190,600 Shares in Driven Brands Holdings Inc. $DRVN Bought by Flax Pond Capital LLC

Flax Pond Capital LLC bought a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 190,600 shares of the company’s stock, valued at approximately $2,825,000. Driven Brands comprises about 2.1% of Flax Pond Capital LLC’s portfolio, making the stock its 21st biggest position.

Other large investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its stake in Driven Brands by 0.3% during the second quarter. Lazard Asset Management LLC now owns 216,423 shares of the company’s stock worth $3,800,000 after purchasing an additional 682 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Driven Brands by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 10,917 shares of the company’s stock valued at $162,000 after purchasing an additional 701 shares during the last quarter. Mariner LLC raised its holdings in shares of Driven Brands by 1.1% during the 4th quarter. Mariner LLC now owns 71,736 shares of the company’s stock valued at $1,063,000 after buying an additional 812 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Driven Brands by 82.1% during 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 in the last quarter. Finally, Vident Advisory LLC raised its holdings in shares of Driven Brands by 8.0% during the 4th quarter. Vident Advisory LLC now owns 19,620 shares of the company’s stock valued at $291,000 after buying an additional 1,458 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Performance

Shares of DRVN opened at $12.68 on Friday. The company has a 50-day simple moving average of $13.19 and a two-hundred day simple moving average of $13.87. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.38 and a quick ratio of 1.25. The firm has a market capitalization of $2.09 billion, a PE ratio of 11.32 and a beta of 0.97. Driven Brands Holdings Inc. has a one year low of $9.80 and a one year high of $19.74.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Thursday, June 11th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. Driven Brands had a return on equity of 25.70% and a net margin of 9.08%.The firm had revenue of $484.44 million for the quarter, compared to the consensus estimate of $480.84 million. During the same quarter in the prior year, the business earned $0.27 EPS. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, analysts anticipate that Driven Brands Holdings Inc. will post 1.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DRVN shares. BTIG Research reissued a “buy” rating and issued a $17.00 price target on shares of Driven Brands in a research note on Friday, June 12th. Zacks Research raised Driven Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Canaccord Genuity Group set a $18.00 price objective on Driven Brands in a report on Monday, June 8th. Freedom Capital raised Driven Brands to a “strong-buy” rating in a research note on Monday, March 23rd. Finally, Benchmark restated a “buy” rating on shares of Driven Brands in a report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.18.

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.