Drive Shack Inc. (NYSE:DS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “Drive Shack Inc.is the owner and operator of golf-related leisure and entertainment businesses. The services offered by the company comprise Drive Shack which is engaged in developing innovative golf entertainment venues, American Golf and Real Asset related assets. Drive Shack Inc., formerly known as Newcastle Investment Corp., is based in New York. “

Drive Shack (NYSE:DS) traded down 1.06% on Tuesday, reaching $2.79. 440,498 shares of the company’s stock were exchanged. Drive Shack has a 1-year low of $2.75 and a 1-year high of $4.75. The firm has a 50-day moving average price of $3.06 and a 200-day moving average price of $3.73. The company’s market capitalization is $186.58 million.

Drive Shack (NYSE:DS) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.15. The company had revenue of $81.36 million during the quarter, compared to the consensus estimate of $84.48 million. Drive Shack had a negative net margin of 7.05% and a positive return on equity of 25.92%. Drive Shack’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS. Equities research analysts expect that Drive Shack will post $0.32 earnings per share for the current year.

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In related news, Director Alan L. Tyson purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was acquired at an average price of $3.81 per share, for a total transaction of $381,000.00. Following the acquisition, the director now directly owns 175,069 shares of the company’s stock, valued at approximately $667,012.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in DS. Teza Capital Management LLC bought a new position in shares of Drive Shack during the fourth quarter worth about $139,000. FMR LLC purchased a new stake in Drive Shack during the fourth quarter valued at about $6,675,000. Fortress Investment Group LLC purchased a new stake in Drive Shack during the fourth quarter valued at about $650,000. Renaissance Technologies LLC purchased a new stake in Drive Shack during the fourth quarter valued at about $3,505,000. Finally, Levin Capital Strategies L.P. purchased a new stake in Drive Shack during the fourth quarter valued at about $194,000. Institutional investors and hedge funds own 38.58% of the company’s stock.

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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