CIBRA Capital Ltd Makes New Investment in Redfin Corporation (NASDAQ:RDFN)

CIBRA Capital Ltd acquired a new position in shares of Redfin Corporation (NASDAQ:RDFN - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 143,533 shares of the company's stock, valued at approximately $1,322,000. Redfin comprises about 0.5% of CIBRA Capital Ltd's investment portfolio, making the stock its 21st largest holding. CIBRA Capital Ltd owned 0.11% of Redfin as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RDFN. Proficio Capital Partners LLC purchased a new stake in Redfin in the fourth quarter valued at approximately $276,000. US Bancorp DE boosted its holdings in Redfin by 48.3% in the fourth quarter. US Bancorp DE now owns 5,522 shares of the company's stock valued at $43,000 after purchasing an additional 1,799 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Redfin by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company's stock worth $8,042,000 after buying an additional 23,621 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Redfin in the 4th quarter valued at about $83,000. Finally, AlphaQuest LLC lifted its holdings in Redfin by 87.8% during the 4th quarter. AlphaQuest LLC now owns 7,086 shares of the company's stock worth $56,000 after buying an additional 3,312 shares during the last quarter. 61.07% of the stock is owned by institutional investors and hedge funds.

Redfin Stock Performance

Shares of Redfin stock remained flat at $11.19 on Wednesday. Redfin Corporation has a fifty-two week low of $5.49 and a fifty-two week high of $15.29. The company has a market capitalization of $1.43 billion, a P/E ratio of -7.31 and a beta of 2.38. The firm's 50-day moving average price is $10.09 and its 200 day moving average price is $9.10.

Redfin (NASDAQ:RDFN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.04). The business had revenue of $221.03 million during the quarter, compared to the consensus estimate of $220.89 million. During the same period in the prior year, the company earned ($0.57) earnings per share. Redfin's revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that Redfin Corporation will post -1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RDFN. Citigroup boosted their price objective on shares of Redfin from $7.30 to $9.20 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Benchmark reaffirmed a "mixed" rating on shares of Redfin in a report on Monday, May 19th. Gordon Haskett raised Redfin to a "hold" rating in a report on Monday, March 10th. Stephens reduced their price objective on Redfin from $12.50 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Redfin in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $10.45.

Redfin Company Profile

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; and originates and sells mortgages.