Goldman Sachs Group Inc. Purchases 112,511 Shares of Douglas Elliman Inc. $DOUG

Key Points

• Goldman Sachs Group Inc. increased its stake in Douglas Elliman Inc. by 31.1%, acquiring an additional 112,511 shares, bringing its total ownership to approximately 474,407 shares worth $816,000.
• Douglas Elliman reported a loss of $0.06 per share for the last quarter, falling short of analysts' expectations, with revenue of only $271.37 million compared to the projected $333.91 million.
• Wall Street Zen downgraded Douglas Elliman's stock rating from "hold" to "sell", reflecting negative sentiment in the market.

Goldman Sachs Group Inc. raised its position in shares of Douglas Elliman Inc. (NYSE:DOUG - Free Report) by 31.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 approximately 0.53% of Douglas Elliman worth $816,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Man Group plc acquired a new position in Douglas Elliman in the fourth quarter worth about $52,000. Golden State Wealth Management LLC raised its position in Douglas Elliman by 100.0% in the first 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 in the last quarter. State of Wyoming acquired a new position in Douglas Elliman in the fourth quarter worth about $118,000. American Century Companies Inc. raised its position in Douglas Elliman by 34.1% in the first quarter. American Century Companies Inc. now owns 75,905 shares of the company's stock worth $131,000 after purchasing an additional 19,300 shares in the last quarter. Finally, Jefferies Financial Group Inc. raised its position in Douglas Elliman by 112.5% in the fourth quarter. Jefferies Financial Group Inc. now owns 121,100 shares of the company's stock worth $202,000 after purchasing an additional 64,100 shares in the last quarter. 59.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Douglas Elliman from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd.

Douglas Elliman Price Performance

Shares of DOUG stock opened at $2.86 on Wednesday. Douglas Elliman Inc. has a 52-week low of $1.35 and a 52-week high of $3.20. The stock has a market cap of $253.27 million, a PE ratio of -3.86 and a beta of 1.77. 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 firm's 50 day moving average price is $2.63 and its two-hundred day moving average price is $2.29.

Douglas Elliman (NYSE:DOUG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.09). The business had revenue of $271.37 million during the quarter, compared to the consensus estimate of $333.91 million. Douglas Elliman had a negative net margin of 5.98% and a negative return on equity of 7.11%.

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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