Drive Shack (NYSE:DS) Share Price Passes Above Two Hundred Day Moving Average of $0.00

Shares of Drive Shack Inc (NYSE:DS) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as high as $4.98. Drive Shack shares last traded at $4.86, with a volume of 9,705 shares traded.

A number of research firms have weighed in on DS. ValuEngine lowered Drive Shack from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered Drive Shack from a “buy” rating to a “hold” rating in a research note on Monday, May 20th.

The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 7.59. The business has a 50 day simple moving average of $4.87 and a two-hundred day simple moving average of $4.78. The firm has a market cap of $334.67 million, a PE ratio of -11.67 and a beta of 1.31.

Drive Shack (NYSE:DS) last released its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.15). The business had revenue of $71.62 million during the quarter, compared to analysts’ expectations of $56.40 million. Drive Shack had a negative return on equity of 62.92% and a negative net margin of 15.99%. Equities analysts forecast that Drive Shack Inc will post -0.28 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Drive Shack by 2.6% in the fourth quarter. BlackRock Inc. now owns 3,409,679 shares of the real estate investment trust’s stock valued at $13,365,000 after purchasing an additional 87,769 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Drive Shack by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,094,754 shares of the real estate investment trust’s stock valued at $8,212,000 after purchasing an additional 22,896 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Drive Shack by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 600,991 shares of the real estate investment trust’s stock valued at $2,355,000 after purchasing an additional 36,136 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Drive Shack by 261.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,939 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 12,254 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Drive Shack by 29.6% in the fourth quarter. FMR LLC now owns 10,054,065 shares of the real estate investment trust’s stock valued at $39,412,000 after purchasing an additional 2,296,773 shares during the last quarter. Hedge funds and other institutional investors own 57.83% of the company’s stock.

About Drive Shack (NYSE:DS)

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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