Douglas Elliman (NYSE:DOUG) Stock Price Up 5.1% – Here’s What Happened

Shares of Douglas Elliman Inc. (NYSE:DOUG) rose 5.1% on Wednesday . The stock traded as high as $1.95 and last traded at $1.95. Approximately 664,222 shares were traded during trading, a decline of 6% from the average daily volume of 704,311 shares. The stock had previously closed at $1.85.

Douglas Elliman Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 4.62 and a quick ratio of 4.62. The stock has a fifty day simple moving average of $1.78 and a 200-day simple moving average of $1.88. The company has a market capitalization of $173.43 million, a price-to-earnings ratio of -1.89 and a beta of 1.58.

Hedge Funds Weigh In On Douglas Elliman

Several institutional investors have recently made changes to their positions in the company. Portolan Capital Management LLC acquired a new stake in Douglas Elliman during the third quarter valued at $5,327,000. Truffle Hound Capital LLC acquired a new stake in shares of Douglas Elliman during the 4th quarter valued at about $3,340,000. First Eagle Investment Management LLC grew its position in shares of Douglas Elliman by 436.1% during the 4th quarter. First Eagle Investment Management LLC now owns 1,126,312 shares of the company’s stock valued at $1,881,000 after acquiring an additional 916,210 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Douglas Elliman by 144.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 979,425 shares of the company’s stock valued at $1,636,000 after purchasing an additional 578,044 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Douglas Elliman by 11.8% in the 4th quarter. Renaissance Technologies LLC now owns 4,361,804 shares of the company’s stock worth $7,284,000 after purchasing an additional 461,093 shares during the period. 59.56% of the stock is owned by hedge funds and other institutional investors.

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.