Redfin Co. (NASDAQ:RDFN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Redfin Co. (NASDAQ:RDFN) have been given a consensus recommendation of “Hold” by the eleven brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $7.88.

RDFN has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. DA Davidson reissued a “neutral” rating and issued a $7.25 target price on shares of Redfin in a research note on Wednesday, July 3rd. Wedbush restated a “neutral” rating and set a $8.00 price target on shares of Redfin in a research report on Wednesday, August 7th. Susquehanna decreased their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, B. Riley upped their price objective on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, September 30th.

Redfin Price Performance

Shares of Redfin stock opened at $11.11 on Friday. The firm has a market capitalization of $1.35 billion, a PE ratio of -9.34 and a beta of 2.66. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 295.91. Redfin has a 12 month low of $4.26 and a 12 month high of $15.29. The business’s 50-day moving average price is $10.07 and its 200-day moving average price is $7.68.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. The business had revenue of $295.20 million for the quarter, compared to analysts’ expectations of $291.59 million. Redfin had a negative net margin of 13.55% and a negative return on equity of 1,780.89%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned ($0.25) earnings per share. Sell-side analysts forecast that Redfin will post -1.13 EPS for the current fiscal year.

Insider Activity

In other news, insider Christian John Taubman sold 3,632 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total value of $33,596.00. Following the sale, the insider now directly owns 71,720 shares of the company’s stock, valued at $663,410. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its stake in shares of Redfin by 5.4% in the second quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock worth $201,000 after buying an additional 1,710 shares in the last quarter. ProShare Advisors LLC boosted its stake in Redfin by 9.8% during the 1st quarter. ProShare Advisors LLC now owns 19,876 shares of the company’s stock valued at $132,000 after purchasing an additional 1,766 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Redfin by 17.7% in the 1st quarter. Principal Financial Group Inc. now owns 14,872 shares of the company’s stock worth $99,000 after purchasing an additional 2,241 shares in the last quarter. Mather Group LLC. raised its stake in shares of Redfin by 282.1% in the second quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after purchasing an additional 2,821 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Redfin by 1.3% in the first quarter. Swiss National Bank now owns 227,500 shares of the company’s stock worth $1,513,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors own 61.07% of the company’s stock.

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.