Driven Brands Holdings Inc. (NASDAQ:DRVN) Sees Large Increase in Short Interest

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

Wall Street Analyst Weigh In

Several research firms have weighed in on DRVN. William Blair raised Driven Brands from a “market perform” rating to an “outperform” rating in a research report on Wednesday, December 3rd. Stifel Nicolaus set a $23.00 price target on Driven Brands in a research report on Monday, November 17th. Benchmark reiterated a “buy” rating on shares of Driven Brands in a report on Wednesday, December 3rd. JPMorgan Chase & Co. lowered their price objective on Driven Brands from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, November 12th. Finally, Piper Sandler reduced their target price on shares of Driven Brands from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Driven Brands has an average rating of “Moderate Buy” and an average price target of $21.22.

Driven Brands Trading Down 1.2%

Driven Brands stock opened at $14.82 on Friday. Driven Brands has a 12 month low of $13.44 and a 12 month high of $19.74. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -11.95, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04. The business’s fifty day simple moving average is $14.64 and its two-hundred day simple moving average is $16.23. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 2.44.

Driven Brands (NASDAQ:DRVN) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share for the quarter. The firm had revenue of $564.12 million during the quarter. Driven Brands had a positive return on equity of 25.31% and a negative net margin of 9.14%. As a group, equities analysts predict that Driven Brands will post 0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DRVN. Tudor Investment Corp ET AL increased its position in shares of Driven Brands by 63.2% during the third quarter. Tudor Investment Corp ET AL now owns 155,000 shares of the company’s stock valued at $2,497,000 after acquiring an additional 60,000 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Driven Brands during the third quarter valued at $369,000. XTX Topco Ltd lifted its holdings in shares of Driven Brands by 133.6% during the third quarter. XTX Topco Ltd now owns 57,457 shares of the company’s stock valued at $926,000 after purchasing an additional 32,861 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Driven Brands during the third quarter valued at $12,599,000. Finally, Lombard Odier Asset Management USA Corp increased its holdings in Driven Brands by 14.9% in the 3rd quarter. Lombard Odier Asset Management USA Corp now owns 85,829 shares of the company’s stock worth $1,383,000 after buying an additional 11,114 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

Driven Brands Company 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.