AustralianSuper Pty Ltd Makes New Investment in Driven Brands Holdings Inc. $DRVN

AustralianSuper Pty Ltd acquired a new stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) during the third quarter, Holdings Channel.com reports. The firm acquired 2,771,251 shares of the company’s stock, valued at approximately $44,645,000.

Several other institutional investors have also recently made changes to their positions in DRVN. Osaic Holdings Inc. boosted its stake in shares of Driven Brands by 82.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,087 shares of the company’s stock worth $37,000 after purchasing an additional 941 shares during the period. EverSource Wealth Advisors LLC raised its position in Driven Brands by 744.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,103 shares of the company’s stock worth $37,000 after purchasing an additional 1,854 shares during the period. Farther Finance Advisors LLC lifted its stake in Driven Brands by 1,113.8% in the third quarter. Farther Finance Advisors LLC now owns 3,338 shares of the company’s stock worth $54,000 after purchasing an additional 3,063 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of Driven Brands during the third quarter valued at approximately $84,000. Finally, Federated Hermes Inc. purchased a new position in shares of Driven Brands during the third quarter valued at approximately $108,000. Institutional investors own 77.08% of the company’s stock.

Driven Brands Stock Down 2.0%

NASDAQ:DRVN opened at $16.74 on Tuesday. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.90 and a quick ratio of 0.80. Driven Brands Holdings Inc. has a 1-year low of $13.44 and a 1-year high of $19.74. The company has a 50-day moving average of $15.77 and a 200 day moving average of $15.88. The firm has a market cap of $2.75 billion, a PE ratio of -13.50, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Analyst Ratings Changes

Several brokerages have recently weighed in on DRVN. Weiss Ratings reiterated a “sell (d)” rating on shares of Driven Brands in a report on Monday, December 29th. BTIG Research reiterated a “buy” rating and issued a $21.00 target price on shares of Driven Brands in a research note on Thursday, January 8th. William Blair upgraded Driven Brands from a “market perform” rating to an “outperform” rating in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. cut their price target on shares of Driven Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. Finally, Benchmark reiterated a “buy” rating on shares of Driven Brands in a report on Wednesday, December 3rd. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.80.

Insider Buying and Selling at Driven Brands

In other news, insider Scott L. O’melia sold 46,875 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $16.00, for a total value of $750,000.00. Following the completion of the sale, the insider owned 326,944 shares of the company’s stock, valued at approximately $5,231,104. This represents a 12.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Driven Brands Profile

Driven Brands Holdings Inc (NASDAQ: DRVN) is a leading North American provider of automotive aftermarket services, operating through a network of franchised and company-owned locations. The company’s platform encompasses a diverse portfolio of car care and maintenance brands, including Meineke Car Care Centers, Maaco Collision Repair & Auto Painting, Take 5 Oil Change, and Carstar Collision Repair. Driven Brands delivers a full range of services from routine maintenance and oil changes to collision repair, paint protection, and vehicle customization.

Headquartered in Charlotte, North Carolina, Driven Brands serves both individual consumers and commercial clients across the United States and Canada.