Douglas Elliman (NYSE:DOUG) Announces Quarterly Earnings Results

Key Points

• Douglas Elliman reported (-$0.06) earnings per share for the quarter, missing the estimate of $0.03 by ($0.09), with a revenue of $271.37 million compared to expectations of $333.91 million.
• Shares traded down to $2.14, with a market capitalization of $189.90 million and a negative return on equity of 6.81%.
• Goldman Sachs Group Inc. increased its stake in Douglas Elliman by 31.1%, owning 0.53% of the company after acquiring additional shares.

Douglas Elliman (NYSE:DOUG - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.09), Zacks reports. Douglas Elliman had a negative net margin of 5.98% and a negative return on equity of 6.81%. The company had revenue of $271.37 million for the quarter, compared to the consensus estimate of $333.91 million.

Douglas Elliman Stock Performance

Shares of NYSE DOUG traded down $0.61 during mid-day trading on Friday, reaching $2.14. 2,499,839 shares of the company's stock were exchanged, compared to its average volume of 522,498. The firm has a market capitalization of $189.90 million, a price-to-earnings ratio of -2.89 and a beta of 1.78. Douglas Elliman has a 52 week low of $1.35 and a 52 week high of $3.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.78 and a quick ratio of 3.78. The firm has a 50-day moving average price of $2.62 and a two-hundred day moving average price of $2.10.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Douglas Elliman from a "hold" rating to a "sell" rating in a research note on Saturday.

Insider Activity at Douglas Elliman

In other Douglas Elliman news, Director Patrick J. Bartels, Jr. bought 58,104 shares of the stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $1.92 per share, for a total transaction of $111,559.68. Following the purchase, the director directly owned 193,975 shares of the company's stock, valued at approximately $372,432. This trade represents a 42.76% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Douglas Elliman

A hedge fund recently raised its stake in Douglas Elliman stock. Goldman Sachs Group Inc. boosted its position in Douglas Elliman Inc. (NYSE:DOUG - Free Report) by 31.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 474,407 shares of the company's stock after acquiring an additional 112,511 shares during the period. Goldman Sachs Group Inc. owned 0.53% of Douglas Elliman worth $816,000 as of its most recent SEC filing. 59.56% of the stock is currently owned by institutional investors.

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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