6,000 Shares in Driven Brands Holdings Inc. (NASDAQ:DRVN) Acquired by nVerses Capital LLC

nVerses Capital LLC acquired a new position in Driven Brands Holdings Inc. (NASDAQ:DRVN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,000 shares of the company’s stock, valued at approximately $86,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of DRVN. Hood River Capital Management LLC bought a new position in Driven Brands in the first quarter worth approximately $13,323,000. Marshall Wace LLP lifted its holdings in Driven Brands by 516.2% during the second quarter. Marshall Wace LLP now owns 612,436 shares of the company’s stock worth $7,796,000 after buying an additional 513,045 shares during the period. AQR Capital Management LLC lifted its holdings in Driven Brands by 79.9% during the second quarter. AQR Capital Management LLC now owns 929,073 shares of the company’s stock worth $11,483,000 after buying an additional 412,547 shares during the period. Bamco Inc. NY lifted its holdings in Driven Brands by 14.3% during the first quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock worth $31,580,000 after buying an additional 250,000 shares during the period. Finally, First Eagle Investment Management LLC purchased a new stake in Driven Brands during the first quarter worth $3,367,000. Institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on DRVN shares. Baird R W upgraded Driven Brands to a “strong-buy” rating in a report on Friday, August 2nd. BMO Capital Markets initiated coverage on Driven Brands in a report on Monday, July 22nd. They set a “market perform” rating and a $14.00 price objective for the company. Royal Bank of Canada increased their price objective on Driven Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird increased their price objective on Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price objective on Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.95.

Driven Brands Price Performance

Shares of NASDAQ DRVN opened at $14.67 on Monday. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.91 and a current ratio of 2.11. Driven Brands Holdings Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $16.00. The firm has a market capitalization of $2.41 billion, a PE ratio of -3.15, a price-to-earnings-growth ratio of 0.83 and a beta of 1.13. The stock’s 50-day simple moving average is $14.16 and its 200-day simple moving average is $13.22.

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

Driven Brands 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.