Cipher Capital LP Raises Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

by · The Cerbat Gem

Cipher Capital LP lifted its stake in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN – Free Report) by 181.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,748 shares of the company’s stock after purchasing an additional 24,961 shares during the period. Cipher Capital LP’s holdings in Driven Brands were worth $1,049,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. MetLife Investment Management LLC purchased a new stake in shares of Driven Brands during the 1st quarter worth approximately $28,000. Tower Research Capital LLC TRC increased its stake in shares of Driven Brands by 54.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,560 shares of the company’s stock worth $44,000 after purchasing an additional 552 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Driven Brands during the 4th quarter worth approximately $44,000. Lazard Asset Management LLC purchased a new stake in shares of Driven Brands during the 4th quarter worth approximately $44,000. Finally, Covestor Ltd increased its stake in shares of Driven Brands by 883.6% during the 2nd quarter. Covestor Ltd now owns 3,472 shares of the company’s stock worth $94,000 after purchasing an additional 3,119 shares during the last quarter. Hedge funds and other institutional investors own 36.97% of the company’s stock.

Analyst Upgrades and Downgrades

DRVN has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Driven Brands from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Barclays reduced their price objective on shares of Driven Brands from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, September 22nd. The Goldman Sachs Group reduced their price objective on shares of Driven Brands from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Bank of America reduced their price objective on shares of Driven Brands from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, September 21st. Finally, TheStreet lowered shares of Driven Brands from a “c-” rating to a “d+” rating in a research note on Thursday, August 17th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $25.90.

Get Our Latest Stock Analysis on DRVN

Driven Brands Stock Down 1.9 %

DRVN opened at $12.85 on Friday. The company has a fifty day moving average price of $12.06 and a 200-day moving average price of $17.77. The firm has a market capitalization of $2.11 billion, a P/E ratio of -3.00, a price-to-earnings-growth ratio of 1.30 and a beta of 1.12. The company has a debt-to-equity ratio of 3.27, a current ratio of 1.80 and a quick ratio of 1.63. Driven Brands Holdings Inc. has a one year low of $10.60 and a one year high of $31.47.

Driven Brands (NASDAQ:DRVN – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $581.03 million during the quarter, compared to analyst estimates of $571.72 million. Driven Brands had a negative net margin of 30.76% and a positive return on equity of 10.33%. Equities research analysts expect that Driven Brands Holdings Inc. will post 0.87 earnings per share for the current fiscal year.

Driven Brands Company Profile

(Free Report)

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. The company offers various services, such as paint, collision, glass, vehicle repair, car wash, oil change, and maintenance services.

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