Drive Shack Inc (NYSE:DS) Short Interest Up 8.2% in January

Drive Shack Inc (NYSE:DS) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 6,870,000 shares, a growth of 8.2% from the January 15th total of 6,350,000 shares. Based on an average trading volume of 331,500 shares, the short-interest ratio is presently 20.7 days. Currently, 11.6% of the company’s shares are short sold.

In other news, Director Research Corp Acacia acquired 300,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $4.18 per share, for a total transaction of $1,254,000.00. Following the completion of the transaction, the director now directly owns 91,600 shares of the company’s stock, valued at approximately $382,888. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 10.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its stake in Drive Shack by 37.0% in the fourth quarter. Bank of Montreal Can now owns 11,486 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 3,102 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Drive Shack by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 370,404 shares of the real estate investment trust’s stock worth $1,356,000 after acquiring an additional 4,199 shares during the period. California Public Employees Retirement System lifted its position in shares of Drive Shack by 5.7% during the third quarter. California Public Employees Retirement System now owns 93,799 shares of the real estate investment trust’s stock valued at $404,000 after buying an additional 5,100 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Drive Shack by 2.9% during the fourth quarter. Bank of New York Mellon Corp now owns 203,324 shares of the real estate investment trust’s stock valued at $745,000 after buying an additional 5,758 shares during the last quarter. Finally, Citigroup Inc. lifted its position in shares of Drive Shack by 32.1% during the fourth quarter. Citigroup Inc. now owns 32,124 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 7,804 shares during the last quarter. 61.28% of the stock is owned by institutional investors.

DS has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Drive Shack from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 22nd. ValuEngine upgraded shares of Drive Shack from a “hold” rating to a “buy” rating in a report on Friday, January 3rd.

Shares of NYSE DS traded down $0.02 during mid-day trading on Friday, reaching $3.48. The company had a trading volume of 249,200 shares, compared to its average volume of 399,919. The business’s 50-day moving average is $3.80 and its 200-day moving average is $4.16. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 11.93. The stock has a market cap of $234.70 million, a price-to-earnings ratio of -4.83 and a beta of 1.48. Drive Shack has a 52 week low of $3.26 and a 52 week high of $5.62.

Drive Shack (NYSE:DS) last posted its quarterly earnings results on Monday, November 11th. The real estate investment trust reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.06). Drive Shack had a negative return on equity of 87.07% and a negative net margin of 15.99%. The company had revenue of $74.68 million during the quarter, compared to the consensus estimate of $59.05 million. As a group, equities research analysts forecast that Drive Shack will post -0.5 earnings per share for the current year.

Drive Shack Company Profile

Drive Shack Inc owns and operates golf-related leisure and entertainment businesses. Its Entertainment Golf Venues segment operates an entertainment golf venue in Orlando, Florida. This segment also focuses on opening a chain of dining and entertainment golf venues in the United States and internationally, which combine golf, competition, dining, and fun.

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