Russell Investments Group Ltd. Has $2.77 Million Stock Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Russell Investments Group Ltd. raised its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN - Free Report) by 186.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,391 shares of the company's stock after buying an additional 111,519 shares during the period. Russell Investments Group Ltd. owned about 0.10% of Driven Brands worth $2,766,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in shares of Driven Brands by 34.5% in the fourth quarter. Wells Fargo & Company MN now owns 34,722 shares of the company's stock worth $560,000 after acquiring an additional 8,909 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in Driven Brands during the 4th quarter worth approximately $230,000. Rangeley Capital LLC acquired a new stake in Driven Brands during the 4th quarter valued at $694,000. Alliancebernstein L.P. lifted its holdings in shares of Driven Brands by 8.5% in the fourth quarter. Alliancebernstein L.P. now owns 78,731 shares of the company's stock valued at $1,271,000 after purchasing an additional 6,200 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Driven Brands by 687.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 114,327 shares of the company's stock worth $1,845,000 after buying an additional 99,811 shares during the period. Institutional investors and hedge funds own 77.08% of the company's stock.

Driven Brands Stock Up 3.7 %

DRVN stock traded up $0.59 during trading hours on Wednesday, hitting $16.44. The company's stock had a trading volume of 74,886 shares, compared to its average volume of 889,576. The stock has a 50 day moving average price of $16.41 and a two-hundred day moving average price of $16.07. Driven Brands Holdings Inc. has a 12 month low of $10.59 and a 12 month high of $18.01. The company has a market capitalization of $2.70 billion, a PE ratio of 411.00, a price-to-earnings-growth ratio of 0.79 and a beta of 1.09. 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 (NASDAQ:DRVN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm had revenue of $564.12 million during the quarter, compared to analysts' expectations of $572.95 million. During the same period in the prior year, the company posted $0.19 earnings per share. Driven Brands's revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts expect that Driven Brands Holdings Inc. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on DRVN shares. Canaccord Genuity Group upped their price target on Driven Brands from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Robert W. Baird set a $25.00 price target on shares of Driven Brands in a research report on Thursday, March 13th. Piper Sandler raised their price target on shares of Driven Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. BMO Capital Markets upped their price objective on shares of Driven Brands from $15.00 to $16.00 and gave the company a "market perform" rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Driven Brands from $14.50 to $17.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Three 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 stock. According to data from MarketBeat.com, Driven Brands currently has an average rating of "Moderate Buy" and a consensus target price of $20.50.

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.