Norwood Investment Partners LP Purchases Shares of 534,813 Driven Brands Holdings Inc. $DRVN

Norwood Investment Partners LP purchased a new position in Driven Brands Holdings Inc. (NASDAQ:DRVN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 534,813 shares of the company’s stock, valued at approximately $7,455,293,000. Driven Brands comprises about 10.3% of Norwood Investment Partners LP’s portfolio, making the stock its 4th largest position.

Other hedge funds have also recently modified their holdings of the company. Osaic Holdings Inc. raised its stake in shares of Driven Brands by 82.1% during the second quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock valued at $37,000 after acquiring an additional 941 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of 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 grew its stake in shares of 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 increased its holdings in Driven Brands by 1,347.7% during the 4th quarter. Larson Financial Group LLC now owns 3,822 shares of the company’s stock valued at $57,000 after purchasing an additional 3,558 shares during the period. Finally, SJS Investment Consulting Inc. raised its position in Driven Brands by 420.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 4,500 shares of the company’s stock valued at $57,000 after purchasing an additional 3,635 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Benchmark reiterated a “buy” rating on shares of Driven Brands in a report on Tuesday, May 26th. Royal Bank Of Canada decreased their target price on Driven Brands from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, August 7th. BTIG Research reaffirmed a “buy” rating and issued a $17.00 price target on shares of Driven Brands in a research note on Friday, June 12th. Weiss Ratings cut shares of Driven Brands from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen downgraded shares of Driven Brands from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.77.

Driven Brands Trading Up 1.0%

DRVN opened at $13.17 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.47 and a debt-to-equity ratio of 1.99. Driven Brands Holdings Inc. has a 52 week low of $9.80 and a 52 week high of $19.74. The stock has a market cap of $2.17 billion, a PE ratio of 12.66 and a beta of 0.95. The business has a 50 day moving average of $13.91 and a 200-day moving average of $13.50.

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

Driven Brands Company Profile

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.