Shares of Redfin Corp (NASDAQ:RDFN) have been given an average recommendation of “Hold” by the sixteen brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.92.
Several research firms have recently commented on RDFN. BidaskClub upgraded shares of Redfin from a “sell” rating to a “hold” rating in a research note on Tuesday, January 8th. Zacks Investment Research upgraded shares of Redfin from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, January 22nd. Susquehanna Bancshares started coverage on shares of Redfin in a research note on Thursday, November 29th. They issued a “positive” rating and a $19.00 target price for the company. ValuEngine upgraded shares of Redfin from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Finally, Needham & Company LLC started coverage on shares of Redfin in a research note on Tuesday, January 8th. They issued a “hold” rating for the company.
Shares of RDFN stock traded down $0.09 during mid-day trading on Thursday, hitting $19.42. The stock had a trading volume of 1,008,361 shares, compared to its average volume of 1,375,712. Redfin has a fifty-two week low of $13.50 and a fifty-two week high of $26.01. The stock has a market capitalization of $1.76 billion, a PE ratio of -39.63 and a beta of 0.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 10.25 and a current ratio of 10.74.
Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, February 14th. The company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. Redfin had a negative net margin of 8.62% and a negative return on equity of 14.24%. The company had revenue of $124.10 million during the quarter, compared to analysts’ expectations of $117.15 million. During the same quarter last year, the business earned ($0.02) EPS. The business’s revenue was up 29.5% on a year-over-year basis. Equities analysts forecast that Redfin will post -0.87 earnings per share for the current fiscal year.
In related news, Director Selina Tobaccowala sold 1,710 shares of the firm’s stock in a transaction dated Thursday, January 17th. The shares were sold at an average price of $18.00, for a total value of $30,780.00. Following the completion of the sale, the director now owns 17,302 shares in the company, valued at $311,436. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher John Nielsen sold 3,000 shares of the firm’s stock in a transaction dated Monday, December 24th. The shares were sold at an average price of $14.00, for a total transaction of $42,000.00. Following the completion of the sale, the chief financial officer now owns 3,000 shares of the company’s stock, valued at approximately $42,000. The disclosure for this sale can be found here. Insiders sold 61,850 shares of company stock valued at $1,140,188 in the last quarter. Company insiders own 8.80% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in Redfin by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 803,800 shares of the company’s stock worth $11,574,000 after acquiring an additional 58,302 shares during the last quarter. Norges Bank acquired a new position in Redfin during the fourth quarter worth about $6,554,000. Dimensional Fund Advisors LP acquired a new position in Redfin during the fourth quarter worth about $350,000. Amalgamated Bank acquired a new position in Redfin during the fourth quarter worth about $165,000. Finally, Macquarie Group Ltd. raised its position in Redfin by 13.7% during the fourth quarter. Macquarie Group Ltd. now owns 1,146,064 shares of the company’s stock worth $16,503,000 after acquiring an additional 138,058 shares during the last quarter. Institutional investors own 94.29% of the company’s stock.
Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.
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