Douglas Elliman Inc. (NYSE:DOUG) Sees Significant Growth in Short Interest

Douglas Elliman Inc. (NYSE:DOUG) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 2,397,928 shares, an increase of 55.8% from the March 15th total of 1,538,914 shares. Based on an average daily trading volume, of 1,014,389 shares, the days-to-cover ratio is presently 2.4 days. Approximately 2.9% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Douglas Elliman in a research note on Wednesday, January 21st. One 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 4.4%

Shares of NYSE DOUG opened at $1.79 on Thursday. Douglas Elliman has a 52 week low of $1.51 and a 52 week high of $3.20. The business’s 50 day moving average price is $2.05 and its 200 day moving average price is $2.40. The firm has a market cap of $157.47 million, a P/E ratio of 35.70 and a beta of 1.88.

Douglas Elliman (NYSE:DOUG) last issued its quarterly earnings data on Friday, March 13th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.19). The company had revenue of $245.45 million during the quarter, compared to analyst estimates of $275.45 million. Douglas Elliman had a net margin of 1.47% and a negative return on equity of 14.22%.

Hedge Funds Weigh In On Douglas Elliman

Large investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC purchased a new stake in shares of Douglas Elliman during the 2nd quarter valued at approximately $29,000. SG Americas Securities LLC purchased a new position in Douglas Elliman in the fourth quarter worth approximately $34,000. Virtu Financial LLC acquired a new stake in Douglas Elliman during the fourth quarter worth $36,000. EntryPoint Capital LLC acquired a new stake in Douglas Elliman during the fourth quarter worth $40,000. Finally, Alliancebernstein L.P. purchased a new stake in Douglas Elliman in the third quarter valued at $45,000. 59.56% of the stock is currently owned by institutional investors and hedge funds.

Douglas Elliman Company Profile

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.