Douglas Elliman (NYSE:DOUG) Shares Up 2.7% – Here’s Why

Douglas Elliman Inc. (NYSE:DOUG)’s stock price shot up 2.7% on Monday . The company traded as high as $2.71 and last traded at $2.70. 493,208 shares changed hands during trading, a decline of 2% from the average session volume of 503,162 shares. The stock had previously closed at $2.63.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Douglas Elliman from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Douglas Elliman in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Douglas Elliman presently has a consensus rating of “Sell”.

Douglas Elliman Stock Up 2.7%

The firm’s fifty day simple moving average is $2.55 and its 200-day simple moving average is $2.61. The company has a market cap of $239.81 million, a PE ratio of -3.86 and a beta of 1.76. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.55.

Institutional Trading of Douglas Elliman

A number of large investors have recently made changes to their positions in DOUG. Goldman Sachs Group Inc. increased its stake in shares of Douglas Elliman by 31.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 474,407 shares of the company’s stock valued at $816,000 after acquiring an additional 112,511 shares during the last quarter. Jane Street Group LLC increased its position in Douglas Elliman by 26.5% during the first quarter. Jane Street Group LLC now owns 529,833 shares of the company’s stock worth $911,000 after purchasing an additional 110,905 shares during the last quarter. Pekin Hardy Strauss Inc. raised its stake in Douglas Elliman by 34.1% during the second quarter. Pekin Hardy Strauss Inc. now owns 255,500 shares of the company’s stock worth $593,000 after purchasing an additional 65,000 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Douglas Elliman by 8.3% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,597,367 shares of the company’s stock valued at $3,706,000 after buying an additional 123,055 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Douglas Elliman by 9.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 670,099 shares of the company’s stock worth $1,555,000 after buying an additional 55,534 shares during the period. Institutional investors and hedge funds own 59.56% of the company’s stock.

About Douglas Elliman

Douglas Elliman (NYSE: DOUG) is one of the largest residential real estate brokerages in the United States, offering an array of services that span property sales, leasing and management. Founded in 1911 and headquartered in New York City, the firm has built a reputation for representing high-end residential properties and guiding clients through complex real estate transactions. Over the course of its history, Douglas Elliman has expanded its offerings to include specialized support for developers, investors and individual homeowners.

The company’s core business activities include residential brokerage, new development marketing, and property management.