TheStreet cut shares of Redfin (NASDAQ:RDFN) from a c- rating to a d+ rating in a research note issued to investors on Tuesday morning, TheStreetRatingsTable reports.
Several other research firms also recently issued reports on RDFN. BidaskClub downgraded Redfin from a buy rating to a hold rating in a research note on Friday, May 10th. Zacks Investment Research downgraded Redfin from a buy rating to a hold rating in a research note on Tuesday. Finally, ValuEngine raised Redfin from a hold rating to a buy rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $21.63.
Shares of NASDAQ RDFN opened at $17.39 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.73 and a quick ratio of 4.36. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -35.49 and a beta of 0.91. Redfin has a 12 month low of $13.50 and a 12 month high of $26.01.
Redfin (NASDAQ:RDFN) last issued its earnings results on Wednesday, May 8th. The company reported ($0.74) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.75) by $0.01. The firm had revenue of $110.10 million during the quarter, compared to the consensus estimate of $103.97 million. Redfin had a negative return on equity of 22.64% and a negative net margin of 14.06%. The business’s quarterly revenue was up 37.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. On average, sell-side analysts predict that Redfin will post -0.93 earnings per share for the current year.
In other Redfin news, insider Bridget Frey sold 6,381 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $19.76, for a total transaction of $126,088.56. Following the completion of the sale, the insider now owns 44,313 shares of the company’s stock, valued at approximately $875,624.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam Wiener sold 10,000 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $19.58, for a total transaction of $195,800.00. Following the sale, the insider now directly owns 180,826 shares of the company’s stock, valued at approximately $3,540,573.08. The disclosure for this sale can be found here. Insiders have sold a total of 73,784 shares of company stock valued at $1,543,936 in the last three months. Insiders own 8.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its position in Redfin by 74.6% during the 1st quarter. Jane Street Group LLC now owns 23,670 shares of the company’s stock valued at $480,000 after purchasing an additional 10,110 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in Redfin by 411.0% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,171 shares of the company’s stock valued at $288,000 after purchasing an additional 11,398 shares during the period. Man Group plc acquired a new stake in Redfin during the 1st quarter valued at approximately $1,892,000. SEI Investments Co increased its position in Redfin by 81.4% during the 1st quarter. SEI Investments Co now owns 1,541,185 shares of the company’s stock valued at $31,256,000 after purchasing an additional 691,608 shares during the period. Finally, Geode Capital Management LLC increased its position in Redfin by 10.5% during the 1st quarter. Geode Capital Management LLC now owns 888,543 shares of the company’s stock valued at $18,010,000 after purchasing an additional 84,743 shares during the period. 94.57% of the stock is owned by institutional investors and hedge funds.
Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.
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