HighPoint Advisor Group LLC Buys New Position in Redfin Co. (NASDAQ:RDFN)

HighPoint Advisor Group LLC bought a new stake in shares of Redfin Co. (NASDAQ:RDFN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 53,487 shares of the company’s stock, valued at approximately $552,000.

Other hedge funds have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in Redfin during the 3rd quarter valued at approximately $27,000. Sherbrooke Park Advisers LLC bought a new stake in Redfin during the 3rd quarter valued at approximately $82,000. Seven Eight Capital LP acquired a new position in Redfin in the 3rd quarter valued at approximately $86,000. Tower Research Capital LLC TRC raised its holdings in Redfin by 101.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,864 shares of the company’s stock valued at $91,000 after acquiring an additional 4,474 shares in the last quarter. Finally, Numerai GP LLC acquired a new position in Redfin in the 3rd quarter valued at approximately $126,000. Institutional investors own 61.07% of the company’s stock.

Analyst Ratings Changes

RDFN has been the subject of several recent research reports. Gordon Haskett cut Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price target for the company. in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a report on Thursday, May 16th. Citigroup dropped their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Susquehanna raised their target price on Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Finally, Stephens upgraded Redfin from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $8.00 to $9.00 in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.08.

Insider Transactions at Redfin

In other news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $6.96, for a total transaction of $25,278.72. Following the completion of the sale, the insider now owns 57,274 shares in the company, valued at $398,627.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Redfin Trading Up 1.0 %

Shares of RDFN opened at $6.11 on Thursday. The stock has a fifty day moving average price of $6.28 and a two-hundred day moving average price of $7.28. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 295.91. Redfin Co. has a 52-week low of $4.26 and a 52-week high of $17.68.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.76%. The firm had revenue of $225.50 million during the quarter, compared to the consensus estimate of $217.79 million. During the same quarter in the previous year, the company posted ($0.93) EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that Redfin Co. will post -1.11 earnings per share for the current year.

Redfin 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.