Redfin Corp (NASDAQ:RDFN) Receives Consensus Rating of “Hold” from Brokerages

Redfin Corp (NASDAQ:RDFN) has been assigned an average rating of “Hold” from the twenty-two brokerages that are presently covering the company, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $22.50.

Several research firms have recently commented on RDFN. DA Davidson set a $16.00 price objective on Redfin and gave the stock a “hold” rating in a research note on Tuesday, July 2nd. BidaskClub upgraded Redfin from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Cowen set a $24.00 price objective on Redfin and gave the stock a “buy” rating in a research note on Friday, June 21st. Susquehanna Bancshares upgraded Redfin from a “neutral” rating to a “positive” rating and set a $23.00 price objective for the company in a research note on Wednesday, July 17th. Finally, Zacks Investment Research lowered Redfin from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th.

RDFN traded up $0.25 during mid-day trading on Friday, reaching $17.01. 1,365,500 shares of the company traded hands, compared to its average volume of 1,195,811. The stock has a market capitalization of $1.54 billion, a P/E ratio of -34.71 and a beta of 1.36. The company has a quick ratio of 3.19, a current ratio of 3.91 and a debt-to-equity ratio of 0.54. The company’s fifty day moving average price is $17.99 and its 200-day moving average price is $18.89. Redfin has a 52-week low of $13.50 and a 52-week high of $23.47.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. The firm had revenue of $197.80 million during the quarter, compared to analyst estimates of $190.35 million. Redfin had a negative return on equity of 25.83% and a negative net margin of 15.47%. Redfin’s revenue was up 38.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 EPS. As a group, sell-side analysts forecast that Redfin will post -0.93 earnings per share for the current fiscal year.

In other Redfin news, CFO Christopher John Nielsen sold 3,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $17.35, for a total transaction of $52,050.00. Following the completion of the transaction, the chief financial officer now owns 8,542 shares of the company’s stock, valued at approximately $148,203.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam Wiener sold 5,000 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $18.03, for a total transaction of $90,150.00. Following the transaction, the insider now directly owns 255,503 shares of the company’s stock, valued at approximately $4,606,719.09. The disclosure for this sale can be found here. Insiders sold a total of 39,000 shares of company stock valued at $727,640 in the last quarter. 8.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDFN. Dimensional Fund Advisors LP bought a new stake in shares of Redfin during the 4th quarter valued at $350,000. Bank of America Corp DE lifted its position in shares of Redfin by 6.9% during the 4th quarter. Bank of America Corp DE now owns 168,181 shares of the company’s stock valued at $2,422,000 after acquiring an additional 10,889 shares during the period. Jane Street Group LLC bought a new stake in shares of Redfin during the 4th quarter valued at $195,000. Legal & General Group Plc lifted its position in shares of 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 acquiring an additional 1,333 shares during the period. Finally, Norges Bank bought a new stake in shares of Redfin during the 4th quarter valued at $6,554,000. 92.70% of the stock is owned by institutional investors and hedge funds.

About Redfin

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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