Douglas Elliman Inc. (NYSE:DOUG) Sees Significant Decrease in Short Interest

Key Points

• Douglas Elliman Inc. experienced a 28.9% decrease in short interest, with short shares dropping from 2,530,000 to 1,800,000 as of September 30.
• Equities research analysts have notably downgraded the stock, with Wall Street Zen lowering its rating from "hold" to "sell" and Weiss Ratings reaffirming a "sell (d-)" rating.
• Institutional investors now own 59.56% of Douglas Elliman's stock, indicating significant interest from large investment firms.

Douglas Elliman Inc. (NYSE:DOUG - Get Free Report) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 1,800,000 shares, a decrease of 28.9% from the September 15th total of 2,530,000 shares. Currently, 2.5% of the company's shares are sold short. Based on an average trading volume of 561,800 shares, the days-to-cover ratio is currently 3.2 days. Based on an average trading volume of 561,800 shares, the days-to-cover ratio is currently 3.2 days. Currently, 2.5% of the company's shares are sold short.

Analysts Set New Price Targets

Several equities research analysts have commented on DOUG shares. Wall Street Zen lowered Douglas Elliman from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Douglas Elliman in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of "Sell".

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its holdings in shares of Douglas Elliman by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 30,000 shares of the company's stock worth $52,000 after purchasing an additional 15,000 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new stake in Douglas Elliman in the 1st quarter valued at approximately $328,000. Jefferies Financial Group Inc. increased its position in shares of Douglas Elliman by 5.3% during the 1st quarter. Jefferies Financial Group Inc. now owns 127,497 shares of the company's stock valued at $219,000 after purchasing an additional 6,397 shares during the period. Truffle Hound Capital LLC increased its position in shares of Douglas Elliman by 15.0% during the 1st quarter. Truffle Hound Capital LLC now owns 2,300,000 shares of the company's stock valued at $3,956,000 after purchasing an additional 300,000 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Douglas Elliman by 7.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 614,565 shares of the company's stock valued at $1,057,000 after purchasing an additional 45,218 shares during the period. Institutional investors own 59.56% of the company's stock.

Douglas Elliman Trading Down 1.0%

Shares of DOUG opened at $2.52 on Thursday. The company has a market capitalization of $223.10 million, a P/E ratio of -3.40 and a beta of 1.78. Douglas Elliman has a one year low of $1.42 and a one year high of $3.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.61 and a current ratio of 3.61. The stock has a 50-day moving average price of $2.72 and a 200 day moving average price of $2.43.

Douglas Elliman (NYSE:DOUG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 31st. The company reported $0.18 EPS for the quarter. Douglas Elliman had a negative return on equity of 7.11% and a negative net margin of 5.98%.The firm had revenue of $272.78 million during the quarter.

About Douglas Elliman

Douglas Elliman Inc owns Douglas Elliman Realty, LLC, operating as a residential brokerage company in the United States with operations in New York, Florida, California, Texas, Colorado, Nevada, Massachusetts, Connecticut, Maryland, Virginia and Washington, DC In addition, Douglas Elliman sources, uses and invests in early-stage, disruptive property technology (“PropTech”) solutions and companies and provides other real estate services, including development marketing, property management and settlement and escrow services in select markets.

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