The Attractiveness of Investing In Driven Brands Holdings Inc. (DRVN) is Growing

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Driven Brands Holdings Inc.’s recently made public that its 10% Owner RC IV Cayman ICW Holdings LLC unloaded Company’s shares for reported $72.66 million on Sep 15. In the deal valued at $32.19 per share,2,257,203 shares were sold. As a result of this transaction, RC IV Cayman ICW Holdings LLC now holds 14,056,415 shares worth roughly $ 425.35 million.

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Then, ARONSON NEAL K sold 7,000,000 shares, generating $225,330,000 in total proceeds. Upon selling the shares at $32.19, the Director now owns 32,758,952 shares.

Before that, Driven Equity LLC sold 4,742,797 shares. Driven Brands Holdings Inc. shares valued at $152,670,635 were divested by the 10% Owner at a price of $32.19 per share. As a result of the transaction, Driven Equity LLC now holds 29,535,108 shares, worth roughly $893.73 million.

Morgan Stanley upgraded its Driven Brands Holdings Inc. [DRVN] rating to an Overweight from a an Equal-weight in a research note published on Friday, October 29, 2021; the price target was increased to $39 from $35. PT values the company’s stock at a premium of 22.41 to its Friday closing price. A number of analysts have revised their coverage, including Stifel’s analysts, who began to cover the stock in late June with a ‘”a Buy”‘ rating. William Blair started covering the stock on February 09, 2021. It rated DRVN as “an Outperform”.

Price Performance Review of DRVN

On Friday, Driven Brands Holdings Inc. [NASDAQ:DRVN] saw its stock fall -0.92% to $30.26. On the same session, the stock had its day’s lowest price of $29.94, but rose to a high of $31.01. Over the last five days, the stock has lost -4.12%. Driven Brands Holdings Inc. shares have fallen nearly -9.99% since the year began. Nevertheless, the stocks have fallen -2.42% over the past one year. While a 52-week high of $35.45 was reached on 09/12/22, a 52-week low of $24.62 was recorded on 05/12/22. SMA at 50 days reached $31.13, while 200 days put it at $29.06. A total of 0.83 million shares were traded, compared to the trading of 0.7 million shares in the previous session.

Levels Of Support And Resistance For DRVN Stock

The 24-hour chart illustrates a support level at 29.80, which if violated will result in even more drops to 29.33. On the upside, there is a resistance level at 30.87. A further resistance level may holdings at 31.47. The Relative Strength Index (RSI) on the 14-day chart is 45.86, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.82, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.10%. Stochastics %K at 29.88% indicates the stock is a holding.

How much short interest is there in Driven Brands Holdings Inc.?

A steep rise in short interest was recorded in Driven Brands Holdings Inc. stocks on Jul 14, 2022, growing by 0.51 million shares to a total of 3.13 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 2.62 million shares. There was a rise of 16.29%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.68% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.83.

Driven Brands Holdings Inc. [DRVN] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 4,579,510 shares, or roughly 2.74% of the outstanding DRVN shares. In other words, the investor’s shares have risen by 68,862 from its previous 13-F filing of 4510648.0. Additionally, Neuberger Berman Investment Advis increased 13.60% of its stake after which the total value it holdings stand at $125,916,268, while JPMorgan Investment Management, I added 3.17% of its stake to hold $117.82 million in the firm. Over the last quarter, AllianceBernstein LP sold -249,999 shares of Driven Brands Holdings Inc., while Bain Capital Public Equity LP sold -489,328 shares. At present, Capital Research & Management Co is holding 2,342,000 shares valued at $65.53 million. Fidelity Management & Research Co owned 2,304,871 shares of the company at the time of its most recent 13F filing, worth $64.49 million.

According to FactSet, Driven Brands Holdings Inc.’s share price will average $40.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 24.43 percent from its previous closing price of $30.54. Analysts expect Driven Brands Holdings Inc. stock to reach the higher price of $48.00, while the lowest price estimate is $33.00. However, 8 analysts have rated DRVN stock as a Buy in their predictions for 2022. The most recent change occurred on February 09, 2021 when Robert W. Baird began covering the stock and recommended ‘”an Outperform”‘ rating along with a $37 price target.


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