Hussman Strategic Advisors Inc. Purchases New Stake in Driven Brands Holdings Inc. $DRVN

Hussman Strategic Advisors Inc. acquired a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 63,000 shares of the company’s stock, valued at approximately $1,106,000.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new stake in shares of Driven Brands during the 1st quarter worth $2,850,000. Covey Capital Advisors LLC purchased a new position in shares of Driven Brands in the 1st quarter valued at about $647,000. Montag A & Associates Inc. acquired a new stake in shares of Driven Brands in the first quarter valued at about $1,131,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Driven Brands during the first quarter worth about $245,000. Finally, Norwood Investment Partners LP purchased a new stake in Driven Brands during the first quarter worth about $15,892,000. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on DRVN shares. Piper Sandler dropped their target price on shares of Driven Brands from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, October 24th. BTIG Research dropped their price objective on Driven Brands from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. raised Driven Brands from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $17.00 to $23.00 in a report on Wednesday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Driven Brands in a report on Tuesday, October 14th. Finally, Zacks Research raised Driven Brands to a “hold” rating in a research note on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Driven Brands Trading Up 5.3%

Shares of DRVN stock opened at $15.01 on Wednesday. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -8.83, a PEG ratio of 0.86 and a beta of 1.05. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 2.82. The firm has a 50-day moving average price of $16.49 and a 200 day moving average price of $17.06. Driven Brands Holdings Inc. has a twelve month low of $13.93 and a twelve month high of $19.74.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter. The business had revenue of $564.12 million during the quarter. Driven Brands had a negative net margin of 12.32% and a positive return on equity of 21.17%. Research analysts forecast that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Driven Brands news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $18.05, for a total value of $1,985,500.00. Following the completion of the transaction, the director directly owned 2,279,453 shares in the company, valued at approximately $41,144,126.65. The trade was a 4.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

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.