Goldman Sachs Group Inc. Sells 43,918 Shares of Drive Shack Inc. (DS)
Goldman Sachs Group Inc. trimmed its stake in shares of Drive Shack Inc. (NYSE:DS) by 11.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 338,055 shares of the real estate investment trust’s stock after selling 43,918 shares during the quarter. Goldman Sachs Group Inc. owned 0.51% of Drive Shack worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New York State Common Retirement Fund acquired a new position in shares of Drive Shack in the 2nd quarter worth approximately $132,000. Northeast Investment Management boosted its holdings in shares of Drive Shack by 155.0% in the 2nd quarter. Northeast Investment Management now owns 46,345 shares of the real estate investment trust’s stock worth $146,000 after acquiring an additional 28,170 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of Drive Shack in the 2nd quarter worth approximately $207,000. Bank of Montreal Can boosted its holdings in shares of Drive Shack by 14,209.1% in the 2nd quarter. Bank of Montreal Can now owns 67,682 shares of the real estate investment trust’s stock worth $214,000 after acquiring an additional 67,209 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Drive Shack in the 1st quarter worth approximately $329,000. 42.91% of the stock is currently owned by institutional investors.
Drive Shack Inc. (DS) opened at $3.81 on Monday. The company has a market capitalization of $255.13, a P/E ratio of 11.55 and a beta of 1.35. The company has a quick ratio of 5.85, a current ratio of 5.85 and a debt-to-equity ratio of 1.25. Drive Shack Inc. has a 1-year low of $2.41 and a 1-year high of $4.69.
Drive Shack (NYSE:DS) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.19. The business had revenue of $81.70 million for the quarter, compared to the consensus estimate of $81.50 million. Drive Shack had a positive return on equity of 17.68% and a negative net margin of 12.99%. Drive Shack’s revenue was down 1.8% compared to the same quarter last year. research analysts anticipate that Drive Shack Inc. will post -0.41 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised Drive Shack from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Tuesday, October 24th.
In other Drive Shack news, Director Alan L. Tyson bought 37,760 shares of Drive Shack stock in a transaction dated Friday, November 3rd. The shares were acquired at an average cost of $3.76 per share, with a total value of $141,977.60. Following the acquisition, the director now directly owns 228,764 shares of the company’s stock, valued at $860,152.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.20% of the stock is owned by insiders.
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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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