Driven Brands Holdings Inc. (NASDAQ:DRVN) Short Interest Up 23.0% in December

by · The Cerbat Gem

Driven Brands Holdings Inc. (NASDAQ:DRVN – Get Free Report) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 10,912,759 shares, an increase of 23.0% from the November 30th total of 8,869,397 shares. Approximately 6.8% of the company’s stock are sold short. Based on an average daily volume of 1,294,684 shares, the short-interest ratio is currently 8.4 days. Based on an average daily volume of 1,294,684 shares, the short-interest ratio is currently 8.4 days. Approximately 6.8% of the company’s stock are sold short.

Institutional Trading of Driven Brands

A number of large investors have recently made changes to their positions in the stock. AustralianSuper Pty Ltd purchased a new position in shares of Driven Brands during the third quarter valued at approximately $44,645,000. Simcoe Capital Management LLC purchased a new stake in Driven Brands during the 3rd quarter valued at $33,911,000. Emeth Value Capital LLC lifted its holdings in shares of Driven Brands by 34.8% during the 3rd quarter. Emeth Value Capital LLC now owns 3,263,911 shares of the company’s stock valued at $52,745,000 after buying an additional 842,668 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Driven Brands in the 3rd quarter worth $12,599,000. Finally, Advisory Research Inc. bought a new stake in shares of Driven Brands in the third quarter worth $10,725,000. 77.08% of the stock is currently owned by institutional investors.

Driven Brands Stock Down 1.7%

NASDAQ DRVN traded down $0.26 during mid-day trading on Wednesday, reaching $14.75. The stock had a trading volume of 262,777 shares, compared to its average volume of 852,241. Driven Brands has a 1 year low of $13.44 and a 1 year high of $19.74. The stock has a market cap of $2.42 billion, a PE ratio of -11.92, a price-to-earnings-growth ratio of 1.23 and a beta of 1.04. The company has a fifty day moving average price of $14.68 and a 200 day moving average price of $16.25. 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 (NASDAQ:DRVN – Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share for the quarter. Driven Brands had a positive return on equity of 25.31% and a negative net margin of 9.14%.The firm had revenue of $564.12 million during the quarter. On average, research analysts expect that Driven Brands will post 0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Benchmark restated a “buy” rating on shares of Driven Brands in a report on Wednesday, December 3rd. JPMorgan Chase & Co. lowered their price target on shares of Driven Brands from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Driven Brands in a research note on Monday. Canaccord Genuity Group restated a “buy” rating and issued a $24.00 price objective on shares of Driven Brands in a report on Thursday, September 18th. Finally, Stifel Nicolaus set a $23.00 target price on shares of Driven Brands in a report on Monday, November 17th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.22.

View Our Latest Report on DRVN

About Driven Brands

(Get Free Report)

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.

Read More