Norwood Investment Partners LP Has $3.86 Million Holdings in Driven Brands Holdings Inc. $DRVN

Norwood Investment Partners LP trimmed its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 69.2% during the third quarter, Holdings Channel.com reports. The fund owned 239,438 shares of the company’s stock after selling 538,610 shares during the quarter. Driven Brands accounts for about 3.3% of Norwood Investment Partners LP’s holdings, making the stock its 11th biggest position. Norwood Investment Partners LP’s holdings in Driven Brands were worth $3,857,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. North Peak Capital Management LLC grew its position in shares of Driven Brands by 9.0% during the 2nd quarter. North Peak Capital Management LLC now owns 7,123,075 shares of the company’s stock worth $125,081,000 after purchasing an additional 589,556 shares in the last quarter. Emeth Value Capital LLC raised its position in shares of Driven Brands by 34.8% in the third quarter. Emeth Value Capital LLC now owns 3,263,911 shares of the company’s stock valued at $52,745,000 after buying an additional 842,668 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Driven Brands in the third quarter valued at approximately $44,645,000. Western Standard LLC grew its position in Driven Brands by 69.3% during the third quarter. Western Standard LLC now owns 693,413 shares of the company’s stock worth $11,171,000 after buying an additional 283,736 shares in the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. increased its stake in Driven Brands by 74.6% during the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 382,167 shares of the company’s stock worth $6,711,000 after acquiring an additional 163,300 shares during the period. Institutional investors own 77.08% of the company’s stock.

Insider Buying and Selling at Driven Brands

In related news, insider Scott L. O’melia sold 46,875 shares of the firm’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $16.00, for a total transaction of $750,000.00. Following the sale, the insider owned 326,944 shares of the company’s stock, valued at $5,231,104. This trade represents a 12.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

DRVN has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $23.00 target price on Driven Brands in a research report on Monday, November 17th. Wall Street Zen cut shares of Driven Brands from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Piper Sandler lowered shares of Driven Brands from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $19.00 to $12.00 in a report on Wednesday, February 25th. Morgan Stanley dropped their target price on shares of Driven Brands from $20.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Driven Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.56.

Driven Brands Stock Up 0.5%

DRVN stock opened at $11.01 on Thursday. The firm has a 50-day moving average price of $15.33 and a 200-day moving average price of $15.65. 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 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 2.44. The stock has a market capitalization of $1.81 billion, a P/E ratio of -8.88 and a beta of 1.09.

Driven Brands (NASDAQ:DRVN) last announced its quarterly earnings results on Wednesday, March 11th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The company had revenue of $457.33 million for the quarter, compared to analyst estimates of $459.50 million. Driven Brands had a negative net margin of 9.14% and a positive return on equity of 25.31%. During the same period in the previous year, the firm posted $0.30 EPS. As a group, equities research analysts anticipate that Driven Brands Holdings Inc. will post 0.85 EPS for the current fiscal year.

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.