Rhumbline Advisers Sells 2,097 Shares of Drive Shack Inc (NYSE:DS)

Share on StockTwits

Rhumbline Advisers lowered its holdings in Drive Shack Inc (NYSE:DS) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,936 shares of the real estate investment trust’s stock after selling 2,097 shares during the period. Rhumbline Advisers owned approximately 0.12% of Drive Shack worth $350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Levin Capital Strategies L.P. bought a new stake in shares of Drive Shack during the 4th quarter worth approximately $59,000. Vanguard Group Inc. increased its position in Drive Shack by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,701,315 shares of the real estate investment trust’s stock worth $16,100,000 after purchasing an additional 23,876 shares in the last quarter. FMR LLC increased its position in Drive Shack by 29.6% during the 4th quarter. FMR LLC now owns 10,054,065 shares of the real estate investment trust’s stock worth $39,412,000 after purchasing an additional 2,296,773 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Drive Shack by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,094,754 shares of the real estate investment trust’s stock worth $8,212,000 after purchasing an additional 22,896 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Drive Shack by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 600,991 shares of the real estate investment trust’s stock worth $2,355,000 after purchasing an additional 36,136 shares in the last quarter. 57.42% of the stock is owned by hedge funds and other institutional investors.

DS stock opened at $4.68 on Thursday. The company has a market cap of $308.33 million, a P/E ratio of -10.88 and a beta of 1.35. Drive Shack Inc has a 1 year low of $3.55 and a 1 year high of $8.06. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 5.39.

Drive Shack (NYSE:DS) last released its quarterly earnings data on Friday, May 10th. The real estate investment trust reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.02). Drive Shack had a negative return on equity of 39.60% and a negative net margin of 12.26%. The company had revenue of $53.95 million for the quarter, compared to analyst estimates of $55.13 million. As a group, research analysts expect that Drive Shack Inc will post -0.28 earnings per share for the current fiscal year.

DS has been the subject of a number of research analyst reports. Imperial Capital upgraded shares of Drive Shack from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $5.00 to $7.00 in a research report on Monday, March 18th. ValuEngine cut shares of Drive Shack from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Finally, Zacks Investment Research upgraded shares of Drive Shack from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a research report on Wednesday, March 20th.

TRADEMARK VIOLATION NOTICE: “Rhumbline Advisers Sells 2,097 Shares of Drive Shack Inc (NYSE:DS)” was reported by Macon Daily and is the property of of Macon Daily. If you are accessing this article on another domain, it was stolen and republished in violation of United States & international copyright & trademark legislation. The legal version of this article can be read at https://macondaily.com/2019/06/13/rhumbline-advisers-sells-2097-shares-of-drive-shack-inc-nyseds.html.

Drive Shack Company Profile

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.

Read More: What is a Market Correction?

Institutional Ownership by Quarter for Drive Shack (NYSE:DS)

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.