Douglas Elliman (NYSE:DOUG) Shares Down 2.9% – Here’s Why

Douglas Elliman Inc. (NYSE:DOUG)’s share price traded down 2.9% during trading on Monday. The company traded as low as $1.5050 and last traded at $1.5250. Approximately 428,500 shares traded hands during trading, a decline of 11% from the average session volume of 482,737 shares. The stock had previously closed at $1.57.

Analysts Set New Price Targets

Several analysts have recently commented on DOUG shares. Weiss Ratings raised shares of Douglas Elliman from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Wall Street Zen raised shares of Douglas Elliman from a “sell” rating to a “buy” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Douglas Elliman Stock Performance

The stock has a market cap of $138.61 million, a price-to-earnings ratio of 8.97 and a beta of 1.87. The business’s 50 day moving average is $1.78 and its 200-day moving average is $1.79.

Douglas Elliman (NYSE:DOUG) last released its earnings results on Friday, August 7th. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $283.45 million during the quarter. Douglas Elliman had a net margin of 2.47% and a negative return on equity of 19.16%.

Institutional Investors Weigh In On Douglas Elliman

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kanen Wealth Management LLC acquired a new stake in Douglas Elliman during the 1st quarter worth approximately $25,000. Two Sigma Securities LLC acquired a new position in shares of Douglas Elliman in the second quarter worth $55,000. Bank of America Corp DE purchased a new stake in shares of Douglas Elliman during the second quarter worth $76,000. Citizens Financial Group Inc. RI increased its position in shares of Douglas Elliman by 47.9% during the first quarter. Citizens Financial Group Inc. RI now owns 51,636 shares of the company’s stock worth $85,000 after acquiring an additional 16,729 shares during the period. Finally, Ieq Capital LLC acquired a new stake in shares of Douglas Elliman in the second quarter valued at $120,000. Hedge funds and other institutional investors own 59.56% of the company’s stock.

About Douglas Elliman

Douglas Elliman Inc (NYSE: DOUG) is a real estate services company whose principal business is conducted through Douglas Elliman Realty. The company provides residential real estate brokerage services, representing buyers and sellers of homes, condominiums, cooperatives, and other residential properties.

In addition to traditional brokerage, Douglas Elliman offers marketing and sales services for new development projects, as well as relocation, property management, and other real estate-related services.