Summit Creek Advisors LLC Has $20.18 Million Position in Driven Brands Holdings Inc. (NASDAQ:DRVN)

Summit Creek Advisors LLC boosted its position in Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Rating) by 0.4% in the first quarter, Holdings Channel.com reports. The firm owned 767,718 shares of the company’s stock after purchasing an additional 3,011 shares during the quarter. Driven Brands comprises 2.3% of Summit Creek Advisors LLC’s portfolio, making the stock its 22nd biggest holding. Summit Creek Advisors LLC’s holdings in Driven Brands were worth $20,176,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas increased its holdings in Driven Brands by 6.3% in the 1st quarter. Teacher Retirement System of Texas now owns 10,280 shares of the company’s stock worth $270,000 after purchasing an additional 611 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Driven Brands by 15.2% in the first quarter. Victory Capital Management Inc. now owns 7,577 shares of the company’s stock valued at $211,000 after buying an additional 1,002 shares during the period. Arizona State Retirement System increased its stake in shares of Driven Brands by 18.5% in the fourth quarter. Arizona State Retirement System now owns 13,514 shares of the company’s stock valued at $454,000 after buying an additional 2,114 shares during the period. Calamos Advisors LLC increased its stake in shares of Driven Brands by 4.6% in the first quarter. Calamos Advisors LLC now owns 66,480 shares of the company’s stock valued at $1,747,000 after buying an additional 2,910 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Driven Brands by 63.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,656 shares of the company’s stock valued at $257,000 after buying an additional 2,984 shares during the period. Institutional investors and hedge funds own 74.43% of the company’s stock.

Driven Brands Stock Down 1.5 %

Shares of Driven Brands stock opened at $31.16 on Friday. Driven Brands Holdings Inc. has a one year low of $24.62 and a one year high of $34.62. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.27 and a quick ratio of 1.15. The stock’s 50-day moving average is $28.78 and its 200 day moving average is $28.02. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of -173.10, a PEG ratio of 1.71 and a beta of 0.63.

Driven Brands (NASDAQ:DRVN – Get Rating) last announced its earnings results on Wednesday, July 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. Driven Brands had a positive return on equity of 10.50% and a negative net margin of 1.62%. The company had revenue of $508.60 million for the quarter, compared to analyst estimates of $480.37 million. During the same quarter in the prior year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 35.7% compared to the same quarter last year. Equities research analysts anticipate that Driven Brands Holdings Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley increased their price target on Driven Brands from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, August 1st.

About Driven Brands

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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.