Hussman Strategic Advisors Inc. Makes New $1.11 Million Investment in Driven Brands Holdings Inc. $DRVN

Hussman Strategic Advisors Inc. acquired a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 63,000 shares of the company’s stock, valued at approximately $1,106,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Montreal Can boosted its holdings in Driven Brands by 335.0% in the second quarter. Bank of Montreal Can now owns 130,075 shares of the company’s stock valued at $2,284,000 after purchasing an additional 100,176 shares in the last quarter. Covey Capital Advisors LLC lifted its position in shares of Driven Brands by 95.2% during the 2nd quarter. Covey Capital Advisors LLC now owns 73,645 shares of the company’s stock worth $1,293,000 after buying an additional 35,915 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Driven Brands in the 2nd quarter valued at $223,000. AlphaQuest LLC grew its position in shares of Driven Brands by 64.1% in the 2nd quarter. AlphaQuest LLC now owns 11,246 shares of the company’s stock valued at $197,000 after buying an additional 4,394 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in Driven Brands during the 2nd quarter worth $290,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Up 5.3%

Driven Brands stock opened at $15.01 on Wednesday. The stock has a 50 day moving average of $16.49 and a two-hundred day moving average of $17.06. Driven Brands Holdings Inc. has a twelve month low of $13.93 and a twelve month high of $19.74. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -8.83, a PEG ratio of 0.86 and a beta of 1.05. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 2.82.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter. Driven Brands had a positive return on equity of 21.17% and a negative net margin of 12.32%.The business had revenue of $564.12 million for the quarter. As a group, research analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on DRVN. Wall Street Zen downgraded shares of Driven Brands from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. BTIG Research decreased their target price on Driven Brands from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday. Zacks Research upgraded Driven Brands to a “hold” rating in a research note on Friday, August 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $24.00 price objective on shares of Driven Brands in a research note on Thursday, September 18th. Finally, JPMorgan Chase & Co. raised Driven Brands from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $17.00 to $23.00 in a report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Insider Buying and Selling

In other news, Director Jonathan G. Fitzpatrick sold 110,000 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $18.05, for a total value of $1,985,500.00. Following the completion of the sale, the director owned 2,279,453 shares in the company, valued at approximately $41,144,126.65. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Driven Brands Profile

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.