4,502,594 Shares in Driven Brands Holdings Inc. $DRVN Purchased by Bamco Inc. NY

Bamco Inc. NY purchased a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,502,594 shares of the company’s stock, valued at approximately $62,766,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its position in Driven Brands by 82.1% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock worth $37,000 after acquiring an additional 941 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Driven Brands by 744.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock worth $37,000 after purchasing an additional 1,854 shares during the last quarter. Comerica Bank grew its holdings in Driven Brands by 328.8% in the 4th quarter. Comerica Bank now owns 2,933 shares of the company’s stock valued at $43,000 after buying an additional 2,249 shares during the period. Larson Financial Group LLC increased its position in Driven Brands by 1,347.7% during the fourth quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock worth $57,000 after purchasing an additional 3,558 shares during the last quarter. Finally, SJS Investment Consulting Inc. raised its position in shares of Driven Brands by 420.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company’s stock worth $57,000 after buying an additional 3,635 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DRVN has been the topic of several research reports. Weiss Ratings lowered shares of Driven Brands from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Piper Sandler raised their target price on shares of Driven Brands from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. BTIG Research reissued a “buy” rating and issued a $17.00 target price on shares of Driven Brands in a research note on Friday, June 12th. Robert W. Baird set a $18.00 price target on shares of Driven Brands and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Finally, Morgan Stanley set a $14.00 price target on Driven Brands in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.77.

Driven Brands Trading Down 1.2%

DRVN opened at $13.00 on Thursday. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.47 and a quick ratio of 1.33. Driven Brands Holdings Inc. has a 12-month low of $9.80 and a 12-month high of $19.74. The firm’s fifty day moving average price is $13.91 and its 200 day moving average price is $13.41. The stock has a market capitalization of $2.14 billion, a PE ratio of 12.50 and a beta of 0.95.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data on Monday, July 27th. The company reported $0.29 earnings per share (EPS) for the quarter. Driven Brands had a return on equity of 24.13% and a net margin of 8.61%. As a group, research analysts expect that Driven Brands Holdings Inc. will post 1.12 EPS for the current fiscal year.

About Driven Brands

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.