In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Drive Shack Inc. (NYSE:DS) reported that Edens Wesley R has picked up 4,692,612 of common stock as of 2017-03-09.
The acquisition brings the aggregate amount owned by Edens Wesley R to a total of 4,692,612 representing a 7.0% stake in the company.
For those not familiar with the company, Drive Shack Inc., formerly Newcastle Investment Corp., is a leisure company. The Company previously operated as a real estate investment trust (REIT). The Company is an owner and operator of golf-related leisure and entertainment businesses. The Company’s portfolio consists of Drive Shack, which is engaged in developing nationwide network of golf entertainment venues; American Golf Corporation, which is a golf course company, and real estate-related assets. American Golf Corporation operates approximately 90 private, resort and public golf courses throughout the United States. It has a range of public and private golf courses in California, New York, and Georgia. It operates multiple facilities that provide golf, tennis, swimming and spa facilities, among others. Its online Pro Shop offers a range of golf gifts, such as personalized golf balls, golf luggage and accessories. Its public golf courses equipped with practice areas, golf shops, driving ranges, and food and beverage options.
A glance at Drive Shack Inc. (NYSE:DS)’s key stats reveals a current market capitalization of 274.79 million based on 66.84 Million shares outstanding and a price at last close of $4.15 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-06, Edens picked up 67,829 at a purchase price of $4.19. This brings their total holding to 3,142,000 as of the date of the filing.
On the sell side, the most recent transaction saw Riis unload 37,556 shares at a sale price of $4.64. This brings their total holding to 156,263.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Drive Shack Inc. (NYSE:DS) as things move forward to see if its progress aligns with these transactions.
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