Drive Shack Inc (NYSE:DS) was the recipient of a large growth in short interest in 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 daily trading volume, of 331,500 shares, the short-interest ratio is currently 20.7 days. Currently, 11.6% of the shares of the stock are sold short.
Shares of NYSE:DS traded down $0.02 during midday trading on Friday, reaching $3.48. 249,200 shares of the company’s stock traded hands, compared to its average volume of 399,919. Drive Shack has a 1 year low of $3.26 and a 1 year high of $5.62. The company has a market cap of $234.70 million, a P/E ratio of -4.83 and a beta of 1.48. The company has a debt-to-equity ratio of 11.93, a quick ratio of 1.61 and a current ratio of 1.61. The company has a fifty day simple moving average of $3.80 and a two-hundred day simple moving average of $4.16.
Drive Shack (NYSE:DS) last announced its earnings results on Monday, November 11th. The real estate investment trust reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). Drive Shack had a negative net margin of 15.99% and a negative return on equity of 87.07%. The business had revenue of $74.68 million for the quarter, compared to analysts’ expectations of $59.05 million. As a group, research analysts forecast that Drive Shack will post -0.5 EPS for the current fiscal year.
In other Drive Shack news, Director Research Corp Acacia bought 300,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $4.18 per share, for a total transaction of $1,254,000.00. Following the transaction, the director now directly owns 91,600 shares of the company’s stock, valued at approximately $382,888. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 10.20% of the company’s stock.
Several large investors have recently made changes to their positions in the company. State Street Corp lifted its holdings in Drive Shack by 0.8% in the 3rd quarter. State Street Corp now owns 1,053,605 shares of the real estate investment trust’s stock valued at $4,541,000 after purchasing an additional 7,927 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in Drive Shack in the 3rd quarter valued at $576,000. Janney Montgomery Scott LLC lifted its holdings in Drive Shack by 32.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 421,361 shares of the real estate investment trust’s stock valued at $1,816,000 after purchasing an additional 103,715 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Drive Shack by 5.7% in the 3rd quarter. California Public Employees Retirement System now owns 93,799 shares of the real estate investment trust’s stock valued at $404,000 after purchasing an additional 5,100 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Drive Shack by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,000,037 shares of the real estate investment trust’s stock valued at $14,070,000 after purchasing an additional 50,615 shares in the last quarter. Hedge funds and other institutional investors own 61.28% of the company’s stock.
A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Drive Shack from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 22nd. ValuEngine upgraded Drive Shack from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd.
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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