Drive Shack Inc. (NYSE:DS) Director Wesley R. Edens acquired 482,697 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were purchased at an average cost of $6.00 per share, for a total transaction of $2,896,182.00. Following the acquisition, the director now owns 2,737,094 shares of the company’s stock, valued at approximately $16,422,564. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of Drive Shack Inc. (NYSE:DS) traded up $0.42 on Wednesday, hitting $6.17. 2,024,800 shares of the stock were exchanged, compared to its average volume of 565,265. The stock has a market cap of $385.04, a PE ratio of 17.42 and a beta of 1.35. 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 Inc. has a fifty-two week low of $2.41 and a fifty-two week high of $6.18.

Drive Shack (NYSE:DS) last issued its quarterly earnings data 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 negative net margin of 12.99% and a positive return on equity of 17.68%. The firm had revenue of $81.70 million for the quarter, compared to analyst estimates of $81.50 million. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. equities analysts expect that Drive Shack Inc. will post -0.41 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Wesley R. Edens Acquires 482,697 Shares of Drive Shack Inc. (DS) Stock” was first posted by American Banking News and is owned by of American Banking News. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international copyright laws. The original version of this article can be viewed at

Several large investors have recently modified their holdings of the company. New York State Common Retirement Fund bought a new stake in shares of Drive Shack during the 2nd quarter worth $132,000. Mackenzie Financial Corp increased its position in shares of Drive Shack by 68.6% during the 3rd quarter. Mackenzie Financial Corp now owns 38,060 shares of the real estate investment trust’s stock worth $137,000 after purchasing an additional 15,488 shares in the last quarter. Northeast Investment Management increased its position in 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 valued at $146,000 after acquiring an additional 28,170 shares in the last quarter. Nationwide Fund Advisors grew its position in shares of 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 buying an additional 23,224 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake 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 acquiring an additional 57,044 shares during the last quarter. 43.88% of the stock is owned by institutional investors.

Separately, Zacks Investment Research upgraded shares of Drive Shack from a “hold” rating to a “strong-buy” rating and set a $4.50 target price for the company in a research note 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.

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

Receive News & Ratings for Drive Shack Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Drive Shack Inc. and related companies with's FREE daily email newsletter.