Short Interest Update on Darden Restaurants (DRI)

Darden Restaurants (DRI) : The traders have covered their outstanding shorts in Darden Restaurants (DRI) to the tune of -1,184,074 shares, a change of -8.7%. As on Jul 29, 2016, the outstanding shorts on the stock were 13,537,693 shares, however, by August 15, 2016, the shorts had reduced to 12,353,619 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 9.8% of the free float of the stock. It takes 7 days to cover the outstanding short positions. The stock has an average daily volume of 1,737,594 shares. The short interest information was released on Wednesday Aug 24th after the market close.

Darden Restaurants (NYSE:DRI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $62.63 and $62.51 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $63.22. The buying momentum continued till the end and the stock did not give up its gains. It closed at $62.96, notching a gain of 0.80% for the day. The total traded volume was 1,789,969 . The stock had closed at $62.46 on the previous day.


In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Darden Restaurants Inc, Fogarty James P had purchased shares worth of $185,100 in a transaction dated on July 7, 2016. A total of 3,000 shares were purchased at a price of $61.7 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Darden Restaurants, Inc. is a full service restaurant company. The Company owns and operates more than 1,500 restaurants. The Companys restaurant brands include Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie Vs Prime Seafood, Wildfish Seafood Grill and Yard House. Through subsidiaries, the Company owns and operates all of its restaurants in the United States and Canada, except for three restaurants located in Florida and three restaurants in California, which are owned jointly by the Company and third parties, and managed by the Company, seven franchised restaurants in Puerto Rico and one Atlanta, Georgia airport location.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.