Redfin Co. (NASDAQ:RDFN) Given Average Recommendation of “Hold” by Analysts

Shares of Redfin Co. (NASDAQ:RDFN) have been given a consensus rating of “Hold” by the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $7.68.

A number of equities research analysts have issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. B. Riley upgraded Redfin from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $7.50 to $13.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price target on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Susquehanna decreased their price objective on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Wedbush reissued a “neutral” rating and issued a $8.00 target price on shares of Redfin in a research note on Wednesday, August 7th.

Insider Activity

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total transaction of $33,596.00. Following the completion of the sale, the insider now owns 71,720 shares in the company, valued at approximately $663,410. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Redfin

Several large investors have recently modified their holdings of RDFN. Point72 Asset Management L.P. bought a new position in Redfin during the 2nd quarter worth approximately $159,000. Algert Global LLC acquired a new position in Redfin in the second quarter worth $72,000. Susquehanna Fundamental Investments LLC increased its stake in Redfin by 98.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 89,244 shares of the company’s stock valued at $536,000 after purchasing an additional 44,377 shares during the last quarter. Scientech Research LLC raised its holdings in shares of Redfin by 162.7% during the second quarter. Scientech Research LLC now owns 84,562 shares of the company’s stock worth $508,000 after purchasing an additional 52,367 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Redfin by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,971 shares of the company’s stock worth $270,000 after buying an additional 3,371 shares during the last quarter. Institutional investors own 61.07% of the company’s stock.

Redfin Price Performance

RDFN opened at $13.64 on Tuesday. Redfin has a 1 year low of $4.26 and a 1 year high of $14.54. The company’s 50 day simple moving average is $8.74 and its 200 day simple moving average is $7.14. The stock has a market capitalization of $1.66 billion, a PE ratio of -11.46 and a beta of 2.66. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.48 and a current ratio of 1.48.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. The company had revenue of $295.20 million for the quarter, compared to analyst estimates of $291.59 million. Redfin had a negative net margin of 13.55% and a negative return on equity of 1,780.89%. Redfin’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.25) EPS. As a group, sell-side analysts expect that Redfin will post -1.13 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.