Bamco Inc. NY Has $49.95 Million Stake in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Bamco Inc. NY raised its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 16.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,500,000 shares of the company’s stock after acquiring an additional 500,000 shares during the quarter. Bamco Inc. NY owned approximately 2.13% of Driven Brands worth $49,945,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DRVN. Scopia Capital Management LP acquired a new position in shares of Driven Brands during the 3rd quarter worth approximately $16,890,000. Marshall Wace LLP boosted its position 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 purchasing an additional 513,045 shares during the period. AQR Capital Management LLC increased its holdings in shares of Driven Brands by 79.9% in the second quarter. AQR Capital Management LLC now owns 929,073 shares of the company’s stock valued at $11,483,000 after purchasing an additional 412,547 shares during the last quarter. Edgestream Partners L.P. raised its position in shares of Driven Brands by 247.1% in the third quarter. Edgestream Partners L.P. now owns 222,525 shares of the company’s stock valued at $3,175,000 after purchasing an additional 158,412 shares during the period. Finally, Millrace Asset Group Inc. acquired a new stake in shares of Driven Brands during the 3rd quarter worth about $1,420,000. Institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

DRVN has been the topic of several research analyst reports. Canaccord Genuity Group increased their price target on shares of Driven Brands from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada increased their target price on Driven Brands from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Benchmark restated a “buy” rating and issued a $20.00 price target on shares of Driven Brands in a research note on Tuesday, August 20th. Finally, Stifel Nicolaus increased their price objective on Driven Brands from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.86.

Driven Brands Stock Up 0.8 %

Shares of NASDAQ DRVN opened at $16.98 on Tuesday. Driven Brands Holdings Inc. has a 52 week low of $10.59 and a 52 week high of $17.35. The stock’s fifty day moving average is $15.20 and its 200 day moving average is $13.68. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90. The stock has a market capitalization of $2.79 billion, a P/E ratio of 419.00, a PEG ratio of 1.12 and a beta of 1.11.

Driven Brands (NASDAQ:DRVN) last issued its earnings results on Thursday, October 31st. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. The company had revenue of $591.70 million during the quarter, compared to analysts’ expectations of $598.49 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 EPS. Sell-side analysts forecast that Driven Brands Holdings Inc. will post 0.86 earnings per share 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.