Redfin Co. (NASDAQ:RDFN) Receives Consensus Rating of “Reduce” from Analysts

Shares of Redfin Co. (NASDAQ:RDFN) have received an average recommendation of “Reduce” from the eleven analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $7.31.

A number of analysts recently commented on the company. DA Davidson reaffirmed a “neutral” rating and issued a $7.25 price target on shares of Redfin in a research note on Wednesday, July 3rd. Citigroup lowered their price target on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Wedbush reaffirmed a “neutral” rating and issued a $8.00 price target on shares of Redfin in a research report on Wednesday, May 8th. Stephens raised Redfin from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $8.00 to $9.00 in a research report on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research report on Thursday, May 16th.

Redfin Stock Up 5.1 %

Shares of Redfin stock opened at $8.10 on Monday. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.33 and a current ratio of 1.33. Redfin has a 52-week low of $4.26 and a 52-week high of $15.65. The stock has a market capitalization of $967.11 million, a price-to-earnings ratio of -6.80 and a beta of 2.66. The company’s 50 day moving average price is $6.63 and its 200-day moving average price is $6.85.

Redfin (NASDAQ:RDFN) last issued its earnings results on Tuesday, May 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.01. Redfin had a negative net margin of 13.76% and a negative return on equity of 1,780.89%. The firm had revenue of $225.50 million for the quarter, compared to analysts’ expectations of $217.79 million. During the same quarter last year, the business earned ($0.93) earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that Redfin will post -1.11 EPS for the current year.

Insider Activity

In other Redfin news, insider Christian John Taubman sold 3,632 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $6.96, for a total value of $25,278.72. Following the transaction, the insider now owns 57,274 shares of the company’s stock, valued at approximately $398,627.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Redfin

A number of hedge funds have recently made changes to their positions in RDFN. Vanguard Group Inc. boosted its holdings in Redfin by 1.2% in the third quarter. Vanguard Group Inc. now owns 15,977,561 shares of the company’s stock worth $112,482,000 after acquiring an additional 192,162 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Redfin by 89.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 360,212 shares of the company’s stock worth $3,717,000 after purchasing an additional 169,654 shares during the last quarter. Mirador Capital Partners LP purchased a new position in shares of Redfin in the fourth quarter worth about $226,000. Sequoia Financial Advisors LLC purchased a new position in shares of Redfin in the fourth quarter worth about $270,000. Finally, Valeo Financial Advisors LLC purchased a new position in Redfin during the fourth quarter valued at approximately $206,000. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

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.