Wesley R. Edens Acquires 482,697 Shares of Drive Shack Inc. (DS) Stock
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.
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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.
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