Harbour Capital Advisors LLC Takes Position in Driven Brands Holdings Inc. $DRVN

Harbour Capital Advisors LLC bought a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 56,755 shares of the company’s stock, valued at approximately $846,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Nuveen LLC purchased a new position in Driven Brands during the 1st quarter valued at about $7,167,000. Russell Investments Group Ltd. boosted its position in shares of Driven Brands by 11.7% during the 1st quarter. Russell Investments Group Ltd. now owns 191,435 shares of the company’s stock valued at $3,281,000 after acquiring an additional 20,044 shares during the last quarter. American Century Companies Inc. raised its stake in Driven Brands by 19.5% in the first quarter. American Century Companies Inc. now owns 105,872 shares of the company’s stock valued at $1,815,000 after purchasing an additional 17,272 shares in the last quarter. Northern Trust Corp lifted its position in Driven Brands by 5.4% during the first quarter. Northern Trust Corp now owns 609,645 shares of the company’s stock valued at $10,449,000 after purchasing an additional 31,430 shares during the last quarter. Finally, Landscape Capital Management L.L.C. grew its position in Driven Brands by 288.3% in the first quarter. Landscape Capital Management L.L.C. now owns 273,080 shares of the company’s stock worth $4,681,000 after acquiring an additional 202,747 shares in the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Driven Brands Trading Down 0.1%

NASDAQ:DRVN opened at $15.34 on Friday. Driven Brands Holdings Inc. has a one year low of $13.44 and a one year high of $19.74. The company’s 50-day simple moving average is $14.82 and its 200 day simple moving average is $16.43. The firm has a market capitalization of $2.52 billion, a P/E ratio of -12.37, a PEG ratio of 1.29 and a beta of 1.04. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.90 and a quick ratio of 0.80.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter. Driven Brands had a positive return on equity of 25.31% and a negative net margin of 9.14%.The firm had revenue of $564.12 million for the quarter. As a group, analysts forecast that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

Analyst Ratings Changes

DRVN has been the subject of a number of research reports. Wall Street Zen cut Driven Brands from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings reissued a “sell (d)” rating on shares of Driven Brands in a research report on Monday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $24.00 price target on shares of Driven Brands in a research note on Thursday, September 18th. William Blair raised shares of Driven Brands from a “market perform” rating to an “outperform” rating in a research note on Wednesday, December 3rd. Finally, Stifel Nicolaus set a $23.00 target price on Driven Brands in a research report on Monday, November 17th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Driven Brands has a consensus rating of “Moderate Buy” and an average target price of $21.22.

Driven Brands 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.