Drive Shack Inc. (NYSE:DS) Director Wesley R. Edens bought 561,317 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were bought at an average price of $4.09 per share, with a total value of $2,295,786.53. Following the completion of the purchase, the director now owns 1,816,729 shares in the company, valued at $7,430,421.61. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Drive Shack Inc. (NYSE:DS) traded up $0.02 during mid-day trading on Tuesday, hitting $4.09. 376,600 shares of the stock were exchanged, compared to its average volume of 544,586. Drive Shack Inc. has a 52 week low of $2.41 and a 52 week high of $4.55. The firm has a market cap of $272.54, a PE ratio of 12.33 and a beta of 1.35. The company has a current ratio of 5.85, a quick ratio of 5.85 and a debt-to-equity ratio of 1.25.
Drive Shack (NYSE:DS) last announced its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.19. Drive Shack had a negative net margin of 12.99% and a positive return on equity of 17.68%. The company had revenue of $81.70 million during the quarter, compared to analysts’ expectations of $81.50 million. The business’s quarterly revenue was down 1.8% on a year-over-year basis. research analysts forecast that Drive Shack Inc. will post -0.41 EPS for the current year.
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Several hedge funds have recently made changes to their positions in DS. Bank of New York Mellon Corp raised its stake in shares of Drive Shack by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 301,257 shares of the real estate investment trust’s stock valued at $1,250,000 after buying an additional 7,760 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Drive Shack by 106.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 120,254 shares of the real estate investment trust’s stock valued at $499,000 after buying an additional 62,025 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Drive Shack in the 1st quarter valued at $1,941,000. Morgan Stanley raised its stake in shares of Drive Shack by 11.2% in the 1st quarter. Morgan Stanley now owns 622,885 shares of the real estate investment trust’s stock valued at $2,585,000 after buying an additional 62,947 shares in the last quarter. Finally, Credit Suisse AG raised its stake in shares of Drive Shack by 39.6% in the 1st quarter. Credit Suisse AG now owns 123,230 shares of the real estate investment trust’s stock valued at $512,000 after buying an additional 34,929 shares in the last quarter. Institutional investors own 42.76% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Drive Shack from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research note on Tuesday, October 17th.
Drive Shack Company Profile
Drive Shack Inc, formerly Newcastle Investment Corp., is a leisure company. The Company is an owner and operator of golf-related leisure and entertainment businesses. The Company’s portfolio consists of Drive Shack, which is engaged in developing nationwide network of golf entertainment venues; American Golf Corporation, which is a golf course company, and real estate-related assets.
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