Cerity Partners LLC Acquires 4,157 Shares of Redfin Co. (NASDAQ:RDFN)

Cerity Partners LLC raised its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 13.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 36,096 shares of the company’s stock after acquiring an additional 4,157 shares during the quarter. Cerity Partners LLC’s holdings in Redfin were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Assenagon Asset Management S.A. increased its holdings in Redfin by 210.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company’s stock worth $13,687,000 after acquiring an additional 740,759 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Redfin by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock worth $12,508,000 after purchasing an additional 92,023 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Redfin by 15.4% in the second quarter. Bank of New York Mellon Corp now owns 446,172 shares of the company’s stock worth $2,681,000 after purchasing an additional 59,689 shares in the last quarter. Rhumbline Advisers raised its position in shares of Redfin by 12.2% during the 2nd quarter. Rhumbline Advisers now owns 177,096 shares of the company’s stock valued at $1,064,000 after purchasing an additional 19,229 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in shares of Redfin by 53.2% during 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 in the last quarter. Institutional investors own 61.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Susquehanna raised their price target on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their target price on Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Wedbush boosted their price target on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Jefferies Financial Group increased their price objective on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, B. Riley lifted their price objective on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Two research 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.98.

Redfin Stock Performance

RDFN stock opened at $9.80 on Monday. The firm has a fifty day moving average price of $10.08 and a 200 day moving average price of $8.89. Redfin Co. has a fifty-two week low of $5.10 and a fifty-two week high of $15.29. The firm has a market cap of $1.22 billion, a PE ratio of -7.66 and a beta of 2.63.

Redfin (NASDAQ:RDFN) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) EPS 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 analysts’ expectations of $280.21 million. During the same period last year, the firm posted ($0.17) earnings per share. On average, equities analysts predict that Redfin Co. will post -1.25 EPS for the current year.

Insider Transactions at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of Redfin stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $8.43, for a total transaction of $70,955.31. Following the completion of the transaction, the insider now directly owns 29,978 shares of the company’s stock, valued at $252,714.54. The trade was a 21.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.40% 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.