Reynders McVeigh Capital Management LLC bought a new position in shares of Redfin Corp (NASDAQ:RDFN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 68,315 shares of the company’s stock, valued at approximately $1,228,000.
Other institutional investors also recently bought and sold shares of the company. Peregrine Asset Advisers Inc. bought a new position in shares of Redfin during the 1st quarter worth approximately $3,750,000. Clearbridge Investments LLC increased its holdings in Redfin by 13.8% during the 1st quarter. Clearbridge Investments LLC now owns 677,509 shares of the company’s stock valued at $13,733,000 after purchasing an additional 82,008 shares in the last quarter. Legal & General Group Plc increased its holdings in Redfin by 4.4% during the 4th quarter. Legal & General Group Plc now owns 31,859 shares of the company’s stock valued at $459,000 after purchasing an additional 1,333 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Redfin during the 2nd quarter valued at $192,000. Finally, Bank of Montreal Can increased its holdings in Redfin by 5,607.1% during the 1st quarter. Bank of Montreal Can now owns 63,862 shares of the company’s stock valued at $1,295,000 after purchasing an additional 62,743 shares in the last quarter. Institutional investors and hedge funds own 93.14% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Wedbush set a $30.00 price target on Redfin and gave the company a “buy” rating in a report on Friday, July 12th. Stephens raised Redfin from an “underweight” rating to an “overweight” rating and raised their price target for the company from $18.00 to $23.00 in a report on Monday, June 10th. BidaskClub raised Redfin from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research cut Redfin from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Finally, Bank of America raised their price target on Redfin from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $22.93.
Shares of NASDAQ RDFN traded down $1.18 during midday trading on Friday, hitting $16.86. The stock had a trading volume of 765,998 shares, compared to its average volume of 1,234,955. The company’s 50-day simple moving average is $17.93 and its 200 day simple moving average is $18.87. The firm has a market cap of $1.69 billion, a P/E ratio of -34.41 and a beta of 1.36. Redfin Corp has a fifty-two week low of $13.50 and a fifty-two week high of $23.47. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.91 and a quick ratio of 3.19.
Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, August 1st. The company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. The company had revenue of $197.80 million during the quarter, compared to analysts’ expectations of $190.35 million. Redfin had a negative return on equity of 25.83% and a negative net margin of 15.47%. The business’s revenue for the quarter was up 38.7% on a year-over-year basis. During the same period last year, the firm earned $0.04 EPS. Equities analysts expect that Redfin Corp will post -0.93 EPS for the current fiscal year.
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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