Russell Investments Group Ltd. Has $3.31 Million Stock Holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Russell Investments Group Ltd. raised its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 77.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,360 shares of the company's stock after purchasing an additional 101,535 shares during the period. Russell Investments Group Ltd. owned 0.14% of Driven Brands worth $3,313,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new stake in Driven Brands in the third quarter worth $783,000. Bank of New York Mellon Corp lifted its position in Driven Brands by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 208,008 shares of the company's stock worth $2,619,000 after acquiring an additional 5,238 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Driven Brands by 27.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,391 shares of the company's stock valued at $131,000 after purchasing an additional 2,259 shares during the last quarter. Signaturefd LLC increased its stake in shares of Driven Brands by 6,787.0% in the third quarter. Signaturefd LLC now owns 6,887 shares of the company's stock worth $87,000 after purchasing an additional 6,787 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Driven Brands during the 3rd quarter worth about $2,658,000. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank of Canada dropped their price target on Driven Brands from $20.00 to $17.00 and set an "outperform" rating on the stock in a research report on Monday, February 26th. Canaccord Genuity Group reduced their price target on shares of Driven Brands from $21.00 to $17.00 and set a "buy" rating for the company in a report on Friday, May 3rd. Morgan Stanley downgraded shares of Driven Brands from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $22.00 to $14.00 in a report on Tuesday, January 16th. JPMorgan Chase & Co. cut shares of Driven Brands from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $18.00 to $12.50 in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group lowered their price target on Driven Brands from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Friday, May 3rd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Driven Brands presently has an average rating of "Moderate Buy" and an average price target of $17.61.

Driven Brands Price Performance

Shares of Driven Brands stock traded down $0.12 during midday trading on Monday, hitting $11.24. 1,453,369 shares of the company were exchanged, compared to its average volume of 1,235,615. The firm has a 50 day simple moving average of $14.35 and a 200-day simple moving average of $13.57. Driven Brands Holdings Inc. has a 52 week low of $10.59 and a 52 week high of $28.51. The firm has a market cap of $1.84 billion, a P/E ratio of -2.41, a PEG ratio of 0.71 and a beta of 1.19. The company has a debt-to-equity ratio of 3.20, a current ratio of 1.86 and a quick ratio of 1.67.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 12.08%. The company had revenue of $553.70 million for the quarter, compared to the consensus estimate of $572.92 million. During the same quarter in the previous year, the company earned $0.22 EPS. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts forecast that Driven Brands Holdings Inc. will post 0.87 earnings per share 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.