SG Americas Securities LLC Makes New Investment in Redfin Co. (NASDAQ:RDFN)

SG Americas Securities LLC acquired a new position in Redfin Co. (NASDAQ:RDFN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 49,174 shares of the company’s stock, valued at approximately $616,000.

A number of other institutional investors have also recently made changes to their positions in RDFN. Vanguard Group Inc. lifted its position in shares of Redfin by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock valued at $127,623,000 after buying an additional 1,953,127 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Redfin by 25.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,173,004 shares of the company’s stock valued at $14,450,000 after buying an additional 445,486 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Redfin by 695.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 351,612 shares of the company’s stock valued at $2,113,000 after buying an additional 307,396 shares during the last quarter. Manchester Capital Management LLC lifted its position in shares of Redfin by 135.7% during the 1st quarter. Manchester Capital Management LLC now owns 144,118 shares of the company’s stock valued at $958,000 after buying an additional 82,965 shares during the last quarter. Finally, Ensign Peak Advisors Inc purchased a new position in shares of Redfin during the 2nd quarter valued at $479,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Redfin Stock Up 3.8 %

Shares of NASDAQ RDFN opened at $11.12 on Tuesday. The firm has a market capitalization of $1.33 billion, a P/E ratio of -9.34 and a beta of 2.68. The stock’s 50-day simple moving average is $10.45 and its two-hundred day simple moving average is $7.92. Redfin Co. has a twelve month low of $4.26 and a twelve month 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, beating the consensus estimate of ($0.26) by $0.03. The firm had revenue of $295.20 million for the quarter, compared to the consensus estimate of $291.59 million. Redfin’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.25) earnings per share. As a group, research analysts anticipate that Redfin Co. will post -1.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RDFN shares. DA Davidson reaffirmed a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Wednesday, July 3rd. Susquehanna dropped their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. B. Riley increased their price objective on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Wedbush reissued a “neutral” rating and set a $8.00 price objective on shares of Redfin in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.88.

Insider Activity

In other news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total transaction of $33,596.00. Following the transaction, the insider now directly owns 71,720 shares in the company, valued at approximately $663,410. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.

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.