Drive Shack Inc. (NYSE:DS) Director Alan L. Tyson purchased 32,240 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were purchased at an average cost of $4.00 per share, for a total transaction of $128,960.00. Following the transaction, the director now directly owns 270,404 shares in the company, valued at $1,081,616. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Drive Shack Inc. (DS) traded down $0.03 during midday trading on Tuesday, hitting $3.96. The stock had a trading volume of 615,392 shares, compared to its average volume of 438,807. Drive Shack Inc. has a 1 year low of $2.41 and a 1 year high of $4.69. The company has a debt-to-equity ratio of 1.25, a current ratio of 5.85 and a quick ratio of 5.85. The stock has a market cap of $267.18, a PE ratio of 11.55 and a beta of 1.20.

Drive Shack (NYSE:DS) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.19. The business had revenue of $81.70 million for the quarter, compared to analysts’ expectations of $81.50 million. Drive Shack had a positive return on equity of 17.68% and a negative net margin of 12.99%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. research analysts forecast that Drive Shack Inc. will post -0.41 earnings per share for the current fiscal year.

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Separately, Zacks Investment Research raised Drive Shack from a “hold” rating to a “strong-buy” rating and set a $4.50 price target on the stock in a research report on Monday.

Institutional investors and hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund purchased a new stake in Drive Shack during the 2nd quarter worth about $132,000. Nationwide Fund Advisors lifted its holdings in Drive Shack by 114.1% during the 3rd quarter. Nationwide Fund Advisors now owns 43,582 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 23,224 shares in the last quarter. Northeast Investment Management lifted its holdings in Drive Shack by 155.0% during the 2nd quarter. Northeast Investment Management now owns 46,345 shares of the real estate investment trust’s stock worth $146,000 after purchasing an additional 28,170 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Drive Shack by 2,622.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,219 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 57,044 shares in the last quarter. Finally, Rhumbline Advisers purchased a new stake in Drive Shack during the 2nd quarter worth about $207,000. 42.91% of the stock is currently owned by institutional investors and hedge funds.

About Drive Shack

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.

Insider Buying and Selling by Quarter for Drive Shack (NYSE:DS)

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