Drive Shack Inc. (NYSE:DS) Director Wesley R. Edens bought 398,895 shares of the stock in a transaction dated Thursday, November 9th. The stock was purchased at an average cost of $3.97 per share, with a total value of $1,583,613.15. Following the completion of the purchase, the director now directly owns 1,611,510 shares in the company, valued at approximately $6,397,694.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Drive Shack Inc. (DS) opened at $4.07 on Friday. The company has a market capitalization of $271.20, a price-to-earnings ratio of 12.27 and a beta of 1.35. Drive Shack Inc. has a 52 week low of $2.41 and a 52 week high of $4.55. The company has a debt-to-equity ratio of 1.25, a current ratio of 5.85 and a quick ratio of 5.85.

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

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund bought a new position in shares of Drive Shack in the 2nd quarter worth $132,000. Northeast Investment Management boosted its position in shares of 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 worth $146,000 after purchasing an additional 28,170 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Drive Shack by 114.1% in the 3rd quarter. Nationwide Fund Advisors now owns 43,582 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 23,224 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Drive Shack by 2,622.7% in 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 purchasing an additional 57,044 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in shares of Drive Shack in the 2nd quarter worth $207,000. 42.91% of the stock is owned by institutional investors.

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

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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