Douglas Elliman (NYSE:DOUG) Issues Quarterly Earnings Results, Misses Estimates By $0.09 EPS

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) posted its earnings results on Thursday. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.09), Zacks reports. The firm had revenue of $271.37 million for the quarter, compared to analyst estimates of $333.91 million. Douglas Elliman had a negative return on equity of 6.81% and a negative net margin of 5.98%.

Douglas Elliman Price Performance

Shares of NYSE DOUG traded up $0.03 during midday trading on Wednesday, hitting $2.31. 555,529 shares of the company's stock were exchanged, compared to its average volume of 782,662. The business's fifty day moving average price is $2.59 and its two-hundred day moving average price is $2.11. The company has a market cap of $204.55 million, a price-to-earnings ratio of -3.11 and a beta of 1.78. Douglas Elliman has a 12-month low of $1.35 and a 12-month high of $3.20. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.20.

Insider Activity

In related news, Director Patrick J. Bartels, Jr. bought 58,104 shares of the company's stock in a transaction on Monday, May 12th. The shares were acquired at an average cost of $1.92 per share, with a total value of $111,559.68. Following the completion of the acquisition, the director owned 193,975 shares of the company's stock, valued at $372,432. The trade was a 42.76% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.79% of the company's stock.

Institutional Trading of Douglas Elliman

A hedge fund recently raised its stake in Douglas Elliman stock. Jane Street Group LLC increased its holdings in shares of Douglas Elliman Inc. (NYSE:DOUG - Free Report) by 26.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 529,833 shares of the company's stock after acquiring an additional 110,905 shares during the period. Jane Street Group LLC owned about 0.60% of Douglas Elliman worth $911,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 59.56% of the company's stock.

Analyst Ratings Changes

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

Douglas Elliman Company Profile

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.