GAMMA Investing LLC Boosts Holdings in Redfin Corporation (NASDAQ:RDFN)

GAMMA Investing LLC boosted its position in shares of Redfin Corporation (NASDAQ:RDFN - Free Report) by 839.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 164,877 shares of the company's stock after acquiring an additional 147,322 shares during the period. GAMMA Investing LLC owned 0.13% of Redfin worth $1,519,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Redfin by 14.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 258,481 shares of the company's stock worth $2,034,000 after acquiring an additional 33,327 shares during the period. Two Sigma Advisers LP raised its stake in Redfin by 17.4% during the 4th quarter. Two Sigma Advisers LP now owns 2,524,100 shares of the company's stock worth $19,865,000 after acquiring an additional 374,200 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Redfin during the 4th quarter worth approximately $27,000. Point72 Asset Management L.P. bought a new stake in Redfin during the 4th quarter worth approximately $1,018,000. Finally, ProShare Advisors LLC raised its stake in Redfin by 51.9% during the 4th quarter. ProShare Advisors LLC now owns 33,663 shares of the company's stock worth $265,000 after acquiring an additional 11,503 shares during the period. Institutional investors own 61.07% of the company's stock.

Redfin Trading Up 4.5%

Shares of RDFN stock traded up $0.47 on Wednesday, reaching $10.82. The company's stock had a trading volume of 4,791,998 shares, compared to its average volume of 6,603,195. The stock's fifty day simple moving average is $9.59 and its 200-day simple moving average is $9.00. Redfin Corporation has a 1 year low of $5.49 and a 1 year high of $15.29. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -7.07 and a beta of 2.38.

Redfin (NASDAQ:RDFN - Get Free Report) last posted its 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 company had revenue of $221.03 million for the quarter, compared to analysts' expectations of $220.89 million. During the same period in the previous year, the business posted ($0.57) earnings per share. The business's quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast that Redfin Corporation will post -1.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

RDFN has been the topic of a number of recent analyst reports. Citigroup raised their target price on shares of Redfin from $7.30 to $9.20 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Zelman & Associates upgraded shares of Redfin to a "strong-buy" rating in a research note on Wednesday, March 5th. B. Riley cut shares of Redfin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 10th. Stephens reduced their price objective on shares of Redfin from $12.50 to $11.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, Benchmark reiterated a "mixed" rating on shares of Redfin in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Redfin presently has an average rating of "Hold" and an average target price of $10.45.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 16,209 shares of the firm's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $11.15, for a total value of $180,730.35. Following the completion of the transaction, the insider now directly owns 74,616 shares of the company's stock, valued at approximately $831,968.40. This trade represents a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by insiders.

Redfin 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.