Drive Shack (NYSE:DS) Shares Down 5.5%

Drive Shack Inc (NYSE:DS) traded down 5.5% during mid-day trading on Tuesday . The stock traded as low as $3.10 and last traded at $3.12, 683,560 shares traded hands during trading. An increase of 77% from the average session volume of 386,775 shares. The stock had previously closed at $3.30.

Separately, ValuEngine upgraded Drive Shack from a “hold” rating to a “buy” rating in a report on Friday, January 3rd.

The firm has a market capitalization of $221.29 million, a P/E ratio of -4.33 and a beta of 1.48. The stock’s fifty day simple moving average is $3.75 and its 200 day simple moving average is $4.08. The company has a debt-to-equity ratio of 11.93, a current ratio of 1.61 and a quick ratio of 1.61.

A number of institutional investors and hedge funds have recently made changes to their positions in DS. Janney Montgomery Scott LLC increased its position in shares of Drive Shack by 32.7% during the third quarter. Janney Montgomery Scott LLC now owns 421,361 shares of the real estate investment trust’s stock worth $1,816,000 after purchasing an additional 103,715 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Drive Shack during the 4th quarter valued at $231,000. Spark Investment Management LLC acquired a new stake in shares of Drive Shack in the 4th quarter worth $148,000. Captrust Financial Advisors acquired a new stake in shares of Drive Shack in the 4th quarter worth $135,000. Finally, Barclays PLC boosted its position in shares of Drive Shack by 99.8% in the 4th quarter. Barclays PLC now owns 60,451 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 30,191 shares in the last quarter. Institutional investors own 64.75% 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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