Redfin Co. (NASDAQ:RDFN) Given Average Rating of “Reduce” by Brokerages

Shares of Redfin Co. (NASDAQ:RDFN) have received a consensus recommendation of “Reduce” from the twelve brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $8.08.

RDFN has been the topic of several research reports. Susquehanna raised their price objective on shares of Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. DA Davidson restated a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research report on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research report on Wednesday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a report on Thursday, May 16th. Finally, Citigroup decreased their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th.

Insider Activity

In related news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $6.96, for a total transaction of $25,278.72. Following the sale, the insider now owns 57,274 shares of the company’s stock, valued at $398,627.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Redfin by 11.3% in the first quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock valued at $127,623,000 after buying an additional 1,953,127 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Redfin by 25.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock worth $14,450,000 after acquiring an additional 445,486 shares during the last quarter. Trexquant Investment LP raised its position in Redfin by 208.8% during the fourth quarter. Trexquant Investment LP now owns 617,880 shares of the company’s stock worth $6,377,000 after acquiring an additional 417,811 shares during the last quarter. HST Ventures LLC purchased a new stake in shares of Redfin in the fourth quarter valued at about $4,086,000. Finally, Qube Research & Technologies Ltd grew its position in shares of Redfin by 144.0% in the third quarter. Qube Research & Technologies Ltd now owns 499,577 shares of the company’s stock valued at $3,517,000 after purchasing an additional 294,802 shares during the last quarter. 61.07% of the stock is owned by institutional investors and hedge funds.

Redfin Stock Up 5.7 %

RDFN opened at $5.96 on Thursday. Redfin has a one year low of $4.26 and a one year high of $17.68. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $712.04 million, a P/E ratio of -5.01 and a beta of 2.66. The business’s 50-day simple moving average is $6.36 and its 200-day simple moving average is $7.12.

Redfin (NASDAQ:RDFN) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.01. The company had revenue of $225.50 million for the quarter, compared to analyst estimates of $217.79 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.76%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.93) earnings per share. Analysts anticipate that Redfin will post -1.11 EPS for the current year.

Redfin Company Profile

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; and originates and sells mortgages.