Cim Investment Management Inc. Reduces Stock Position in Redfin Co. (NASDAQ:RDFN)

Cim Investment Management Inc. lowered its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 19.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,147 shares of the company’s stock after selling 4,082 shares during the quarter. Cim Investment Management Inc.’s holdings in Redfin were worth $103,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Mather Group LLC. boosted its holdings in Redfin by 282.1% during the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock valued at $25,000 after acquiring an additional 2,821 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Redfin by 205.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after buying an additional 3,101 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Redfin during the 1st quarter worth $58,000. New York State Teachers Retirement System bought a new position in shares of Redfin during the 1st quarter worth $66,000. Finally, First Trust Direct Indexing L.P. bought a new position in shares of Redfin during the 1st quarter worth $72,000. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Insider Buying and Selling at Redfin

In other Redfin 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 value of $33,596.00. Following the completion of the sale, the insider now directly owns 71,720 shares in the company, valued at $663,410. The transaction was disclosed in a document filed with the SEC, which is available at this link. 4.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RDFN shares. JPMorgan Chase & Co. dropped their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. DA Davidson reissued a “neutral” rating and set a $7.25 price target on shares of Redfin in a research report on Wednesday, July 3rd. B. Riley raised Redfin from a “neutral” rating to a “buy” rating and increased their price target for the stock from $7.50 to $13.00 in a research report on Tuesday, September 3rd. Susquehanna dropped their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Wedbush reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.68.

Redfin Trading Down 2.6 %

Redfin stock opened at $12.51 on Friday. The stock has a 50-day moving average of $9.73 and a two-hundred day moving average of $7.53. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.48 and a current ratio of 1.48. Redfin Co. has a one year low of $4.26 and a one year high of $15.29. The stock has a market cap of $1.52 billion, a PE ratio of -10.51 and a beta of 2.66.

Redfin (NASDAQ:RDFN) last released 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. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.55%. The company had revenue of $295.20 million during the quarter, compared to analysts’ expectations of $291.59 million. During the same period last year, the business posted ($0.25) earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that Redfin Co. will post -1.13 EPS for the current fiscal year.

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.