AQR Capital Management LLC Has $11.48 Million Stock Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

AQR Capital Management LLC raised its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 79.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 929,073 shares of the company’s stock after buying an additional 412,547 shares during the quarter. AQR Capital Management LLC owned about 0.57% of Driven Brands worth $11,483,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DRVN. SG Americas Securities LLC raised its stake in Driven Brands by 396.7% during the 2nd quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock valued at $1,573,000 after purchasing an additional 98,662 shares during the last quarter. Grizzlyrock Capital LLC bought a new position in shares of Driven Brands during the 4th quarter worth about $2,311,000. Bamco Inc. NY raised its position in shares of Driven Brands by 14.3% during the first quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock valued at $31,580,000 after buying an additional 250,000 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Driven Brands in the second quarter valued at about $816,000. Finally, Sei Investments Co. grew its position in Driven Brands by 12.0% during the first quarter. Sei Investments Co. now owns 78,370 shares of the company’s stock worth $1,237,000 after buying an additional 8,372 shares in the last quarter. 77.08% of the stock is owned by institutional investors.

Driven Brands Stock Up 1.6 %

Shares of DRVN opened at $14.50 on Wednesday. The company has a market capitalization of $2.38 billion, a P/E ratio of -3.11, a PEG ratio of 0.89 and a beta of 1.13. Driven Brands Holdings Inc. has a one year low of $10.59 and a one year high of $16.00. The business’s 50 day simple moving average is $13.90 and its 200-day simple moving average is $13.32. The company has a debt-to-equity ratio of 3.03, a current ratio of 2.11 and a quick ratio of 1.91.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. Driven Brands had a positive return on equity of 15.12% and a negative net margin of 33.56%. The company had revenue of $611.60 million for the quarter, compared to analyst estimates of $628.34 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s revenue was up .8% on a year-over-year basis. As a group, sell-side analysts predict that Driven Brands Holdings Inc. will post 0.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on DRVN shares. Baird R W upgraded Driven Brands to a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their price target on shares of Driven Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Canaccord Genuity Group increased their price objective on shares of Driven Brands from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Piper Sandler reiterated an “overweight” rating and set a $17.00 target price (up from $14.00) on shares of Driven Brands in a research report on Friday, August 2nd. Finally, Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of Driven Brands in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Driven Brands has an average rating of “Moderate Buy” and a consensus price target of $16.95.

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.