Ewing Morris & Co. Investment Partners Ltd. Sells 65,000 Shares of Driven Brands Holdings Inc. $DRVN

Ewing Morris & Co. Investment Partners Ltd. lowered its position in Driven Brands Holdings Inc. (NASDAQ:DRVN) by 16.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 340,961 shares of the company’s stock after selling 65,000 shares during the period. Driven Brands comprises about 2.5% of Ewing Morris & Co. Investment Partners Ltd.’s portfolio, making the stock its 12th largest position. Ewing Morris & Co. Investment Partners Ltd.’s holdings in Driven Brands were worth $4,753,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Driven Brands in the 2nd quarter valued at about $67,107,000. North Peak Capital Management LLC boosted its holdings in Driven Brands by 37.3% in the 4th quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company’s stock worth $59,144,000 after buying an additional 1,083,896 shares during the period. Rangeley Capital LLC bought a new position in Driven Brands during the first quarter valued at approximately $7,888,000. Rubric Capital Management LP purchased a new position in Driven Brands during the first quarter worth $37,830,000. Finally, Conversant Capital LLC purchased a new position in shares of Driven Brands during the first quarter worth approximately $12,610,000. 77.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DRVN shares. Royal Bank Of Canada decreased their target price 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. Morgan Stanley set a $14.00 target price on Driven Brands in a research note on Friday, August 7th. Wall Street Zen lowered Driven Brands from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $14.75 target price on shares of Driven Brands in a report on Wednesday, May 20th. Finally, Piper Sandler boosted their price objective on Driven Brands from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Driven Brands presently has a consensus rating of “Moderate Buy” and an average price target of $16.77.

Driven Brands Stock Up 0.6%

Shares of NASDAQ DRVN opened at $12.88 on Thursday. The firm has a 50 day moving average price of $13.91 and a 200 day moving average price of $13.26. 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 $2.12 billion, a P/E ratio of 12.38 and a beta of 0.94. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.33 and a current ratio of 1.47.

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