Seven Six Capital Management LLC Buys New Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Seven Six Capital Management LLC purchased a new position in Driven Brands Holdings Inc. (NASDAQ:DRVN) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 150,600 shares of the company’s stock, valued at approximately $2,431,000. Driven Brands comprises approximately 2.1% of Seven Six Capital Management LLC’s holdings, making the stock its 22nd largest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DRVN. Emeth Value Capital LLC bought a new position in Driven Brands in the fourth quarter worth approximately $41,452,000. Bamco Inc. NY boosted its holdings in Driven Brands by 35.7% in the fourth quarter. Bamco Inc. NY now owns 4,750,000 shares of the company’s stock worth $76,665,000 after acquiring an additional 1,250,000 shares in the last quarter. North Peak Capital Management LLC boosted its holdings in Driven Brands by 8.6% in the fourth quarter. North Peak Capital Management LLC now owns 5,756,217 shares of the company’s stock worth $92,905,000 after acquiring an additional 457,217 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Driven Brands by 54.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,095 shares of the company’s stock worth $19,141,000 after acquiring an additional 416,744 shares in the last quarter. Finally, Boston Partners bought a new position in Driven Brands in the fourth quarter worth approximately $2,123,000. Institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Performance

Shares of DRVN opened at $18.20 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 455.00, a PEG ratio of 0.79 and a beta of 1.10. The stock has a 50 day moving average of $16.88 and a 200 day moving average of $16.43. Driven Brands Holdings Inc. has a 12 month low of $10.64 and a 12 month high of $18.72.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $516.16 million during the quarter, compared to the consensus estimate of $492.19 million. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. Driven Brands’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the business posted $0.23 earnings per share. As a group, sell-side analysts forecast that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DRVN shares. JPMorgan Chase & Co. increased their price target on Driven Brands from $14.50 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Piper Sandler increased their price objective on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Robert W. Baird set a $25.00 price objective on Driven Brands in a research note on Thursday, March 13th. Benchmark began coverage on Driven Brands in a research note on Friday, April 4th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Canaccord Genuity Group increased their price objective on Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Driven Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.78.

About Driven Brands

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.