Norwood Investment Partners LP Makes New Investment in Driven Brands Holdings Inc. $DRVN

Norwood Investment Partners LP bought a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 534,813 shares of the company’s stock, valued at approximately $7,455,293. Driven Brands accounts for 0.0% of Norwood Investment Partners LP’s holdings, making the stock its 4th largest position. Norwood Investment Partners LP owned approximately 0.32% of Driven Brands at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Driven Brands by 5.2% during the fourth quarter. Vanguard Group Inc. now owns 5,851,225 shares of the company’s stock valued at $86,715,000 after buying an additional 288,759 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Driven Brands in the second quarter valued at about $67,107,000. North Peak Capital Management LLC raised its position in shares of Driven Brands by 37.3% in the fourth quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company’s stock valued at $59,144,000 after buying an additional 1,083,896 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Driven Brands by 14.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,826,160 shares of the company’s stock worth $56,704,000 after acquiring an additional 491,919 shares in the last quarter. Finally, Boston Partners boosted its stake in Driven Brands by 1,301.0% during the fourth quarter. Boston Partners now owns 3,426,388 shares of the company’s stock valued at $50,783,000 after buying an additional 3,181,812 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DRVN. BMO Capital Markets lowered their target price on Driven Brands from $18.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, May 21st. Wall Street Zen downgraded shares of Driven Brands from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Robert W. Baird set a $18.00 price objective on Driven Brands and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Benchmark restated a “buy” rating on shares of Driven Brands in a research report on Tuesday, May 26th. Finally, Weiss Ratings raised Driven Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.77.

Driven Brands Stock Down 0.8%

DRVN stock traded down $0.10 during midday trading on Friday, hitting $12.55. The company’s stock had a trading volume of 249,588 shares, compared to its average volume of 1,436,605. The company’s fifty day moving average price is $13.91 and its 200 day moving average price is $13.38. 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 twelve month low of $9.80 and a twelve month high of $19.74. The stock has a market capitalization of $2.07 billion, a P/E ratio of 12.07 and a beta of 0.95.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Monday, July 27th. The company reported $0.29 EPS for the quarter. Driven Brands had a return on equity of 24.13% and a net margin of 8.61%. As a group, equities research analysts predict that Driven Brands Holdings Inc. will post 1.12 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.