63,168 Shares in Driven Brands Holdings Inc. $DRVN Bought by Man Group plc

Man Group plc acquired a new position in Driven Brands Holdings Inc. (NASDAQ:DRVN) during the second quarter, Holdings Channel.com reports. The firm acquired 63,168 shares of the company’s stock, valued at approximately $881,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DRVN. BlackRock Inc. acquired a new position in shares of Driven Brands in the second quarter worth about $67,107,000. North Peak Capital Management LLC grew its stake in Driven Brands by 37.3% during the 4th quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company’s stock valued at $59,144,000 after purchasing an additional 1,083,896 shares in the last quarter. Rangeley Capital LLC acquired a new position in Driven Brands during the 1st quarter worth $7,888,000. Rubric Capital Management LP bought a new stake in Driven Brands in the first quarter valued at about $37,830,000. Finally, Norwood Investment Partners LP acquired a new stake in shares of Driven Brands during the second quarter worth $7,455,293. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Trading Up 5.4%

Driven Brands stock opened at $13.58 on Friday. The business has a 50 day moving average price of $13.91 and a two-hundred day moving average price of $13.24. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 1.99. Driven Brands Holdings Inc. has a 12 month low of $9.80 and a 12 month high of $19.74. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 13.06 and a beta of 0.94.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DRVN shares. Morgan Stanley set a $14.00 price objective on shares of Driven Brands in a research report on Friday, August 7th. The Goldman Sachs Group restated a “neutral” rating and set a $14.75 price target on shares of Driven Brands in a report on Wednesday, May 20th. Robert W. Baird set a $18.00 price target on shares of Driven Brands and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Royal Bank Of Canada reduced their price target on Driven Brands from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Finally, Canaccord Genuity Group set a $17.00 price target on shares of Driven Brands in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.77.

Driven Brands Company 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.