Drive Shack (DS) Trading Up 5.8%

Drive Shack Inc (NYSE:DS) was up 5.8% during mid-day trading on Friday . The stock traded as high as $5.83 and last traded at $5.81. Approximately 1,225,467 shares were traded during trading, an increase of 109% from the average daily volume of 586,440 shares. The stock had previously closed at $5.49.

Separately, Zacks Investment Research downgraded shares of Drive Shack from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th.

The company has a quick ratio of 5.85, a current ratio of 5.85 and a debt-to-equity ratio of 1.25. The firm has a market cap of $389.06, a P/E ratio of 17.61 and a beta of 1.48.

Drive Shack (NYSE:DS) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.19. The company had revenue of $81.70 million during the quarter, compared to the consensus estimate of $81.50 million. Drive Shack had a negative net margin of 12.99% and a positive return on equity of 17.68%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. analysts predict that Drive Shack Inc will post -0.41 earnings per share for the current fiscal year.

In other news, Director Alan L. Tyson bought 32,240 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $4.00 per share, for a total transaction of $128,960.00. Following the completion of the purchase, the director now owns 270,404 shares of the company’s stock, valued at $1,081,616. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alan L. Tyson bought 37,760 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was purchased at an average price of $3.76 per share, with a total value of $141,977.60. Following the completion of the purchase, the director now directly owns 228,764 shares of the company’s stock, valued at approximately $860,152.64. The disclosure for this purchase can be found here. Insiders bought 1,512,909 shares of company stock valued at $7,046,519 over the last 90 days. Insiders own 7.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in DS. New York State Common Retirement Fund purchased a new position in shares of Drive Shack in the second quarter valued at $132,000. Mackenzie Financial Corp boosted its stake in 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 valued at $137,000 after acquiring an additional 15,488 shares during the last quarter. Northeast Investment Management boosted its stake in Drive Shack by 155.0% during 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 during the last quarter. Nationwide Fund Advisors boosted its stake in 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 valued at $157,000 after acquiring an additional 23,224 shares during the last quarter. 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 valued at $187,000 after acquiring an additional 57,044 shares during the last quarter. Institutional investors and hedge funds own 43.73% of the company’s stock.

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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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