President KHOURI HANA acquire 14,500 shares of Drive Shack Inc. [DS]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Drive Shack Inc. shares valued at $25,033 were purchased by KHOURI HANA on May 16. At $1.73 per share, KHOURI HANA acquired 14,500 shares. The insider’s holdings grew to 26,745 shares worth approximately $22465.8 following the completion of this transaction.

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Also, EDENS WESLEY R purchased 302,275 shares, netting a total of over 504,799 in proceeds. Following the buying of shares at $1.67 each, the insider now holds 5,847,728 shares.

Before that, EDENS WESLEY R had added 302,274 shares to its account. In a trade valued at $504,798, the Director bought Drive Shack Inc. shares for $1.67 each. Upon closing the transaction, the insider’s holdings increased to 302,274 shares, worth approximately $4.62 million.

As published in their initiating research note from Craig Hallum on March 26, 2021, Drive Shack Inc. [DS] has been a Buy and the price target has been revised to $5. This represents a 83.2% premium over Wednesday’s closing price. Analysts at B. Riley FBR started covering the stock with ‘”a Buy”‘ outlook in a report released in early June. As of April 21, 2020, BTIG Research has initiated its “Buy” rating for DS. Earlier on October 15, 2019, JMP Securities initiated its rating. Their recommendation was “a Mkt outperform” for DS stock.

Analyzing DS’s Price Performance

On Wednesday, Drive Shack Inc. [NYSE: DS] plunged -10.07% to $0.84. The stock’s lowest price that day was $0.763, but it reached a high of $0.9393 in the same session. During the last five days, there has been a drop of approximately -16.93%. Over the course of the year, Drive Shack Inc. shares have dropped approximately -41.33%. Shares of the company reached a 52-week high of $1.9700 on 06/09/22 and a 52-week low of $0.7630 on 09/21/22. A 50-day SMA is recorded $1.2400, while a 200-day SMA reached $1.3676. Nevertheless, trading volume fell to 2.32 million shares from 0.69 million shares the previous day.

Support And Resistance Levels for Drive Shack Inc. (DS)

According to the 24-hour chart, there is a support level at 0.7549, which, if violated, would cause prices to drop to 0.6708. In the upper region, resistance lies at 0.9312. The next price resistance is at 1.0234. RSI (Relative Strength Index) is 23.66 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1216, which suggests the price will decrease in the coming days. Percent R is at 81.33%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Drive Shack Inc. subject to short interest?

Stocks of Drive Shack Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.97 million shares to 4.48 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.45 million shares. A decline of -66.29% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.92 of the overall float, the days-to-cover ratio (short ratio) decline to 3.92.

Which companies own the most shares of Drive Shack Inc. (DS)?

According to American Assets Capital Advisers filings, the company currently owns 9,158,843 shares, which is about 9.91% of the total DS shares outstanding. The investor’s shares have appreciated by 2,436,355 from its previous 13-F filing of 6722488.0 shares. With the completion of the buy transaction, Lansing Management LP’s stake is now worth $4,266,864. The Vanguard Group, Inc. reduced a -16.88% interest valued at $3.82 million while BlackRock Fund Advisors sold a -3,503,150 stake. A total of 1,217,487 shares of Drive Shack Inc. were sold by Millennium Management LLC during the quarter, and 1,272,966 by EAM Investors LLC. In its current portfolio, Broad Run Investment Management L holds 1,223,443 shares valued at $1.32 million.

In terms of Drive Shack Inc. share price expectations, FactSet research, analysts set an average price target of $4.33 in the next 12 months, up nearly 437.63% from the previous closing price of $0.93. Analysts anticipate Drive Shack Inc. stock to reach $5.00 by 2022, with the lowest price target being $3.00. In spite of this, 3 analysts ranked Drive Shack Inc. stock as a Buy at the end of 2022. On March 18, 2019, Imperial Capital assigned a price target of “an Outperform” to the stock and upgraded coverage with a $7.


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