Yorktown Management & Research Co Inc Buys New Shares in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Yorktown Management & Research Co Inc bought a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,850 shares of the company's stock, valued at approximately $255,000.

Several other large investors have also recently bought and sold shares of DRVN. North Peak Capital Management LLC grew its position in shares of Driven Brands by 8.6% during the 4th quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company's stock worth $92,905,000 after purchasing an additional 457,217 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Driven Brands by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company's stock worth $92,134,000 after purchasing an additional 31,431 shares during the period. Bamco Inc. NY increased its stake in Driven Brands by 35.7% in the fourth quarter. Bamco Inc. NY now owns 4,750,000 shares of the company's stock valued at $76,665,000 after acquiring an additional 1,250,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Driven Brands by 54.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company's stock worth $19,141,000 after buying an additional 416,744 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Driven Brands by 7.0% in the 4th quarter. Northern Trust Corp now owns 578,215 shares of the company's stock valued at $9,332,000 after purchasing an additional 37,959 shares in the last quarter. 77.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Benchmark began coverage on Driven Brands in a report on Friday, April 4th. They set a "buy" rating and a $22.00 price target on the stock. BMO Capital Markets increased their target price on shares of Driven Brands from $15.00 to $16.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group upped their price objective on shares of Driven Brands from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Piper Sandler increased their price target on Driven Brands from $19.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Finally, Wall Street Zen upgraded Driven Brands from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Driven Brands presently has a consensus rating of "Moderate Buy" and an average price target of $20.78.

Driven Brands Stock Up 2.5%

Shares of Driven Brands stock opened at $17.43 on Tuesday. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -9.63, a P/E/G ratio of 0.98 and a beta of 1.11. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.33 and a current ratio of 1.47. The company's 50 day moving average price is $17.32 and its 200-day moving average price is $16.67. Driven Brands Holdings Inc. has a 52-week low of $11.58 and a 52-week high of $18.72.

Driven Brands (NASDAQ:DRVN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. Driven Brands had a positive return on equity of 19.61% and a negative net margin of 12.75%. The company had revenue of $516.16 million during the quarter, compared to analyst estimates of $492.19 million. During the same quarter last year, the firm posted $0.23 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. Equities research analysts forecast that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

About Driven Brands

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.

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