Driven Brands Holdings Inc. (NASDAQ:DRVN) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 47.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,720 shares of the company’s stock after acquiring an additional 4,399 shares during the period. SG Americas Securities LLC’s holdings in Driven Brands were worth $221,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. HG Vora Capital Management LLC lifted its stake in shares of Driven Brands by 4.9% during the third quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company’s stock worth $107,738,000 after purchasing an additional 350,000 shares in the last quarter. North Peak Capital Management LLC boosted its holdings in Driven Brands by 1.8% in the 3rd quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company’s stock worth $75,617,000 after acquiring an additional 95,529 shares during the period. Bamco Inc. NY grew its position in Driven Brands by 16.7% in the third quarter. Bamco Inc. NY now owns 3,500,000 shares of the company’s stock valued at $49,945,000 after acquiring an additional 500,000 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Driven Brands by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,511,230 shares of the company’s stock valued at $21,570,000 after purchasing an additional 19,681 shares during the period. Finally, State Street Corp boosted its stake in shares of Driven Brands by 2.2% in the third quarter. State Street Corp now owns 1,424,332 shares of the company’s stock valued at $20,325,000 after purchasing an additional 30,852 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on DRVN shares. Royal Bank of Canada increased their target price on Driven Brands from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group upped their price target on Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus upped their target price on Driven Brands from $20.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Driven Brands currently has a consensus rating of “Moderate Buy” and an average target price of $18.25.

Driven Brands Stock Performance

Shares of DRVN stock opened at $16.08 on Friday. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 402.00, a price-to-earnings-growth ratio of 0.86 and a beta of 1.15. The business has a 50 day simple moving average of $16.26 and a 200 day simple moving average of $15.14. Driven Brands Holdings Inc. has a 12-month low of $10.59 and a 12-month high of $17.45. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72.

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.