Redfin Co. (NASDAQ:RDFN) Given Average Recommendation of “Reduce” by Brokerages

Shares of Redfin Co. (NASDAQ:RDFN) have received a consensus recommendation of “Reduce” from the nine brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $8.03.

RDFN has been the topic of a number of recent research reports. Wedbush reiterated a “neutral” rating and set a $8.00 target price on shares of Redfin in a research note on Wednesday, February 28th. Royal Bank of Canada lowered their target price on Redfin from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. DA Davidson reiterated a “neutral” rating and set a $6.75 target price on shares of Redfin in a research note on Friday, March 22nd. Gordon Haskett lowered Redfin from a “hold” rating to an “underperform” rating and set a $5.50 target price on the stock. in a research note on Thursday, February 29th. Finally, Citigroup lowered their price objective on Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th.

Insider Buying and Selling at Redfin

In other Redfin news, insider Anna Stevens sold 10,851 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total value of $73,569.78. Following the sale, the insider now owns 15,477 shares of the company’s stock, valued at approximately $104,934.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Anna Stevens sold 10,851 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $6.78, for a total transaction of $73,569.78. Following the sale, the insider now owns 15,477 shares of the company’s stock, valued at approximately $104,934.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christian John Taubman sold 7,916 shares of Redfin stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the transaction, the insider now directly owns 52,117 shares in the company, valued at $359,607.30. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Redfin by 7.9% in the 4th quarter. Vanguard Group Inc. now owns 17,238,307 shares of the company’s stock valued at $177,899,000 after buying an additional 1,260,746 shares in the last quarter. Trexquant Investment LP increased its position in Redfin by 208.8% in the 4th quarter. Trexquant Investment LP now owns 617,880 shares of the company’s stock valued at $6,377,000 after buying an additional 417,811 shares in the last quarter. HST Ventures LLC bought a new stake in Redfin in the 4th quarter valued at about $4,086,000. Qube Research & Technologies Ltd increased its position in Redfin by 144.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 499,577 shares of the company’s stock valued at $3,517,000 after buying an additional 294,802 shares in the last quarter. Finally, TB Alternative Assets Ltd. bought a new stake in Redfin in the 4th quarter valued at about $2,050,000. 61.07% of the stock is owned by institutional investors.

Redfin Price Performance

NASDAQ:RDFN opened at $6.37 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 295.91. The stock’s 50 day moving average price is $6.14 and its two-hundred day moving average price is $7.16. The firm has a market capitalization of $761.02 million, a price-to-earnings ratio of -5.44 and a beta of 2.68. Redfin has a 12-month low of $4.26 and a 12-month high of $17.68.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.01. The firm had revenue of $218.08 million for the quarter, compared to analyst estimates of $220.32 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.83) earnings per share. On average, analysts anticipate that Redfin will post -1.31 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.