DRVN stock rated a Mkt perform by William Blair

In a filing, Driven Brands Holdings Inc. revealed its Chief Executive Officer Fitzpatrick Jonathan G. acquired Company’s shares for reported $1.0 million on May 30. In the deal valued at $23.76 per share,42,000 shares were bought. As a result of this transaction, Fitzpatrick Jonathan G. now holds 2,332,363 shares worth roughly $ 31.21 million.

Then, Ferrera Gary W bought 4,000 shares, generating $96,920 in total proceeds. Upon buying the shares at $24.23, the EVP & Chief Financial Officer now owns 63,101 shares.

William Blair downgraded its Driven Brands Holdings Inc. [DRVN] rating to a Mkt perform from a an Outperform in a research note published on Monday.

Price Performance Review of DRVN

On Monday, Driven Brands Holdings Inc. [NASDAQ:DRVN] saw its stock fall -1.98% to $13.38. On the same session, the stock had its day’s lowest price of $13.37, but rose to a high of $13.89. Over the last five days, the stock has lost -2.26%. Driven Brands Holdings Inc. shares have fallen nearly -51.01% since the year began. Nevertheless, the stocks have fallen -59.47% over the past one year. While a 52-week high of $32.97 was reached on 04/28/23, a 52-week low of $13.15 was recorded on 08/02/23. SMA at 50 days reached $18.58, while 200 days put it at $25.70. A total of 1.51 million shares were traded, compared to the trading of 1.07 million shares in the previous session.

Levels Of Support And Resistance For DRVN Stock

The 24-hour chart illustrates a support level at 13.20, which if violated will result in even more drops to 13.03. On the upside, there is a resistance level at 13.72. A further resistance level may holdings at 14.07. The Relative Strength Index (RSI) on the 14-day chart is 25.70, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.49, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 99.49%. Stochastics %K at 10.76% indicates the stock is a buying.

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 Aug 30, 2023, dropping by -0.7 million shares to a total of 1.43 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 2.13 million shares. There was a decline of -48.95%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.31% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.55.

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

In filings from Neuberger Berman Investment Advis, it is revealed that the company now owns 5,632,744 shares, or roughly 3.36% of the outstanding DRVN shares. In other words, the investor’s shares have risen by 50,113 from its previous 13-F filing of 5582631.0. Additionally, AllianceBernstein LP decreased -1.03% of its stake after which the total value it holdings stand at $84,437,604, while The Vanguard Group, Inc. reduced -0.20% of its stake to hold $78.28 million in the firm. Over the last quarter, JPMorgan Investment Management, I purchased 173,089 shares of Driven Brands Holdings Inc., while Millennium Management LLC bought 180,501 shares. At present, BAMCO, Inc. is holding 2,500,000 shares valued at $37.62 million. Bain Capital Public Equity LP owned 2,227,254 shares of the company at the time of its most recent 13F filing, worth $33.52 million.

According to FactSet, Driven Brands Holdings Inc.’s share price will average $23.42 in the next year, based on opinions of analysts polled by the firm. This is up nearly 68.5 percent from its previous closing price of $13.65. Analysts expect Driven Brands Holdings Inc. stock to reach the higher price of $36.00, while the lowest price estimate is $17.00. However, 13 analysts have rated DRVN stock as an Overweight in their predictions for 2023.