Driven Brands Holdings Inc. (NASDAQ:DRVN) Shares Purchased by Barclays PLC

Barclays PLC lifted its stake in Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 36.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 205,068 shares of the company's stock after buying an additional 54,277 shares during the period. Barclays PLC owned approximately 0.12% of Driven Brands worth $2,928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Innealta Capital LLC purchased a new position in shares of Driven Brands during the second quarter worth about $86,000. nVerses Capital LLC purchased a new position in Driven Brands during the 3rd quarter worth approximately $86,000. Townsquare Capital LLC acquired a new position in Driven Brands during the third quarter worth approximately $153,000. Bleakley Financial Group LLC purchased a new stake in Driven Brands in the third quarter valued at approximately $171,000. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of Driven Brands by 54.9% in the third quarter. Orion Portfolio Solutions LLC now owns 16,398 shares of the company's stock valued at $234,000 after acquiring an additional 5,815 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Driven Brands Stock Up 0.6 %

Shares of DRVN traded up $0.09 during mid-day trading on Wednesday, reaching $16.14. 146,651 shares of the stock traded hands, compared to its average volume of 1,022,740. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 403.50, a P/E/G ratio of 1.14 and a beta of 1.15. The stock has a fifty day simple moving average of $16.01 and a 200 day simple moving average of $14.33. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. Driven Brands Holdings Inc. has a 12-month low of $10.59 and a 12-month high of $17.45.

Driven Brands (NASDAQ:DRVN - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. The firm had revenue of $591.70 million for the quarter, compared to the consensus estimate of $598.49 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm's quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS. Sell-side analysts expect that Driven Brands Holdings Inc. will post 0.86 EPS for the current fiscal year.

Analysts Set New Price Targets

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