Drive Shack Inc. (DS) Director Buys $1,583,613.15 in Stock
Drive Shack Inc. (NYSE:DS) Director Wesley R. Edens acquired 398,895 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was bought at an average cost of $3.97 per share, with a total value of $1,583,613.15. Following the completion of the acquisition, the director now directly owns 1,611,510 shares in the company, valued at $6,397,694.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Drive Shack Inc. (DS) opened at $4.07 on Friday. 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 Inc. has a fifty-two week low of $2.41 and a fifty-two week high of $4.55. The company has a market capitalization of $272.54, a price-to-earnings ratio of 12.33 and a beta of 1.35.
Drive Shack (NYSE:DS) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.19. Drive Shack had a positive return on equity of 17.68% and a negative net margin of 12.99%. The company had revenue of $81.70 million during the quarter, compared to analysts’ expectations of $81.50 million. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. research analysts expect that Drive Shack Inc. will post -0.41 earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its holdings in shares of Drive Shack by 29.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 348,678 shares of the real estate investment trust’s stock worth $1,098,000 after buying an additional 79,688 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Drive Shack during the 2nd quarter worth $1,140,000. Morgan Stanley raised its holdings in shares of Drive Shack by 11.2% during the 1st quarter. Morgan Stanley now owns 622,885 shares of the real estate investment trust’s stock worth $2,585,000 after buying an additional 62,947 shares in the last quarter. Boston Partners raised its holdings in shares of Drive Shack by 20.9% during the 2nd quarter. Boston Partners now owns 1,007,793 shares of the real estate investment trust’s stock worth $3,175,000 after buying an additional 174,199 shares in the last quarter. Finally, Broad Run Investment Management LLC raised its holdings in shares of Drive Shack by 42.1% during the 2nd quarter. Broad Run Investment Management LLC now owns 2,900,050 shares of the real estate investment trust’s stock worth $9,135,000 after buying an additional 858,570 shares in the last quarter. 42.91% of the stock is owned by institutional investors.
Separately, Zacks Investment Research raised Drive Shack from a “hold” rating to a “strong-buy” rating and set a $4.50 price target for the company in a report on Monday, November 6th.
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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