Redfin (NASDAQ:RDFN) Cut to “Hold” at ValuEngine

ValuEngine lowered shares of Redfin (NASDAQ:RDFN) from a buy rating to a hold rating in a research report report published on Tuesday morning, ValuEngine reports.

Several other equities research analysts have also weighed in on RDFN. Zacks Investment Research lowered shares of Redfin from a buy rating to a hold rating in a report on Tuesday, February 18th. BidaskClub lowered shares of Redfin from a buy rating to a hold rating in a research report on Tuesday. Needham & Company LLC raised shares of Redfin from an underperform rating to a hold rating in a research note on Tuesday. SunTrust Banks lifted their price objective on shares of Redfin to $30.00 and gave the company a positive rating in a research note on Thursday, February 13th. Finally, DA Davidson upgraded shares of Redfin from a neutral rating to a buy rating and boosted their price objective for the company from $18.50 to $25.00 in a research report on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $25.27.

Shares of RDFN stock traded up $1.96 on Tuesday, reaching $18.16. The company had a trading volume of 3,105,625 shares, compared to its average volume of 1,845,961. The stock has a market cap of $1.11 billion, a PE ratio of -20.40 and a beta of 0.99. The company has a 50-day moving average of $24.38 and a 200-day moving average of $20.94. The company has a current ratio of 5.30, a quick ratio of 4.43 and a debt-to-equity ratio of 0.54. Redfin has a 12 month low of $9.63 and a 12 month high of $32.77.

Redfin (NASDAQ:RDFN) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.04. The business had revenue of $233.20 million for the quarter, compared to analyst estimates of $217.17 million. Redfin had a negative net margin of 10.36% and a negative return on equity of 25.14%. Redfin’s quarterly revenue was up 87.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) EPS. Sell-side analysts anticipate that Redfin will post -0.7 earnings per share for the current year.

In related news, CFO Christopher John Nielsen sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $24.59, for a total transaction of $73,770.00. Following the transaction, the chief financial officer now directly owns 11,306 shares of the company’s stock, valued at approximately $278,014.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Adam Wiener sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $23.20, for a total value of $580,000.00. Following the transaction, the insider now directly owns 197,842 shares in the company, valued at $4,589,934.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,500 shares of company stock valued at $1,790,240. 8.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC bought a new stake in shares of Redfin in the third quarter valued at approximately $25,000. NumerixS Investment Technologies Inc boosted its stake in shares of Redfin by 119.1% during the 4th quarter. NumerixS Investment Technologies Inc now owns 2,410 shares of the company’s stock worth $51,000 after acquiring an additional 1,310 shares in the last quarter. Penserra Capital Management LLC raised its holdings in Redfin by 53.5% in the 4th quarter. Penserra Capital Management LLC now owns 3,792 shares of the company’s stock worth $93,000 after purchasing an additional 1,322 shares during the period. Great West Life Assurance Co. Can acquired a new stake in Redfin in the fourth quarter valued at approximately $93,000. Finally, SG Americas Securities LLC acquired a new stake in Redfin in the fourth quarter valued at approximately $171,000. 90.28% of the stock is owned by hedge funds and other 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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