Millrace Asset Group Inc. Buys Shares of 99,521 Driven Brands Holdings Inc. (NASDAQ:DRVN)

Millrace Asset Group Inc. bought a new position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 99,521 shares of the company’s stock, valued at approximately $1,420,000. Millrace Asset Group Inc. owned 0.06% of Driven Brands at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. North Peak Capital Management LLC raised its stake in Driven Brands by 1.8% during the 3rd quarter. North Peak Capital Management LLC now owns 5,299,000 shares of the company’s stock worth $75,617,000 after buying an additional 95,529 shares during the period. AQR Capital Management LLC raised its position in shares of Driven Brands by 79.9% during the second quarter. AQR Capital Management LLC now owns 929,073 shares of the company’s stock worth $11,483,000 after purchasing an additional 412,547 shares during the period. Marshall Wace LLP raised its position in shares of Driven Brands by 516.2% during the second quarter. Marshall Wace LLP now owns 612,436 shares of the company’s stock worth $7,796,000 after purchasing an additional 513,045 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of Driven Brands by 15.3% during the 2nd quarter. Squarepoint Ops LLC now owns 241,306 shares of the company’s stock valued at $3,072,000 after purchasing an additional 31,978 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Driven Brands by 39.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 233,040 shares of the company’s stock valued at $2,967,000 after purchasing an additional 65,567 shares during the period. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Driven Brands Stock Up 2.1 %

DRVN stock opened at $17.04 on Tuesday. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 426.00, a P/E/G ratio of 1.11 and a beta of 1.11. Driven Brands Holdings Inc. has a twelve month low of $10.59 and a twelve month high of $17.35. The business has a 50 day moving average price of $15.03 and a two-hundred day moving average price of $13.52. 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) last released its earnings results on Thursday, October 31st. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The business had revenue of $591.70 million during the quarter, compared to analysts’ expectations of $598.49 million. During the same period last year, the business earned $0.19 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. Analysts anticipate that Driven Brands Holdings Inc. will post 0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DRVN shares. Benchmark reaffirmed a “buy” rating and issued a $20.00 price target on shares of Driven Brands in a research note on Tuesday, August 20th. Robert W. Baird upped their target price on shares of Driven Brands from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Canaccord Genuity Group increased their target price on Driven Brands from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Baird R W upgraded Driven Brands to a “strong-buy” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price objective on Driven Brands from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Driven Brands currently has an average rating of “Moderate Buy” and an average price target of $17.86.

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.