TheStreet Downgrades Redfin (RDFN) to D+

Redfin (NASDAQ:RDFN) was downgraded by stock analysts at TheStreet from a “c-” rating to a “d+” rating in a research note issued to investors on Tuesday, TheStreetRatingsTable reports.

A number of other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Redfin from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub downgraded shares of Redfin from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Redfin in a research report on Thursday, May 9th. Compass Point cut shares of Redfin from a “buy” rating to a “neutral” rating and cut their target price for the stock from $25.00 to $22.00 in a research note on Thursday, May 9th. Finally, ValuEngine cut shares of Redfin from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Redfin has an average rating of “Hold” and a consensus price target of $21.63.

Shares of Redfin stock opened at $17.30 on Tuesday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -35.31 and a beta of 0.91. Redfin has a fifty-two week low of $13.50 and a fifty-two week high of $26.01. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.73 and a quick ratio of 4.36.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.01. The business had revenue of $110.10 million during the quarter, compared to the consensus estimate of $103.97 million. Redfin had a negative net margin of 14.06% and a negative return on equity of 22.64%. The company’s revenue was up 37.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($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 related news, insider Adam Wiener sold 10,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $22.05, for a total transaction of $220,500.00. Following the completion of the sale, the insider now owns 135,849 shares of the company’s stock, valued at approximately $2,995,470.45. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Bridget Frey sold 6,381 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $19.76, for a total transaction of $126,088.56. Following the sale, the insider now directly owns 44,313 shares of the company’s stock, valued at approximately $875,624.88. The disclosure for this sale can be found here. Insiders have sold 73,784 shares of company stock valued at $1,543,936 in the last three months. Corporate insiders own 8.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in RDFN. Penserra Capital Management LLC purchased a new stake in Redfin during the 1st quarter valued at about $25,000. Captrust Financial Advisors grew its stake in Redfin by 167.7% during the 4th quarter. Captrust Financial Advisors now owns 2,136 shares of the company’s stock valued at $31,000 after acquiring an additional 1,338 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Redfin during the 1st quarter valued at about $36,000. Edge Wealth Management LLC purchased a new stake in Redfin during the 1st quarter valued at about $45,000. Finally, Great Point Wealth Advisors LLC purchased a new stake in Redfin during the 4th quarter valued at about $144,000. 94.57% of the stock is owned by institutional investors.

Redfin Company Profile

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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Analyst Recommendations for Redfin (NASDAQ:RDFN)

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