III Capital Management Invests $1.52 Million in Driven Brands Holdings Inc. $DRVN

III Capital Management purchased a new position in Driven Brands Holdings Inc. (NASDAQ:DRVN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 109,020 shares of the company’s stock, valued at approximately $1,520,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DRVN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Driven Brands by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company’s stock worth $610,000 after acquiring an additional 1,493 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Driven Brands by 22.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 139,321 shares of the company’s stock worth $2,388,000 after purchasing an additional 25,806 shares during the period. New York State Common Retirement Fund increased its stake in Driven Brands by 10.0% during the second quarter. New York State Common Retirement Fund now owns 16,511 shares of the company’s stock valued at $290,000 after purchasing an additional 1,500 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Driven Brands by 95.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 255,156 shares of the company’s stock valued at $4,481,000 after purchasing an additional 124,556 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised 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 period. Institutional investors and hedge funds own 77.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada lowered their price objective on shares of Driven Brands from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $14.75 target price on shares of Driven Brands in a report on Wednesday, May 20th. Canaccord Genuity Group set a $17.00 price target on Driven Brands in a report on Friday, August 7th. BMO Capital Markets reduced their price objective on Driven Brands from $18.00 to $14.00 and set a “market perform” rating for the company in a research report on Thursday, May 21st. Finally, Benchmark restated a “buy” rating on shares of Driven Brands in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Driven Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.77.

Driven Brands Price Performance

NASDAQ DRVN opened at $13.16 on Wednesday. The company has a 50-day moving average price of $13.90 and a two-hundred day moving average price of $13.43. Driven Brands Holdings Inc. has a 52 week low of $9.80 and a 52 week high of $19.74. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 12.65 and a beta of 0.95. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 1.99.

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

Driven Brands Company 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.