Bamco Inc. NY Buys 250,000 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Bamco Inc. NY increased its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 14.3% in the first quarter, Holdings Channel.com reports. The firm owned 2,000,000 shares of the company’s stock after purchasing an additional 250,000 shares during the quarter. Bamco Inc. NY’s holdings in Driven Brands were worth $31,580,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of DRVN. GAMMA Investing LLC boosted its position in Driven Brands by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after acquiring an additional 904 shares during the last quarter. Quent Capital LLC raised its stake in Driven Brands by 17.1% in the 4th quarter. Quent Capital LLC now owns 8,921 shares of the company’s stock valued at $127,000 after acquiring an additional 1,304 shares during the period. Lindbrook Capital LLC raised its stake in Driven Brands by 126.9% in the 4th quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock valued at $41,000 after acquiring an additional 1,594 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Driven Brands in the 1st quarter valued at $26,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Driven Brands by 14.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,824 shares of the company’s stock valued at $219,000 after acquiring an additional 1,758 shares during the period. 77.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on DRVN. Piper Sandler lowered their price objective on Driven Brands from $18.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Barclays decreased their price target on Driven Brands from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. The Goldman Sachs Group reduced their price objective on Driven Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Canaccord Genuity Group lowered their price objective on Driven Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Finally, BMO Capital Markets assumed coverage on Driven Brands in a research report on Monday, July 22nd. They set a “market perform” rating and a $14.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.25.

Driven Brands Stock Performance

Shares of NASDAQ:DRVN traded up $0.24 during midday trading on Friday, reaching $13.05. 723,257 shares of the company traded hands, compared to its average volume of 1,477,272. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 3.20. Driven Brands Holdings Inc. has a 12 month low of $10.59 and a 12 month high of $26.26. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -2.80, a price-to-earnings-growth ratio of 0.77 and a beta of 1.12. The firm’s fifty day moving average price is $12.10 and its two-hundred day moving average price is $13.20.

Driven Brands (NASDAQ:DRVN) last announced its earnings results on Thursday, May 2nd. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $572.23 million for the quarter, compared to the consensus estimate of $584.31 million. Driven Brands had a negative net margin of 33.30% and a positive return on equity of 12.08%. On average, equities analysts expect that Driven Brands Holdings Inc. will post 0.87 earnings per share for the current year.

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.