Insider Buying: Drive Shack Inc (NYSE:DS) Director Acquires $24,350.00 in Stock

Drive Shack Inc (NYSE:DS) Director Virgis Colbert acquired 5,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were acquired at an average price of $4.87 per share, with a total value of $24,350.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $24,350. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of DS opened at $4.83 on Friday. Drive Shack Inc has a 12 month low of $3.55 and a 12 month high of $7.49. The firm’s fifty day simple moving average is $4.69. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 5.39.

Drive Shack (NYSE:DS) last issued its quarterly earnings data on Friday, May 10th. The real estate investment trust reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). Drive Shack had a negative net margin of 12.26% and a negative return on equity of 39.60%. The business had revenue of $53.95 million for the quarter, compared to analysts’ expectations of $55.13 million. Analysts forecast that Drive Shack Inc will post -0.28 earnings per share for the current year.

Several analysts have recently commented on DS shares. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Imperial Capital decreased their price objective on Mammoth Energy Services from $30.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Finally, Zacks Investment Research lowered GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd lifted its stake in shares of Drive Shack by 9.8% during the second quarter. WINTON GROUP Ltd now owns 35,727 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 3,179 shares during the period. Punch & Associates Investment Management Inc. lifted its stake in shares of Drive Shack by 1.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 2,922,614 shares of the real estate investment trust’s stock valued at $13,123,000 after buying an additional 32,071 shares during the period. American Assets Capital Advisers LLC lifted its stake in shares of Drive Shack by 15.8% during the first quarter. American Assets Capital Advisers LLC now owns 4,994,724 shares of the real estate investment trust’s stock valued at $22,427,000 after buying an additional 680,724 shares during the period. SG Americas Securities LLC purchased a new position in Drive Shack during the first quarter worth approximately $50,000. Finally, Deutsche Bank AG raised its stake in Drive Shack by 40.1% during the fourth quarter. Deutsche Bank AG now owns 185,498 shares of the real estate investment trust’s stock worth $725,000 after purchasing an additional 53,060 shares during the period. 57.42% of the stock is currently owned by hedge funds and other institutional investors.

About Drive Shack

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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