Norden Group LLC Makes New $182,000 Investment in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Norden Group LLC purchased a new stake in Driven Brands Holdings Inc. (NASDAQ:DRVN) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,536 shares of the company’s stock, valued at approximately $182,000.

Several other large investors have also modified their holdings of DRVN. Allspring Global Investments Holdings LLC purchased a new position in Driven Brands in the 1st quarter valued at about $26,000. Lindbrook Capital LLC lifted its stake in shares of Driven Brands by 126.9% during the fourth quarter. Lindbrook Capital LLC now owns 2,850 shares of the company’s stock valued at $41,000 after buying an additional 1,594 shares during the period. GAMMA Investing LLC boosted its position in Driven Brands by 49.3% during the first quarter. GAMMA Investing LLC now owns 2,738 shares of the company’s stock worth $43,000 after acquiring an additional 904 shares during the last quarter. Parallel Advisors LLC grew its stake 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 period. Finally, Quent Capital LLC raised its holdings in Driven Brands by 17.1% in the 4th quarter. Quent Capital LLC now owns 8,921 shares of the company’s stock valued at $127,000 after acquiring an additional 1,304 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DRVN. The Goldman Sachs Group decreased their price objective on Driven Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Barclays dropped their price objective on shares of Driven Brands from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. JPMorgan Chase & Co. cut shares of Driven Brands from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $12.50 in a research report on Friday, May 3rd. Canaccord Genuity Group dropped their price target on shares of Driven Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Finally, Piper Sandler decreased their price target on shares of Driven Brands from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.61.

Driven Brands Stock Up 1.2 %

Shares of Driven Brands stock opened at $13.02 on Monday. Driven Brands Holdings Inc. has a twelve month low of $10.59 and a twelve month high of $27.65. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -2.79, a price-to-earnings-growth ratio of 0.77 and a beta of 1.12. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 3.20. The company has a fifty day moving average price of $11.74 and a 200 day moving average price of $13.24.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Thursday, May 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $572.23 million during the quarter, compared to analyst estimates of $584.31 million. Driven Brands had a positive return on equity of 12.08% and a negative net margin of 33.30%. Equities research analysts forecast that Driven Brands Holdings Inc. will post 0.87 earnings per share 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.