Insider Buying: Drive Shack Inc. (NYSE:DS) Director Purchases 494,203 Shares of Stock

Drive Shack Inc. (NYSE:DSGet Rating) Director Wesley R. Edens bought 494,203 shares of the stock in a transaction dated Wednesday, May 11th. The stock was purchased at an average price of $1.09 per share, with a total value of $538,681.27. Following the purchase, the director now owns 3,996,571 shares in the company, valued at $4,356,262.39. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

DS opened at $1.51 on Friday. The business has a 50 day moving average of $1.32 and a 200-day moving average of $1.55. Drive Shack Inc. has a 52 week low of $1.01 and a 52 week high of $4.02.

Drive Shack (NYSE:DSGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The real estate investment trust reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09).

Separately, StockNews.com started coverage on Drive Shack in a research note on Thursday, March 31st. They issued a “sell” rating for the company.

A number of large investors have recently made changes to their positions in the business. American Assets Capital Advisers LLC raised its stake in Drive Shack by 87.9% during the first quarter. American Assets Capital Advisers LLC now owns 6,722,488 shares of the real estate investment trust’s stock valued at $10,353,000 after buying an additional 3,144,487 shares during the last quarter. BlackRock Inc. raised its stake in Drive Shack by 0.4% during the fourth quarter. BlackRock Inc. now owns 5,704,921 shares of the real estate investment trust’s stock valued at $8,158,000 after buying an additional 23,236 shares during the last quarter. Schroder Investment Management Group raised its stake in Drive Shack by 5.3% during the third quarter. Schroder Investment Management Group now owns 4,877,093 shares of the real estate investment trust’s stock valued at $13,705,000 after buying an additional 247,169 shares during the last quarter. Vanguard Group Inc. raised its stake in Drive Shack by 6.5% during the first quarter. Vanguard Group Inc. now owns 4,363,640 shares of the real estate investment trust’s stock valued at $6,720,000 after buying an additional 266,516 shares during the last quarter. Finally, Lansing Management LP raised its stake in Drive Shack by 35.6% during the third quarter. Lansing Management LP now owns 2,672,938 shares of the real estate investment trust’s stock valued at $7,511,000 after buying an additional 702,225 shares during the last quarter. Institutional investors and hedge funds own 44.15% of the company’s stock.

About Drive Shack (Get Rating)

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.

Recommended Stories

Receive News & Ratings for Drive Shack Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Drive Shack and related companies with MarketBeat.com's FREE daily email newsletter.