Drive Shack (NYSE:DS) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of Drive Shack (NYSE:DS) from a hold rating to a buy rating in a report released on Tuesday morning, ValuEngine reports.

Separately, Zacks Investment Research cut Drive Shack from a hold rating to a sell rating in a research note on Monday, August 26th.

Drive Shack stock traded down $0.10 during mid-day trading on Tuesday, reaching $4.17. The stock had a trading volume of 262,291 shares, compared to its average volume of 237,788. The company has a debt-to-equity ratio of 7.59, a quick ratio of 1.22 and a current ratio of 1.22. Drive Shack has a fifty-two week low of $3.55 and a fifty-two week high of $6.62. The stock’s 50-day simple moving average is $4.54 and its 200-day simple moving average is $4.78. The firm has a market capitalization of $286.22 million, a PE ratio of -9.70 and a beta of 1.33.

Drive Shack (NYSE:DS) last announced its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.15). Drive Shack had a negative net margin of 15.99% and a negative return on equity of 62.92%. The firm had revenue of $71.62 million during the quarter, compared to analyst estimates of $56.40 million. On average, research analysts forecast that Drive Shack will post -0.5 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Drive Shack by 18.5% in the second quarter. BlackRock Inc. now owns 3,830,501 shares of the real estate investment trust’s stock valued at $17,967,000 after purchasing an additional 598,603 shares in the last quarter. American Assets Capital Advisers LLC lifted its holdings in shares of Drive Shack by 4.7% in the second quarter. American Assets Capital Advisers LLC now owns 5,228,512 shares of the real estate investment trust’s stock valued at $23,853,000 after purchasing an additional 233,788 shares in the last quarter. Eaton Vance Management bought a new position in shares of Drive Shack in the second quarter valued at approximately $392,000. Vanguard Group Inc. lifted its holdings in shares of Drive Shack by 1.7% in the second 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. Finally, Punch & Associates Investment Management Inc. lifted its holdings in shares of Drive Shack by 1.1% in 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 purchasing an additional 32,071 shares in the last quarter. 58.78% of the stock is 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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