Pullen Investment Management LLC Grows Stake in Driven Brands Holdings Inc. $DRVN

Pullen Investment Management LLC increased its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 141.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 195,239 shares of the company’s stock after acquiring an additional 114,345 shares during the period. Pullen Investment Management LLC owned approximately 0.12% of Driven Brands worth $2,462,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DRVN. Boston Partners raised its holdings in Driven Brands by 1,301.0% in the fourth quarter. Boston Partners now owns 3,426,388 shares of the company’s stock valued at $50,783,000 after acquiring an additional 3,181,812 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in Driven Brands during the 3rd quarter worth $44,645,000. Simcoe Capital Management LLC acquired a new position in Driven Brands during the 3rd quarter worth $33,911,000. North Peak Capital Management LLC increased its position in shares of Driven Brands by 37.3% in the 4th quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company’s stock worth $59,144,000 after purchasing an additional 1,083,896 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Driven Brands in the 3rd quarter worth about $12,599,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Driven Brands Stock Performance

NASDAQ DRVN opened at $12.68 on Friday. Driven Brands Holdings Inc. has a one year low of $9.80 and a one year high of $19.74. The company has a 50-day simple moving average of $13.19 and a 200-day simple moving average of $13.87. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.25 and a current ratio of 1.38. The firm has a market capitalization of $2.09 billion, a PE ratio of 11.32 and a beta of 0.97.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings data on Thursday, June 11th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter 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. On average, equities analysts forecast that Driven Brands Holdings Inc. will post 1.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DRVN. Weiss Ratings upgraded Driven Brands from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Piper Sandler upped their price objective on Driven Brands from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Zacks Research raised Driven Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $14.75 target price on shares of Driven Brands in a research report on Wednesday, May 20th. Finally, BMO Capital Markets lowered their price target on Driven Brands from $18.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.18.

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.