Bleakley Financial Group LLC Invests $171,000 in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Bleakley Financial Group LLC purchased a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,998 shares of the company’s stock, valued at approximately $171,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DRVN. Hood River Capital Management LLC acquired a new position in shares of Driven Brands during the 1st quarter worth $13,323,000. Marshall Wace LLP raised its stake in shares of Driven Brands by 516.2% during the 2nd 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 last quarter. AQR Capital Management LLC raised its stake in shares of Driven Brands by 79.9% during the 2nd 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 last quarter. Bamco Inc. NY raised its stake in shares of Driven Brands by 14.3% during the 1st 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 last quarter. Finally, First Eagle Investment Management LLC acquired a new position in shares of Driven Brands during the 1st quarter worth $3,367,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Trading Up 1.1 %

NASDAQ DRVN opened at $14.51 on Friday. Driven Brands Holdings Inc. has a 12 month low of $10.59 and a 12 month high of $16.00. The company has a 50-day moving average of $14.24 and a 200-day moving average of $13.22. The company has a debt-to-equity ratio of 3.03, a current ratio of 2.11 and a quick ratio of 1.91. The company has a market cap of $2.38 billion, a P/E ratio of -3.11, a P/E/G ratio of 0.83 and a beta of 1.13.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DRVN. Piper Sandler reaffirmed an “overweight” rating and set a $17.00 price target (up previously from $14.00) on shares of Driven Brands in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their target price on shares of Driven Brands from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. BMO Capital Markets started coverage on shares of Driven Brands in a research note on Monday, July 22nd. They issued a “market perform” rating and a $14.00 target price for the company. Canaccord Genuity Group boosted their target price 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. Finally, Robert W. Baird boosted their target price on shares of Driven Brands from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Four 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.95.

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.