Intech Investment Management LLC Acquires Shares of 36,802 Redfin Co. (NASDAQ:RDFN)

Intech Investment Management LLC bought a new stake in Redfin Co. (NASDAQ:RDFN) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 36,802 shares of the company’s stock, valued at approximately $461,000.

Several other hedge funds have also made changes to their positions in RDFN. CAP Partners LLC grew its stake in shares of Redfin by 13.4% in the 3rd quarter. CAP Partners LLC now owns 41,104 shares of the company’s stock valued at $515,000 after purchasing an additional 4,847 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Redfin during the third quarter worth approximately $47,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Redfin during the third quarter worth $291,000. GSA Capital Partners LLP grew its position in Redfin by 53.2% in the 3rd quarter. GSA Capital Partners LLP now owns 139,203 shares of the company’s stock valued at $1,744,000 after buying an additional 48,313 shares during the last quarter. Finally, Entropy Technologies LP increased its stake in Redfin by 119.1% in the 3rd quarter. Entropy Technologies LP now owns 46,357 shares of the company’s stock valued at $581,000 after buying an additional 25,200 shares during the period. Institutional investors and hedge funds own 61.07% of the company’s stock.

Insider Activity

In related news, insider Anthony Ray Kappus sold 8,417 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $8.43, for a total transaction of $70,955.31. Following the completion of the sale, the insider now directly owns 29,978 shares of the company’s stock, valued at approximately $252,714.54. This represents a 21.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on RDFN. DA Davidson reiterated a “neutral” rating and set a $7.25 target price on shares of Redfin in a research report on Tuesday, November 19th. B. Riley increased their price objective on Redfin from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised their target price on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Susquehanna upped their price target on shares of Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, Wedbush raised their price objective on shares of Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Redfin has an average rating of “Hold” and an average price target of $8.98.

Redfin Trading Up 2.1 %

NASDAQ RDFN opened at $9.69 on Tuesday. Redfin Co. has a 1 year low of $5.10 and a 1 year high of $15.29. The company has a market cap of $1.20 billion, a P/E ratio of -7.42 and a beta of 2.70. The company has a fifty day simple moving average of $10.38 and a 200 day simple moving average of $8.80.

Redfin (NASDAQ:RDFN) last posted its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The company had revenue of $278.02 million for the quarter, compared to analyst estimates of $280.21 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Equities research analysts forecast that Redfin Co. will post -1.23 EPS for the current fiscal year.

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.