Rangeley Capital LLC Makes New $7.89 Million Investment in Driven Brands Holdings Inc. $DRVN

Rangeley Capital LLC bought a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 625,500 shares of the company’s stock, valued at approximately $7,888,000. Driven Brands comprises approximately 7.2% of Rangeley Capital LLC’s investment portfolio, making the stock its biggest holding.

A number of other large investors have also recently made changes to their positions in DRVN. Osaic Holdings Inc. grew its holdings in Driven Brands by 82.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after purchasing an additional 941 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Driven Brands by 744.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock worth $37,000 after purchasing an additional 1,854 shares during the last quarter. Comerica Bank lifted its stake in Driven Brands by 328.8% in the fourth quarter. Comerica Bank now owns 2,933 shares of the company’s stock worth $43,000 after purchasing an additional 2,249 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Driven Brands by 1,347.7% during the fourth quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock valued at $57,000 after buying an additional 3,558 shares during the period. Finally, SJS Investment Consulting Inc. boosted its position in shares of Driven Brands by 420.2% during the first quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company’s stock valued at $57,000 after buying an additional 3,635 shares during the period. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Stock Performance

Shares of NASDAQ DRVN opened at $13.61 on Monday. The stock has a market capitalization of $2.25 billion, a P/E ratio of 12.15 and a beta of 0.96. The business has a fifty day moving average price of $13.89 and a 200 day moving average price of $13.76. Driven Brands Holdings Inc. has a 1-year low of $9.80 and a 1-year high of $19.74. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.38 and a quick ratio of 1.25.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings data on Thursday, June 11th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $484.44 million for 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 quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. Equities research analysts expect that Driven Brands Holdings Inc. will post 1.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DRVN. Wall Street Zen raised Driven Brands from a “hold” rating to a “buy” rating in a research note on Saturday. Benchmark reaffirmed a “buy” rating on shares of Driven Brands in a research report on Tuesday, May 26th. Royal Bank Of Canada cut their price objective on Driven Brands from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, June 11th. Morgan Stanley reduced their target price on Driven Brands from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 20th. Finally, Canaccord Genuity Group set a $18.00 price objective on shares of Driven Brands in a report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Driven Brands presently has an average rating of “Moderate Buy” and a consensus price target of $17.18.

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.