Flax Pond Capital LLC Boosts Stake in Driven Brands Holdings Inc. $DRVN

Flax Pond Capital LLC raised its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 125.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 430,020 shares of the company’s stock after acquiring an additional 239,420 shares during the period. Driven Brands makes up about 4.4% of Flax Pond Capital LLC’s portfolio, making the stock its 5th biggest holding. Flax Pond Capital LLC owned approximately 0.26% of Driven Brands worth $5,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of DRVN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Driven Brands by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,597 shares of the company’s stock worth $610,000 after purchasing an additional 1,493 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Driven Brands by 22.7% during 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 lifted its position 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 worth $290,000 after purchasing an additional 1,500 shares during the period. Arrowstreet Capital Limited Partnership grew 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 worth $4,481,000 after buying an additional 124,556 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in 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 buying an additional 1,854 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on DRVN shares. Piper Sandler raised their target price on shares of Driven Brands from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 20th. Weiss Ratings upgraded shares of Driven Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Robert W. Baird set a $18.00 price target on shares of Driven Brands and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. BTIG Research reissued a “buy” rating and issued a $17.00 price objective on shares of Driven Brands in a research note on Friday, June 12th. Finally, Wall Street Zen upgraded shares of Driven Brands from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Driven Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.18.

Driven Brands Stock Performance

Driven Brands stock opened at $14.35 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.38 and a debt-to-equity ratio of 2.08. The stock has a market cap of $2.37 billion, a PE ratio of 12.81 and a beta of 0.96. Driven Brands Holdings Inc. has a 12-month low of $9.80 and a 12-month high of $19.74. The business’s 50-day moving average price is $13.99 and its two-hundred day moving average price is $13.75.

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

Driven Brands 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.