Redfin Co. (NASDAQ:RDFN) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of Redfin Co. (NASDAQ:RDFN) by 12.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 177,096 shares of the company’s stock after buying an additional 19,229 shares during the period. Rhumbline Advisers’ holdings in Redfin were worth $1,064,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RDFN. Bank of New York Mellon Corp increased its position 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 valued at $2,681,000 after buying an additional 59,689 shares in the last quarter. CAP Partners LLC increased its holdings in Redfin by 14.6% during the 2nd quarter. CAP Partners LLC now owns 36,257 shares of the company’s stock valued at $218,000 after acquiring an additional 4,624 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Redfin by 695.2% during the second quarter. Assenagon Asset Management S.A. now owns 351,612 shares of the company’s stock worth $2,113,000 after acquiring an additional 307,396 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Redfin by 22.8% in the second quarter. Sequoia Financial Advisors LLC now owns 31,974 shares of the company’s stock valued at $192,000 after purchasing an additional 5,933 shares in the last quarter. Finally, Mather Group LLC. grew its position in shares of Redfin by 282.1% in the second quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock valued at $25,000 after purchasing an additional 2,821 shares during the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 3,632 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $9.25, for a total transaction of $33,596.00. Following the completion of the sale, the insider now owns 71,720 shares of the company’s stock, valued at approximately $663,410. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is owned by insiders.

Redfin Trading Up 1.0 %

NASDAQ RDFN opened at $13.38 on Monday. The company has a 50-day moving average of $9.29 and a 200-day moving average of $7.34. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.48 and a quick ratio of 1.48. Redfin Co. has a 12 month low of $4.26 and a 12 month high of $15.29. The company has a market cap of $1.63 billion, a P/E ratio of -11.24 and a beta of 2.66.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. Redfin had a negative net margin of 13.55% and a negative return on equity of 1,780.89%. The company had revenue of $295.20 million for the quarter, compared to the consensus estimate of $291.59 million. During the same quarter last year, the firm posted ($0.25) earnings per share. Redfin’s revenue was up 7.2% on a year-over-year basis. As a group, equities analysts predict that Redfin Co. will post -1.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

RDFN has been the subject of several research reports. Needham & Company LLC restated a “hold” rating on shares of Redfin in a research report on Wednesday, August 7th. Wedbush reissued a “neutral” rating and issued a $8.00 price target on shares of Redfin in a report on Wednesday, August 7th. Susquehanna decreased their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their target price 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. Finally, B. Riley upgraded shares of Redfin from a “neutral” rating to a “buy” rating and upped their target price for the company from $7.50 to $13.00 in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.68.

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.