Hsbc Holdings PLC Makes New $696,000 Investment in Driven Brands Holdings Inc. $DRVN

Hsbc Holdings PLC bought a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 50,819 shares of the company’s stock, valued at approximately $696,000.

A number of other hedge funds have also recently made changes to their positions in DRVN. Vanguard Group Inc. grew its holdings in shares of Driven Brands by 5.2% during the fourth 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 last quarter. BlackRock Inc. bought a new position in Driven Brands in the 2nd quarter valued at approximately $67,107,000. North Peak Capital Management LLC boosted its position in Driven Brands by 37.3% during the 4th quarter. North Peak Capital Management LLC now owns 3,990,850 shares of the company’s stock worth $59,144,000 after buying an additional 1,083,896 shares during the period. Goldman Sachs Group Inc. boosted its position in Driven Brands by 14.8% during the 4th 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 increased 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 purchasing an additional 3,181,812 shares during the period. 77.08% of the stock is owned by institutional investors and hedge funds.

Driven Brands Trading Up 0.6%

NASDAQ:DRVN opened at $12.88 on Thursday. Driven Brands Holdings Inc. has a 12 month low of $9.80 and a 12 month high of $19.74. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 1.99. The firm’s 50 day moving average is $13.91 and its 200 day moving average is $13.26. The stock has a market capitalization of $2.12 billion, a PE ratio of 12.38 and a beta of 0.94.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DRVN shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $14.75 price target on shares of Driven Brands in a research report on Wednesday, May 20th. Morgan Stanley set a $14.00 target price on shares of Driven Brands in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Driven Brands from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Robert W. Baird set a $18.00 target price on Driven Brands and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Finally, Piper Sandler raised their price target on shares of Driven Brands from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.77.

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.