Connor Clark & Lunn Investment Management Ltd. Buys 99,078 Shares of Redfin Co. (NASDAQ:RDFN)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Redfin Co. (NASDAQ:RDFN) by 57.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 270,340 shares of the company’s stock after purchasing an additional 99,078 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.22% of Redfin worth $2,128,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. acquired a new position in shares of Redfin in the 3rd quarter valued at approximately $291,000. Quest Partners LLC acquired a new position in Redfin during the third quarter valued at approximately $47,000. Intech Investment Management LLC bought a new stake in Redfin during the third quarter worth $461,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Redfin by 10.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,284 shares of the company’s stock valued at $12,508,000 after purchasing an additional 92,023 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Redfin by 13.0% in the 3rd quarter. Cerity Partners LLC now owns 36,096 shares of the company’s stock valued at $452,000 after purchasing an additional 4,157 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RDFN has been the subject of a number of research reports. Gordon Haskett raised shares of Redfin to a “hold” rating in a report on Monday, March 10th. B. Riley lowered shares of Redfin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 10th. Zelman & Associates upgraded Redfin to a “strong-buy” rating in a research note on Wednesday, March 5th. Citigroup reduced their price objective on Redfin from $10.50 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, Susquehanna cut their price target on Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Redfin has an average rating of “Hold” and a consensus target price of $9.48.

Redfin Trading Down 1.6 %

Shares of RDFN opened at $11.21 on Wednesday. The firm’s fifty day simple moving average is $8.21 and its two-hundred day simple moving average is $9.42. Redfin Co. has a 12 month low of $5.10 and a 12 month high of $15.29. The stock has a market capitalization of $1.42 billion, a P/E ratio of -8.76 and a beta of 2.90.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 16,333 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $8.44, for a total transaction of $137,850.52. Following the transaction, the insider now directly owns 73,466 shares of the company’s stock, valued at $620,053.04. This represents a 18.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is currently owned by insiders.

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.