Vanguard Group Inc. Has $86.72 Million Position in Driven Brands Holdings Inc. $DRVN

Vanguard Group Inc. increased its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,851,225 shares of the company’s stock after acquiring an additional 288,759 shares during the period. Vanguard Group Inc.’s holdings in Driven Brands were worth $86,715,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DRVN. Osaic Holdings Inc. boosted its position 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 buying an additional 941 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Driven Brands by 744.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock valued at $37,000 after buying an additional 1,854 shares in the last quarter. Versant Capital Management Inc acquired a new position in Driven Brands in the third quarter valued at about $84,000. Federated Hermes Inc. acquired a new position in Driven Brands in the third quarter valued at about $108,000. Finally, Tower Research Capital LLC TRC boosted its position in Driven Brands by 709.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,490 shares of the company’s stock valued at $149,000 after buying an additional 7,441 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DRVN. Morgan Stanley reduced their price target on shares of Driven Brands from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Piper Sandler reduced their price target on shares of Driven Brands from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, April 23rd. Zacks Research upgraded shares of Driven Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Weiss Ratings restated a “sell (d)” rating on shares of Driven Brands in a research report on Friday, March 27th. Finally, Canaccord Genuity Group reduced their price target on shares of Driven Brands from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Driven Brands presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Driven Brands Price Performance

Shares of DRVN stock opened at $12.68 on Thursday. Driven Brands Holdings Inc. has a 1 year low of $9.80 and a 1 year high of $19.74. The firm’s 50 day moving average is $12.16 and its 200-day moving average is $14.06. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -10.23 and a beta of 0.97. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 2.44.

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.