Flax Pond Capital LLC Raises Stock Holdings in Driven Brands Holdings Inc. $DRVN

Flax Pond Capital LLC raised its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 125.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 430,020 shares of the company’s stock after purchasing an additional 239,420 shares during the quarter. Driven Brands accounts for about 4.4% of Flax Pond Capital LLC’s holdings, making the stock its 5th biggest holding. Flax Pond Capital LLC’s holdings in Driven Brands were worth $5,423,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DRVN. Osaic Holdings Inc. raised its holdings in Driven Brands by 82.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after buying an additional 941 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Driven Brands by 744.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after acquiring an additional 1,854 shares during the period. Comerica Bank raised its stake in shares of Driven Brands by 328.8% during the fourth quarter. Comerica Bank now owns 2,933 shares of the company’s stock valued at $43,000 after acquiring an additional 2,249 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of 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 period. Finally, SJS Investment Consulting Inc. grew its stake in shares of Driven Brands by 420.2% in the first quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company’s stock worth $57,000 after purchasing an additional 3,635 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DRVN has been the subject of several analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $14.75 target price on shares of Driven Brands in a research report on Wednesday, May 20th. Robert W. Baird set a $18.00 price target on Driven Brands and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Weiss Ratings upgraded Driven Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Piper Sandler lifted their price objective on Driven Brands from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. Finally, Morgan Stanley reduced their target price on Driven Brands from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.18.

Driven Brands Stock Performance

Shares of DRVN opened at $14.35 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.25 and a debt-to-equity ratio of 2.08. The firm’s fifty day simple moving average is $13.99 and its two-hundred day simple moving average is $13.75. Driven Brands Holdings Inc. has a 12 month low of $9.80 and a 12 month high of $19.74. The stock has a market capitalization of $2.37 billion, a P/E ratio of 12.81 and a beta of 0.96.

Driven Brands (NASDAQ:DRVN) last posted its quarterly earnings data on Thursday, June 11th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.06. The firm had revenue of $484.44 million during the quarter, compared to analyst estimates of $480.84 million. Driven Brands had a return on equity of 25.70% and a net margin of 9.08%.The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the company posted $0.27 EPS. As a group, analysts predict that Driven Brands Holdings Inc. will post 1.08 EPS for the current 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.