The Manufacturers Life Insurance Company Has $270,000 Stock Position in Redfin Co. (NASDAQ:RDFN)

The Manufacturers Life Insurance Company raised its holdings in Redfin Co. (NASDAQ:RDFN) by 8.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,971 shares of the company’s stock after buying an additional 3,371 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Redfin were worth $270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RDFN. Mather Group LLC. lifted its position in shares of Redfin by 282.1% in the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after acquiring an additional 2,821 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Redfin by 205.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after acquiring an additional 3,101 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Redfin in the 1st quarter worth approximately $58,000. First Trust Direct Indexing L.P. bought a new stake in shares of Redfin in the 1st quarter worth approximately $72,000. Finally, Cetera Advisors LLC bought a new stake in shares of Redfin in the 1st quarter worth approximately $89,000. Institutional investors and hedge funds own 61.07% of the company’s stock.

Redfin Stock Performance

NASDAQ RDFN opened at $11.23 on Friday. The stock has a fifty day moving average of $10.79 and a 200-day moving average of $8.03. The stock has a market capitalization of $1.37 billion, a P/E ratio of -9.60 and a beta of 2.68. Redfin Co. has a 52 week low of $4.26 and a 52 week high of $15.29.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, topping 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. During the same period last year, the firm earned ($0.25) earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts forecast that Redfin Co. will post -1.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RDFN has been the subject of several analyst reports. DA Davidson restated a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Wednesday, July 3rd. Wedbush restated a “neutral” rating and set a $8.00 target price on shares of Redfin in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. B. Riley raised their target price on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Redfin has a consensus rating of “Hold” and an average price target of $7.88.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 3,632 shares of Redfin stock in a transaction 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 directly owns 71,720 shares of the company’s stock, valued at $663,410. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is owned by insiders.

About Redfin

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.