Jupiter Topco LLC Buys Shares of 2,526,144 Driven Brands Holdings Inc. $DRVN

Jupiter Topco LLC bought a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) during the 2nd quarter, Holdings Channel reports. The fund bought 2,526,144 shares of the company’s stock, valued at approximately $35,214,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Driven Brands in the 2nd quarter valued at about $67,107,000. Boston Partners boosted its holdings in Driven Brands by 1,301.0% during the fourth quarter. Boston Partners now owns 3,426,388 shares of the company’s stock worth $50,783,000 after buying an additional 3,181,812 shares in the last quarter. Rubric Capital Management LP purchased a new stake in Driven Brands during the first quarter worth about $37,830,000. North Peak Capital Management LLC grew its position in Driven Brands by 37.3% during the fourth quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company’s stock worth $59,144,000 after buying an additional 1,083,896 shares during the period. Finally, Conversant Capital LLC purchased a new position in Driven Brands in the first quarter valued at about $12,610,000. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Stock Down 1.4%

DRVN stock opened at $12.47 on Friday. The company’s 50 day simple moving average is $13.91 and its 200-day simple moving average is $13.37. The firm has a market capitalization of $2.06 billion, a PE ratio of 11.99 and a beta of 0.95. Driven Brands Holdings Inc. has a 12 month low of $9.80 and a 12 month high of $19.74. 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 (NASDAQ:DRVN) last issued its quarterly earnings data on Monday, July 27th. The company reported $0.29 earnings per share for the quarter. Driven Brands had a net margin of 8.61% and a return on equity of 24.13%. Equities analysts expect that Driven Brands Holdings Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings raised Driven Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Wall Street Zen cut Driven Brands from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $14.75 target price on shares of Driven Brands in a research report on Wednesday, May 20th. Benchmark reissued a “buy” rating on shares of Driven Brands in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada dropped their price target on Driven Brands from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Driven Brands has a consensus rating of “Moderate Buy” and an average price target of $16.77.

Driven Brands Profile

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.