Marshall Wace LLP Purchases 513,045 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Marshall Wace LLP raised its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 516.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 612,436 shares of the company's stock after buying an additional 513,045 shares during the quarter. Marshall Wace LLP owned about 0.37% of Driven Brands worth $7,796,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Driven Brands during the 1st quarter valued at about $26,000. GAMMA Investing LLC raised its holdings in Driven Brands by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,738 shares of the company's stock valued at $43,000 after buying an additional 904 shares during the last quarter. Parallel Advisors LLC grew its holdings in Driven Brands by 579.2% in the 4th quarter. Parallel Advisors LLC now owns 3,437 shares of the company's stock worth $49,000 after acquiring an additional 2,931 shares during the last quarter. Innealta Capital LLC purchased a new position in Driven Brands during the 2nd quarter valued at about $86,000. Finally, Wedmont Private Capital bought a new position in shares of Driven Brands during the first quarter valued at approximately $159,000. 77.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DRVN. Benchmark reiterated a "buy" rating and set a $20.00 price target on shares of Driven Brands in a research report on Tuesday, August 20th. Canaccord Genuity Group lifted their price target on Driven Brands from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Baird R W upgraded Driven Brands to a "strong-buy" rating in a report on Friday, August 2nd. Robert W. Baird boosted their target price on shares of Driven Brands from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada increased their price target on shares of Driven Brands from $14.00 to $16.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $16.95.

Driven Brands Stock Down 0.3 %

Shares of NASDAQ:DRVN traded down $0.04 during trading on Monday, reaching $14.27. 616,428 shares of the stock traded hands, compared to its average volume of 1,149,353. The stock has a market cap of $2.34 billion, a P/E ratio of -3.07, a price-to-earnings-growth ratio of 0.89 and a beta of 1.13. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.91 and a current ratio of 2.11. The stock has a 50-day moving average of $13.85 and a two-hundred day moving average of $13.32. Driven Brands Holdings Inc. has a 52-week low of $10.59 and a 52-week high of $16.00.

Driven Brands (NASDAQ:DRVN - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.07. The business had revenue of $611.60 million during the quarter, compared to analyst estimates of $628.34 million. Driven Brands had a positive return on equity of 15.12% and a negative net margin of 33.56%. The company's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. As a group, sell-side analysts expect that Driven Brands Holdings Inc. will post 0.88 earnings per share for the current fiscal year.

Driven Brands Company 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.