GSA Capital Partners LLP Acquires Shares of 48,858 Driven Brands Holdings Inc. (NASDAQ:DRVN)

GSA Capital Partners LLP bought a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund bought 48,858 shares of the company's stock, valued at approximately $697,000.

A number of other hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in Driven Brands by 396.7% in the 2nd quarter. SG Americas Securities LLC now owns 123,531 shares of the company's stock worth $1,573,000 after acquiring an additional 98,662 shares during the last quarter. Bamco Inc. NY increased its holdings in Driven Brands by 14.3% in the 1st quarter. Bamco Inc. NY now owns 2,000,000 shares of the company's stock worth $31,580,000 after acquiring an additional 250,000 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Driven Brands in the 2nd quarter worth about $816,000. Sei Investments Co. increased its holdings in Driven Brands by 12.0% in the 1st quarter. Sei Investments Co. now owns 78,370 shares of the company's stock worth $1,237,000 after acquiring an additional 8,372 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Driven Brands by 39.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 233,040 shares of the company's stock worth $2,967,000 after acquiring an additional 65,567 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DRVN. Baird R W raised Driven Brands to a "strong-buy" rating in a report on Friday, August 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $17.00 target price (up previously from $14.00) on shares of Driven Brands in a report on Friday, August 2nd. Royal Bank of Canada lifted their target price on Driven Brands from $17.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, November 1st. The Goldman Sachs Group lifted their target price on Driven Brands from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Finally, BMO Capital Markets began coverage on Driven Brands in a report on Monday, July 22nd. They set a "market perform" rating and a $14.00 target price for the company. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.86.

Driven Brands Price Performance

Shares of NASDAQ DRVN traded down $0.16 during midday trading on Monday, hitting $16.48. 339,678 shares of the company's stock were exchanged, compared to its average volume of 1,073,951. Driven Brands Holdings Inc. has a 12-month low of $10.59 and a 12-month high of $16.93. The company has a current ratio of 1.90, a quick ratio of 1.72 and a debt-to-equity ratio of 2.84. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 412.00, a PEG ratio of 1.10 and a beta of 1.11. The business's fifty day moving average price is $14.78 and its two-hundred day moving average price is $13.35.

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

About Driven Brands

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.