Seven Six Capital Management LLC Purchases 52,000 Shares of Driven Brands Holdings Inc. $DRVN

Key Points

• Seven Six Capital Management LLC increased its stake in Driven Brands Holdings Inc. by 34.5%, now holding 202,600 shares after purchasing an additional 52,000 shares in Q1.
• Driven Brands reported a Q2 earnings per share (EPS) of $0.36, surpassing estimates and showing a 6.2% year-over-year revenue increase, reaching $550.99 million.
• Institutional investors and hedge funds collectively own 77.08% of Driven Brands' stock, with significant contributions from various investment firms in the past quarter.

Seven Six Capital Management LLC lifted its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 34.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,600 shares of the company's stock after acquiring an additional 52,000 shares during the period. Driven Brands makes up approximately 3.1% of Seven Six Capital Management LLC's portfolio, making the stock its 15th largest position. Seven Six Capital Management LLC owned approximately 0.12% of Driven Brands worth $3,473,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DRVN. Price T Rowe Associates Inc. MD increased its position in shares of Driven Brands by 20.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,760 shares of the company's stock valued at $384,000 after acquiring an additional 3,952 shares in the last quarter. Northern Trust Corp increased its position in shares of Driven Brands by 7.0% during the fourth quarter. Northern Trust Corp now owns 578,215 shares of the company's stock valued at $9,332,000 after acquiring an additional 37,959 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Driven Brands by 25.4% during the fourth quarter. Ameriprise Financial Inc. now owns 41,622 shares of the company's stock valued at $672,000 after acquiring an additional 8,441 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Driven Brands during the fourth quarter valued at approximately $205,000. Finally, Deutsche Bank AG increased its position in shares of Driven Brands by 13.5% during the fourth quarter. Deutsche Bank AG now owns 181,537 shares of the company's stock valued at $2,930,000 after acquiring an additional 21,542 shares in the last quarter. Institutional investors own 77.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DRVN. Wall Street Zen downgraded shares of Driven Brands from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. upgraded shares of Driven Brands from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $17.00 to $23.00 in a report on Wednesday, August 6th. BTIG Research restated a "buy" rating and issued a $22.00 target price on shares of Driven Brands in a report on Friday. Canaccord Genuity Group raised their target price on shares of Driven Brands from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Zacks Research upgraded shares of Driven Brands to a "hold" rating in a report on Friday, August 8th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Driven Brands has a consensus rating of "Moderate Buy" and an average target price of $21.60.

Driven Brands Stock Performance

Shares of Driven Brands stock traded down $0.39 on Friday, hitting $18.19. 206,296 shares of the company's stock were exchanged, compared to its average volume of 722,873. The company has a 50-day simple moving average of $17.60 and a 200-day simple moving average of $17.25. The stock has a market capitalization of $2.99 billion, a PE ratio of -10.70, a PEG ratio of 1.10 and a beta of 1.09. Driven Brands Holdings Inc. has a 1 year low of $13.47 and a 1 year high of $19.74. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.01 and a current ratio of 1.11.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $550.99 million for the quarter, compared to analysts' expectations of $540.12 million. Driven Brands had a negative net margin of 12.32% and a positive return on equity of 21.17%. The company's revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 EPS. Driven Brands has set its FY 2025 guidance at 1.150-1.25 EPS. As a group, equities analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Driven Brands Company Profile

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.