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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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)

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