Los Angeles Capital Management LLC Sells 8,553 Shares of Redfin Co. (NASDAQ:RDFN)

Los Angeles Capital Management LLC lowered its stake in shares of Redfin Co. (NASDAQ:RDFN) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,282 shares of the company’s stock after selling 8,553 shares during the period. Los Angeles Capital Management LLC owned approximately 0.10% of Redfin worth $787,000 as of its most recent filing with the Securities and Exchange Commission.

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

Redfin Stock Performance

NASDAQ:RDFN opened at $6.00 on Tuesday. Redfin Co. has a twelve month low of $4.26 and a twelve month high of $17.68. The stock’s 50 day moving average price is $6.28 and its two-hundred day moving average price is $7.25. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 295.91.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.01. The firm had revenue of $225.50 million for the quarter, compared to analyst estimates of $217.79 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.76%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.93) EPS. Analysts predict that Redfin Co. will post -1.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RDFN. Royal Bank of Canada cut their price objective on Redfin from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Stephens upgraded Redfin from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $8.00 to $9.00 in a report on Wednesday, May 8th. Citigroup cut their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research note on Thursday, May 16th. Finally, Susquehanna boosted their target price on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Redfin currently has an average rating of “Hold” and an average target price of $8.08.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 3,632 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 57,274 shares of the company’s stock, valued at approximately $398,627.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.40% of the stock is owned by insiders.

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.