Norwood Investment Partners LP Acquires 330,562 Shares of Driven Brands Holdings Inc. $DRVN

Norwood Investment Partners LP lifted its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 138.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 570,000 shares of the company’s stock after buying an additional 330,562 shares during the period. Driven Brands comprises approximately 9.5% of Norwood Investment Partners LP’s portfolio, making the stock its 3rd biggest holding. Norwood Investment Partners LP’s holdings in Driven Brands were worth $8,447,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Osaic Holdings Inc. lifted 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 worth $37,000 after acquiring an additional 941 shares during the period. EverSource Wealth Advisors LLC lifted 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 purchasing an additional 1,854 shares during the last quarter. Comerica Bank lifted its stake in Driven Brands by 328.8% during the fourth quarter. Comerica Bank now owns 2,933 shares of the company’s stock worth $43,000 after purchasing an additional 2,249 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Driven Brands by 1,347.7% in the 4th quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock valued at $57,000 after purchasing an additional 3,558 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Driven Brands by 30.5% in the 4th quarter. Federated Hermes Inc. now owns 8,727 shares of the company’s stock valued at $129,000 after purchasing an additional 2,040 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. William Blair lowered Driven Brands from an “outperform” rating to a “hold” rating in a research note on Wednesday, April 22nd. Freedom Capital upgraded Driven Brands to a “strong-buy” rating in a research note on Monday, March 23rd. BMO Capital Markets decreased their price target on Driven Brands from $18.00 to $14.00 and set a “market perform” rating on the stock in a research note on Thursday, May 21st. Piper Sandler lifted their price target on Driven Brands from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Finally, Benchmark reiterated a “buy” rating on shares of Driven Brands in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Driven Brands currently has an average rating of “Moderate Buy” and an average target price of $17.18.

Driven Brands Price Performance

Shares of NASDAQ:DRVN opened at $13.36 on Wednesday. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 11.93 and a beta of 0.97. 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 50 day simple moving average of $13.17 and a 200 day simple moving average of $13.91. 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 issued its quarterly earnings data on Thursday, June 11th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The business had revenue of $484.44 million during 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 revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. Research analysts predict that Driven Brands Holdings Inc. will post 1.04 earnings per share for the current fiscal year.

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.