American Century Companies Inc. Has $366,000 Stock Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

American Century Companies Inc. reduced its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 28.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,748 shares of the company’s stock after selling 11,290 shares during the quarter. American Century Companies Inc.’s holdings in Driven Brands were worth $366,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of DRVN. SG Americas Securities LLC increased its position in shares of Driven Brands by 396.7% during the second quarter. SG Americas Securities LLC now owns 123,531 shares of the company’s stock valued at $1,573,000 after purchasing an additional 98,662 shares during the period. Grizzlyrock Capital LLC acquired a new position in shares of Driven Brands in the 4th quarter valued at $2,311,000. Bamco Inc. NY raised its stake in shares of Driven Brands by 14.3% in the 1st quarter. Bamco Inc. NY now owns 2,000,000 shares of the company’s stock valued at $31,580,000 after buying an additional 250,000 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Driven Brands by 12.0% during 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 period. Finally, Norden Group LLC acquired a new stake in shares of Driven Brands during the 1st quarter valued at about $182,000. 77.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DRVN shares. BMO Capital Markets began coverage on Driven Brands in a research report on Monday, July 22nd. They issued a “market perform” rating and a $14.00 price target on the stock. The Goldman Sachs Group increased their target price on shares of Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their price target on shares of Driven Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird raised their price objective on shares of Driven Brands from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of Driven Brands in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.95.

Driven Brands Stock Performance

DRVN opened at $14.44 on Friday. The company has a debt-to-equity ratio of 3.03, a current ratio of 2.11 and a quick ratio of 1.91. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -3.13, a P/E/G ratio of 0.89 and a beta of 1.13. The business’s 50-day moving average price is $13.95 and its two-hundred day moving average price is $13.33. Driven Brands Holdings Inc. has a 1 year low of $10.59 and a 1 year high of $16.00.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.07. The firm had revenue of $611.60 million for the quarter, compared to analyst estimates of $628.34 million. Driven Brands had a negative net margin of 33.56% and a positive return on equity of 15.12%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS. Equities analysts expect that Driven Brands Holdings Inc. will post 0.88 EPS for the current fiscal year.

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.