Drive Shack Target of Unusually Large Options Trading (DS)
Drive Shack Inc. (NYSE:DS) saw unusually large options trading on Thursday. Stock investors acquired 925 call options on the stock. This is an increase of Infinity compared to the average volume of 0 call options.
Drive Shack (NYSE DS) opened at $5.14 on Friday. The company has a market capitalization of $334.82, a P/E ratio of 12.45 and a beta of 1.20. Drive Shack has a 52 week low of $2.41 and a 52 week high of $5.19. The company has a debt-to-equity ratio of 1.25, a quick ratio of 5.85 and a current ratio of 5.85.
Drive Shack (NYSE:DS) last announced its quarterly earnings results 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. The firm had revenue of $81.70 million during the quarter, compared to analyst estimates 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 was down 1.8% compared to the same quarter last year. sell-side analysts forecast that Drive Shack will post -0.41 EPS for the current year.
In other Drive Shack news, Director Alan L. Tyson bought 32,240 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were purchased at an average price of $4.00 per share, with a total value of $128,960.00. Following the completion of the purchase, the director now owns 270,404 shares in the company, valued at approximately $1,081,616. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Wesley R. Edens bought 398,895 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were acquired at an average cost of $3.97 per share, for a total transaction of $1,583,613.15. Following the purchase, the director now owns 1,611,510 shares of the company’s stock, valued at approximately $6,397,694.70. The disclosure for this purchase can be found here. Insiders have acquired 1,030,212 shares of company stock worth $4,150,337 over the last three months. 7.20% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. American Assets Capital Advisers boosted its holdings in shares of Drive Shack by 38.3% in the third quarter. American Assets Capital Advisers now owns 3,080,831 shares of the real estate investment trust’s stock valued at $11,122,000 after purchasing an additional 852,819 shares during the period. Broad Run Investment Management LLC boosted its holdings in shares of Drive Shack by 42.1% in the second quarter. Broad Run Investment Management LLC now owns 2,900,050 shares of the real estate investment trust’s stock valued at $9,135,000 after purchasing an additional 858,570 shares during the period. Punch & Associates Investment Management Inc. boosted its holdings in shares of Drive Shack by 2.2% in the second quarter. Punch & Associates Investment Management Inc. now owns 2,466,122 shares of the real estate investment trust’s stock valued at $7,768,000 after purchasing an additional 53,175 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Drive Shack by 54.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,322,922 shares of the real estate investment trust’s stock valued at $4,776,000 after purchasing an additional 465,043 shares during the period. Finally, Boston Partners boosted its holdings in shares of Drive Shack by 18.2% in the third quarter. Boston Partners now owns 1,190,934 shares of the real estate investment trust’s stock valued at $4,299,000 after purchasing an additional 183,141 shares during the period. Hedge funds and other institutional investors own 42.76% of the company’s stock.
Separately, Zacks Investment Research cut Drive Shack from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th.
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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.
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