State of Wyoming Invests $351,000 in Driven Brands Holdings Inc. (NASDAQ:DRVN)

State of Wyoming bought a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,752 shares of the company's stock, valued at approximately $351,000.

A number of other hedge funds also recently added to or reduced their stakes in DRVN. Emeth Value Capital LLC acquired a new stake in shares of Driven Brands in the 4th quarter valued at $41,452,000. Bamco Inc. NY raised its holdings in shares of Driven Brands by 35.7% in the 4th quarter. Bamco Inc. NY now owns 4,750,000 shares of the company's stock valued at $76,665,000 after purchasing an additional 1,250,000 shares in the last quarter. North Peak Capital Management LLC raised its holdings in shares of Driven Brands by 8.6% in the 4th quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company's stock valued at $92,905,000 after purchasing an additional 457,217 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Driven Brands by 54.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company's stock valued at $19,141,000 after purchasing an additional 416,744 shares in the last quarter. Finally, Seven Six Capital Management LLC acquired a new stake in shares of Driven Brands in the 4th quarter valued at $2,431,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Robert W. Baird set a $25.00 target price on shares of Driven Brands in a research report on Thursday, March 13th. The Goldman Sachs Group increased their target price on shares of Driven Brands from $16.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Benchmark assumed coverage on shares of Driven Brands in a research report on Friday, April 4th. They issued a "buy" rating and a $22.00 target price on the stock. BMO Capital Markets increased their target price on shares of Driven Brands from $15.00 to $16.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their target price on shares of Driven Brands from $14.50 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.78.

Driven Brands Price Performance

DRVN traded up $0.54 during midday trading on Tuesday, reaching $17.76. 157,744 shares of the company's stock were exchanged, compared to its average volume of 674,199. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. The stock has a market capitalization of $2.92 billion, a PE ratio of 444.00, a P/E/G ratio of 0.79 and a beta of 1.10. The business's 50-day moving average price is $16.96 and its 200 day moving average price is $16.55. Driven Brands Holdings Inc. has a 1-year low of $10.88 and a 1-year high of $18.72.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. The company had revenue of $516.16 million during the quarter, compared to analysts' expectations of $492.19 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share. As a group, equities analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal 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.