BidaskClub upgraded shares of Redfin (NASDAQ:RDFN) from a sell rating to a hold rating in a research report report published on Tuesday.
A number of other analysts also recently weighed in on RDFN. Zacks Investment Research downgraded Redfin from a hold rating to a sell rating in a research report on Tuesday, October 23rd. ValuEngine cut Redfin from a buy rating to a hold rating in a research note on Wednesday, January 2nd. Zelman & Associates cut Redfin from a buy rating to a hold rating in a research note on Friday, November 9th. DA Davidson decreased their price target on Redfin to $17.50 and set a neutral rating on the stock in a research note on Tuesday, November 13th. Finally, William Blair cut Redfin from an outperform rating to a market perform rating in a research note on Friday, November 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $22.50.
NASDAQ:RDFN traded up $0.25 during mid-day trading on Tuesday, reaching $16.61. The stock had a trading volume of 12,400 shares, compared to its average volume of 637,961. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -83.41 and a beta of 0.24. Redfin has a one year low of $13.50 and a one year high of $27.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.57 and a quick ratio of 8.15.
Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, November 8th. The company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.02. The company had revenue of $140.30 million during the quarter, compared to the consensus estimate of $139.45 million. Redfin had a negative return on equity of 12.10% and a negative net margin of 6.88%. Redfin’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. As a group, sell-side analysts anticipate that Redfin will post -0.54 EPS for the current year.
In other news, insider Adam Wiener sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $16.05, for a total transaction of $160,500.00. Following the transaction, the insider now directly owns 208,449 shares of the company’s stock, valued at $3,345,606.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Scott Nagel sold 6,250 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $16.44, for a total value of $102,750.00. Following the transaction, the insider now directly owns 14,583 shares in the company, valued at $239,744.52. The disclosure for this sale can be found here. Insiders sold a total of 47,755 shares of company stock worth $758,106 over the last ninety days. Insiders own 8.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Great West Life Assurance Co. Can purchased a new position in shares of Redfin during the second quarter valued at approximately $106,000. Public Employees Retirement Association of Colorado purchased a new position in shares of Redfin during the third quarter valued at approximately $139,000. Caption Management LLC purchased a new position in shares of Redfin during the second quarter valued at approximately $191,000. United Services Automobile Association purchased a new position in shares of Redfin during the third quarter valued at approximately $195,000. Finally, D.A. Davidson & CO. purchased a new position in shares of Redfin during the third quarter valued at approximately $200,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.
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, such as assisting individuals to 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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