Drive Shack (NYSE:DS) Rating Lowered to Hold at ValuEngine

Drive Shack (NYSE:DS) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.

Separately, Zacks Investment Research lowered Drive Shack from a “buy” rating to a “hold” rating in a report on Monday, May 20th.

DS traded down $0.10 during midday trading on Thursday, reaching $5.04. 205,149 shares of the company were exchanged, compared to its average volume of 186,086. The company has a debt-to-equity ratio of 5.39, a quick ratio of 2.94 and a current ratio of 2.94. The stock has a fifty day moving average of $4.81. The company has a market cap of $349.88 million, a P/E ratio of -11.72 and a beta of 1.31. Drive Shack has a one year low of $3.55 and a one year high of $6.62.

Drive Shack (NYSE:DS) last issued its quarterly earnings data on Friday, May 10th. The real estate investment trust reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The company had revenue of $53.95 million for the quarter, compared to the consensus estimate of $55.13 million. Drive Shack had a negative return on equity of 39.60% and a negative net margin of 12.26%. On average, sell-side analysts forecast that Drive Shack will post -0.28 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in DS. Janney Montgomery Scott LLC grew its holdings in Drive Shack by 10.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 317,646 shares of the real estate investment trust’s stock valued at $1,490,000 after purchasing an additional 30,838 shares during the last quarter. American Assets Capital Advisers LLC grew its holdings in Drive Shack by 4.7% during the 2nd 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 during the last quarter. WINTON GROUP Ltd grew its holdings in Drive Shack by 9.8% during the 2nd quarter. WINTON GROUP Ltd now owns 35,727 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 3,179 shares during the last quarter. Punch & Associates Investment Management Inc. grew its holdings in Drive Shack by 1.1% during the 1st 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 during the last quarter. Finally, SG Americas Securities LLC bought a new position in Drive Shack during the 1st quarter valued at about $50,000. 57.77% of the stock is owned by 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.

See Also: Why do analysts give a neutral rating?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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