Wall Street Zen Downgrades Douglas Elliman (NYSE:DOUG) to Sell

Key Points

• Wall Street Zen has downgraded Douglas Elliman (NYSE:DOUG) from a "hold" to a "sell" rating in a recent research report.
• Douglas Elliman's stock price dropped 22.2%, with its most recent earnings report showing a loss of ($0.06) per share, missing estimates significantly.
• Insider buying activity included Director Patrick J. Bartels, Jr. acquiring over 58,000 shares of Douglas Elliman stock at an average price of $1.92, indicating growing confidence despite recent downgrades.

Douglas Elliman (NYSE:DOUG - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Douglas Elliman Stock Up 2.1%

Shares of Douglas Elliman stock traded up $0.05 during trading hours on Friday, reaching $2.23. The company's stock had a trading volume of 609,625 shares, compared to its average volume of 781,596. Douglas Elliman has a one year low of $1.35 and a one year high of $3.20. The company has a market capitalization of $197.45 million, a P/E ratio of -3.01 and a beta of 1.78. The stock's fifty day simple moving average is $2.61 and its two-hundred day simple moving average is $2.11. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.78 and a current ratio of 3.78.

Douglas Elliman (NYSE:DOUG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.09). Douglas Elliman had a negative net margin of 5.98% and a negative return on equity of 6.81%. The firm had revenue of $271.37 million for the quarter, compared to the consensus estimate of $333.91 million.

Insider Transactions at Douglas Elliman

In other Douglas Elliman news, Director Patrick J. Bartels, Jr. bought 58,104 shares of Douglas Elliman stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of $1.92 per share, for a total transaction of $111,559.68. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.79% of the company's stock.

Hedge Funds Weigh In On Douglas Elliman

Several large investors have recently modified their holdings of DOUG. Boothbay Fund Management LLC purchased a new position in shares of Douglas Elliman in the fourth quarter worth about $27,000. Alpine Global Management LLC purchased a new position in Douglas Elliman during the fourth quarter valued at approximately $28,000. Man Group plc purchased a new position in Douglas Elliman during the fourth quarter valued at approximately $52,000. Golden State Wealth Management LLC grew its stake in Douglas Elliman by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 30,000 shares of the company's stock valued at $52,000 after acquiring an additional 15,000 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Douglas Elliman by 79.1% during the fourth quarter. JPMorgan Chase & Co. now owns 38,560 shares of the company's stock valued at $64,000 after acquiring an additional 17,027 shares in the last quarter. Hedge funds and other institutional investors own 59.56% of the company's stock.

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.