Y Intercept Hong Kong Ltd Invests $174,000 in Redfin Co. (NASDAQ:RDFN)

Y Intercept Hong Kong Ltd bought a new stake in shares of Redfin Co. (NASDAQ:RDFN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,880 shares of the company’s stock, valued at approximately $174,000.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in Redfin by 15.4% during 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 purchasing an additional 59,689 shares during the period. Rhumbline Advisers raised its holdings in 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 buying an additional 19,229 shares during the period. Arizona State Retirement System lifted its position in Redfin by 5.4% in the second quarter. Arizona State Retirement System now owns 33,381 shares of the company’s stock worth $201,000 after buying an additional 1,710 shares during the last quarter. Headlands Technologies LLC lifted its position in Redfin by 61.8% in the second quarter. Headlands Technologies LLC now owns 54,288 shares of the company’s stock worth $326,000 after buying an additional 20,737 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Redfin during the second quarter worth $108,000. Institutional investors own 61.07% of the company’s stock.

Insider Transactions at Redfin

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

Analysts Set New Price Targets

RDFN has been the topic of several recent analyst reports. Jefferies Financial Group increased their target price on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Susquehanna increased their price objective on shares of Redfin from $7.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. B. Riley boosted their target price on Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. increased their price target on Redfin from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, Wedbush lifted their target price on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.98.

Redfin Trading Up 0.9 %

Shares of NASDAQ RDFN opened at $8.07 on Friday. The stock has a market capitalization of $1.00 billion, a PE ratio of -6.30 and a beta of 2.63. Redfin Co. has a 12-month low of $5.10 and a 12-month high of $15.29. The stock’s fifty day simple moving average is $9.70 and its two-hundred day simple moving average is $9.03.

Redfin (NASDAQ:RDFN) last posted its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The business had revenue of $278.02 million during the quarter, compared to the consensus estimate of $280.21 million. During the same quarter in the previous year, the business earned ($0.17) EPS. On average, equities analysts predict that Redfin Co. will post -1.25 earnings per share 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.