Quantbot Technologies LP Grows Position in Redfin Co. (NASDAQ:RDFN)

Quantbot Technologies LP increased its position in shares of Redfin Co. (NASDAQ:RDFN) by 331.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 113,450 shares of the company’s stock after buying an additional 87,184 shares during the quarter. Quantbot Technologies LP’s holdings in Redfin were worth $1,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new position in Redfin during the 3rd quarter worth approximately $25,000. Blue Trust Inc. grew its stake in Redfin by 285.7% during the 3rd quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock worth $41,000 after buying an additional 2,446 shares during the last quarter. Quest Partners LLC purchased a new position in Redfin during the 3rd quarter worth approximately $47,000. Mather Group LLC. grew its stake in shares of Redfin by 282.1% in the 2nd 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. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Redfin in the 3rd quarter valued at approximately $48,000. Hedge funds and other 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 business’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 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 legal filing with the SEC, which is available through the SEC website. Insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Susquehanna lifted their target price on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Wedbush lifted their target price on Redfin from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. B. Riley lifted their target price on Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. lifted their target price on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group downgraded Redfin from a “neutral” rating to a “sell” rating and lifted their price target for the company from $6.00 to $6.50 in a research note on Monday, November 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.98.

Redfin Stock Performance

Shares of RDFN stock opened at $9.49 on Friday. The stock has a fifty day moving average price of $10.45 and a 200 day moving average price of $8.78. The stock has a market cap of $1.18 billion, a PE ratio of -7.41 and a beta of 2.70. Redfin Co. has a 1 year low of $5.10 and a 1 year high of $15.29.

Redfin (NASDAQ:RDFN) last released its quarterly 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 firm had revenue of $278.02 million during the quarter, compared to the consensus estimate of $280.21 million. During the same period last year, the business posted ($0.17) earnings per share. As a group, equities research analysts predict that Redfin Co. will post -1.23 earnings per share for the current year.

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.