Bamco Inc. NY Buys 500,000 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Bamco Inc. NY grew its holdings in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 16.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,500,000 shares of the company's stock after purchasing an additional 500,000 shares during the period. Bamco Inc. NY owned about 2.13% of Driven Brands worth $49,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. North Peak Capital Management LLC increased its stake in Driven Brands by 1.8% during the 3rd quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company's stock valued at $75,617,000 after purchasing an additional 95,529 shares in the last quarter. Scopia Capital Management LP purchased a new position in Driven Brands during the third quarter worth approximately $16,890,000. AQR Capital Management LLC raised its position in Driven Brands by 79.9% during the second quarter. AQR Capital Management LLC now owns 929,073 shares of the company's stock worth $11,483,000 after acquiring an additional 412,547 shares during the period. Marshall Wace LLP lifted its stake in Driven Brands by 516.2% in the 2nd quarter. Marshall Wace LLP now owns 612,436 shares of the company's stock valued at $7,796,000 after buying an additional 513,045 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Driven Brands by 15.3% during the second quarter. Squarepoint Ops LLC now owns 241,306 shares of the company's stock worth $3,072,000 after purchasing an additional 31,978 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.

Driven Brands Stock Performance

Shares of DRVN stock traded down $0.11 on Tuesday, hitting $16.87. 402,097 shares of the stock traded hands, compared to its average volume of 1,046,347. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.90 and a quick ratio of 1.72. Driven Brands Holdings Inc. has a 1-year low of $10.59 and a 1-year high of $17.35. The company's fifty day moving average is $15.25 and its 200 day moving average is $13.72. The company has a market capitalization of $2.77 billion, a PE ratio of 421.75, a PEG ratio of 1.13 and a beta of 1.15.

Driven Brands (NASDAQ:DRVN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. Driven Brands had a return on equity of 14.86% and a net margin of 0.27%. The business had revenue of $591.70 million during the quarter, compared to analyst estimates of $598.49 million. During the same period in the prior year, the company posted $0.19 EPS. The business's revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that Driven Brands Holdings Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DRVN has been the topic of a number of recent research reports. Benchmark reissued a "buy" rating and set a $20.00 price objective on shares of Driven Brands in a research note on Tuesday, August 20th. Royal Bank of Canada upped their price target on Driven Brands from $17.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Stifel Nicolaus upped their target price on shares of Driven Brands from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group boosted their price objective on Driven Brands from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Driven Brands presently has an average rating of "Moderate Buy" and an average price target of $17.86.

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.