Corient Private Wealth LP Buys Shares of 170,071 Driven Brands Holdings Inc. $DRVN

Corient Private Wealth LP acquired a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 170,071 shares of the company’s stock, valued at approximately $2,371,000.

A number of other hedge funds have also recently bought and sold shares of DRVN. Lazard Asset Management LLC lifted its stake in shares of Driven Brands by 0.3% during the 2nd quarter. Lazard Asset Management LLC now owns 216,423 shares of the company’s stock worth $3,800,000 after purchasing an additional 682 shares during the period. ProShare Advisors LLC grew its position in shares of Driven Brands by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 10,917 shares of the company’s stock valued at $162,000 after purchasing an additional 701 shares during the period. Mariner LLC increased its stake in Driven Brands by 1.1% in the fourth quarter. Mariner LLC now owns 71,736 shares of the company’s stock valued at $1,063,000 after purchasing an additional 812 shares during the last quarter. Osaic Holdings Inc. increased its stake in Driven Brands by 82.1% in the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after purchasing an additional 941 shares during the last quarter. Finally, Vident Advisory LLC lifted its position in Driven Brands by 8.0% during the fourth quarter. Vident Advisory LLC now owns 19,620 shares of the company’s stock worth $291,000 after buying an additional 1,458 shares during the period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Performance

NASDAQ DRVN opened at $12.88 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 1-year low of $9.80 and a 1-year high of $19.74. The firm has a market capitalization of $2.12 billion, a P/E ratio of 12.38 and a beta of 0.94. The business’s 50-day simple moving average is $13.91 and its 200-day simple moving average is $13.26.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DRVN shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $14.75 target price on shares of Driven Brands in a research report on Wednesday, May 20th. Morgan Stanley set a $14.00 price target on shares of Driven Brands in a research report on Friday, August 7th. Royal Bank Of Canada cut their price target on shares of Driven Brands from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. BMO Capital Markets decreased their price target on shares of Driven Brands from $18.00 to $14.00 and set a “market perform” rating on the stock in a report on Thursday, May 21st. Finally, Benchmark reissued a “buy” rating on shares of Driven Brands in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Driven Brands presently has an average rating of “Moderate Buy” and a consensus target price of $16.77.

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.