Man Group plc Takes Position in Driven Brands Holdings Inc. $DRVN

Man Group plc bought a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 63,168 shares of the company’s stock, valued at approximately $881,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Driven Brands by 5.2% during the 4th quarter. Vanguard Group Inc. now owns 5,851,225 shares of the company’s stock worth $86,715,000 after purchasing an additional 288,759 shares during the period. BlackRock Inc. purchased a new stake in shares of Driven Brands in the second quarter valued at $67,107,000. North Peak Capital Management LLC increased its stake in Driven Brands by 37.3% in the fourth 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 during the last quarter. Goldman Sachs Group Inc. lifted its position in Driven Brands by 14.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,826,160 shares of the company’s stock worth $56,704,000 after buying an additional 491,919 shares during the period. Finally, Boston Partners lifted its position in Driven Brands by 1,301.0% during the fourth quarter. Boston Partners now owns 3,426,388 shares of the company’s stock worth $50,783,000 after buying an additional 3,181,812 shares during the period. 77.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on DRVN. BTIG Research restated a “buy” rating and issued a $17.00 price target on shares of Driven Brands in a report on Friday, June 12th. BMO Capital Markets decreased their target price on shares of Driven Brands from $18.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday, May 21st. Robert W. Baird set a $18.00 target price on shares of Driven Brands and gave the company an “outperform” rating in a report on Wednesday, May 20th. Morgan Stanley set a $14.00 price target on shares of Driven Brands in a research 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 equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.77.

Driven Brands Trading Up 5.4%

NASDAQ DRVN opened at $13.58 on Friday. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 13.06 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 Holdings Inc. has a one year low of $9.80 and a one year high of $19.74. The company’s 50 day moving average price is $13.91 and its 200 day moving average price is $13.24.

Driven Brands (NASDAQ:DRVN) last released its quarterly earnings data on Monday, July 27th. The company reported $0.29 EPS for the quarter. Driven Brands had a return on equity of 24.13% and a net margin of 8.61%. On average, sell-side analysts predict that Driven Brands Holdings Inc. will post 1.12 EPS for the current year.

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.