Drive Shack Inc. (NYSE:DS – Get Rating) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.41 and traded as high as $1.42. Drive Shack shares last traded at $1.40, with a volume of 43,484 shares changing hands.
Separately, StockNews.com initiated coverage on Drive Shack in a research note on Thursday, March 31st. They set a “sell” rating for the company.
The firm has a market capitalization of $129.34 million, a PE ratio of -2.92 and a beta of 1.36. The business has a 50 day moving average price of $1.42 and a 200-day moving average price of $1.41.
In other news, Director Wesley R. Edens purchased 494,203 shares of the stock in a transaction that occurred on Wednesday, May 11th. The shares were acquired at an average price of $1.09 per share, for a total transaction of $538,681.27. Following the acquisition, the director now directly owns 3,996,571 shares in the company, valued at approximately $4,356,262.39. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Wesley R. Edens purchased 697,726 shares of the stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average price of $1.41 per share, for a total transaction of $983,793.66. Following the acquisition, the director now owns 5,200,094 shares in the company, valued at $7,332,132.54. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,508,703 shares of company stock worth $2,052,358. Insiders own 8.50% of the company’s stock.
A number of large investors have recently made changes to their positions in DS. ProShare Advisors LLC grew its holdings in Drive Shack by 70.5% during the 4th quarter. ProShare Advisors LLC now owns 18,050 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 7,463 shares during the last quarter. Citigroup Inc. grew its holdings in Drive Shack by 143.5% during the 3rd quarter. Citigroup Inc. now owns 9,575 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 5,643 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Drive Shack during the 4th quarter valued at $28,000. LPL Financial LLC acquired a new stake in Drive Shack during the 3rd quarter valued at $44,000. Finally, Steward Financial Group LLC acquired a new stake in Drive Shack during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 44.15% of the company’s stock.
Drive Shack Company Profile (NYSE:DS)
Drive Shack Inc owns and operates golf-related leisure and entertainment venues. It operates through three segments: Entertainment Golf Venues, Traditional Golf Properties, and Corporate. The Entertainment Golf Venues segment operates golf-related leisure and entertainment venues with gaming and golf technology, a chef-inspired menu, craft cocktails, and social events, as well as operates Puttery, an indoor socializing and entertainment platform.
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