Redfin (NASDAQ:RDFN) Trading Up 4.2%

Redfin Co. (NASDAQ:RDFN)’s share price was up 4.2% on Friday . The company traded as high as $50.79 and last traded at $50.50. Approximately 9,423 shares were traded during trading, a decline of 99% from the average daily volume of 1,485,741 shares. The stock had previously closed at $48.46.

A number of analysts have recently weighed in on RDFN shares. TheStreet lowered Redfin from a “c-” rating to a “d+” rating in a research report on Friday, May 28th. Zacks Investment Research raised Redfin from a “sell” rating to a “hold” rating in a research report on Wednesday, September 1st. Royal Bank of Canada dropped their target price on Redfin from $68.00 to $66.00 and set an “outperform” rating on the stock in a report on Friday, August 6th. Berenberg Bank initiated coverage on Redfin in a report on Wednesday, July 21st. They issued a “hold” rating and a $64.00 target price on the stock. Finally, Stephens raised Redfin from an “equal weight” rating to an “overweight” rating and set a $71.00 target price on the stock in a report on Thursday, June 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Redfin presently has an average rating of “Hold” and a consensus target price of $66.80.

The company has a debt-to-equity ratio of 3.72, a current ratio of 3.47 and a quick ratio of 2.76. The company has a market cap of $5.29 billion, a price-to-earnings ratio of -200.84 and a beta of 1.84. The firm’s 50 day simple moving average is $53.58 and its 200-day simple moving average is $59.86.

Redfin (NASDAQ:RDFN) last announced its earnings results on Thursday, August 5th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.04. Redfin had a negative net margin of 1.27% and a negative return on equity of 3.73%. The business had revenue of $471.32 million during the quarter, compared to the consensus estimate of $454.91 million. On average, analysts forecast that Redfin Co. will post -0.89 EPS for the current year.

In related news, Director Robert J. Bass sold 1,500 shares of the firm’s stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $63.65, for a total value of $95,475.00. Following the completion of the sale, the director now owns 9,259 shares in the company, valued at $589,335.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kerry D. Chandler sold 2,287 shares of the stock in a transaction dated Monday, June 21st. The shares were sold at an average price of $58.62, for a total transaction of $134,063.94. Following the completion of the transaction, the director now directly owns 2,067 shares of the company’s stock, valued at $121,167.54. The disclosure for this sale can be found here. Insiders have sold 130,370 shares of company stock valued at $7,269,743 in the last quarter. Insiders own 6.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Focused Wealth Management Inc increased its holdings in Redfin by 16.4% in the second quarter. Focused Wealth Management Inc now owns 1,600 shares of the company’s stock valued at $101,000 after buying an additional 225 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Redfin by 58.2% in the first quarter. Lazard Asset Management LLC now owns 769 shares of the company’s stock valued at $51,000 after buying an additional 283 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Redfin by 8.6% in the first quarter. CIBC Asset Management Inc now owns 3,771 shares of the company’s stock valued at $251,000 after buying an additional 300 shares in the last quarter. MML Investors Services LLC increased its holdings in Redfin by 8.1% in the first quarter. MML Investors Services LLC now owns 4,049 shares of the company’s stock valued at $270,000 after buying an additional 305 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in Redfin by 3.8% in the first quarter. Prudential Financial Inc. now owns 8,485 shares of the company’s stock valued at $565,000 after buying an additional 310 shares in the last quarter. 87.08% of the stock is owned by institutional investors.

About Redfin (NASDAQ:RDFN)

Redfin Corp. provides real estate brokerage services. The firm engages in buying and selling homes. It operates through the following segments: Real Estate Services and Properties. The Real Estate Services segment consists of revenue transactions. The Properties segment consists of home purchase costs, capitalized improvements, selling expenses and home maintenance expenses.

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