Drive Shack Inc. (DS) Director Purchases $2,896,182.00 in Stock
Drive Shack Inc. (NYSE:DS) Director Wesley R. Edens purchased 482,697 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were acquired at an average price of $6.00 per share, with a total value of $2,896,182.00. Following the purchase, the director now owns 2,737,094 shares of the company’s stock, valued at $16,422,564. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Drive Shack Inc. (NYSE:DS) opened at $5.94 on Friday. The company has a market cap of $394.42, a PE ratio of 17.85 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 one year low of $2.41 and a one year high of $6.20.
Drive Shack (NYSE:DS) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating 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 company had revenue of $81.70 million during the quarter, compared to analysts’ expectations of $81.50 million. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. equities analysts expect that Drive Shack Inc. will post -0.41 EPS for the current year.
Separately, Zacks Investment Research upgraded shares of Drive Shack from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a research note on Tuesday, October 17th.
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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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