Bleakley Financial Group LLC Invests $171,000 in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Bleakley Financial Group LLC bought a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) in the third quarter, Holdings Channel reports. The firm bought 11,998 shares of the company’s stock, valued at approximately $171,000.

A number of other institutional investors have also modified their holdings of the company. Bamco Inc. NY grew its holdings in shares of Driven Brands by 14.3% during the 1st quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock worth $31,580,000 after purchasing an additional 250,000 shares during the period. AQR Capital Management LLC grew its holdings in shares of Driven Brands by 79.9% during the 2nd quarter. AQR Capital Management LLC now owns 929,073 shares of the company’s stock worth $11,483,000 after purchasing an additional 412,547 shares during the period. Hood River Capital Management LLC purchased a new stake in shares of Driven Brands during the 1st quarter worth about $13,323,000. Marshall Wace LLP grew its holdings in shares of Driven Brands by 516.2% during the 2nd quarter. Marshall Wace LLP now owns 612,436 shares of the company’s stock worth $7,796,000 after purchasing an additional 513,045 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in shares of Driven Brands by 15.3% during the 2nd quarter. Squarepoint Ops LLC now owns 241,306 shares of the company’s stock worth $3,072,000 after purchasing an additional 31,978 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Performance

Driven Brands stock opened at $14.51 on Friday. The stock has a market cap of $2.38 billion, a P/E ratio of -3.11, a price-to-earnings-growth ratio of 0.83 and a beta of 1.13. The company has a current ratio of 2.11, a quick ratio of 1.91 and a debt-to-equity ratio of 3.03. The stock has a 50 day moving average of $14.24 and a 200-day moving average of $13.22. Driven Brands Holdings Inc. has a 52 week low of $10.59 and a 52 week high of $16.00.

Driven Brands (NASDAQ:DRVN) last released its earnings results on Thursday, August 1st. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.28 by $0.07. The company had revenue of $611.60 million during the quarter, compared to analysts’ expectations of $628.34 million. Driven Brands had a positive return on equity of 15.12% and a negative net margin of 33.56%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. On average, analysts expect that Driven Brands Holdings Inc. will post 0.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DRVN shares. Benchmark restated a “buy” rating and issued a $20.00 price target on shares of Driven Brands in a report on Tuesday, August 20th. Royal Bank of Canada upped their price target on Driven Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. BMO Capital Markets started coverage on Driven Brands in a report on Monday, July 22nd. They issued a “market perform” rating and a $14.00 price target for the company. Robert W. Baird upped their price target on Driven Brands from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Canaccord Genuity Group upped their price target on Driven Brands from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Driven Brands has a consensus rating of “Moderate Buy” and an average price target of $16.95.

Driven Brands Company 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.