GAMMA Investing LLC Buys 147,322 Shares of Redfin Co. (NASDAQ:RDFN)

GAMMA Investing LLC increased its stake in shares of Redfin Co. (NASDAQ:RDFN - Free Report) by 839.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,877 shares of the company's stock after acquiring an additional 147,322 shares during the quarter. GAMMA Investing LLC owned approximately 0.13% of Redfin worth $1,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Redfin in the 4th quarter worth approximately $27,000. US Bancorp DE grew its position in shares of Redfin by 48.3% in the 4th quarter. US Bancorp DE now owns 5,522 shares of the company's stock worth $43,000 after buying an additional 1,799 shares during the last quarter. AlphaQuest LLC grew its position in shares of Redfin by 87.8% in 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. Strategic Investment Solutions Inc. IL grew its position in shares of Redfin by 18,368.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 9,234 shares of the company's stock worth $73,000 after buying an additional 9,184 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Redfin in the 4th quarter worth approximately $83,000. 61.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RDFN. Zelman & Associates upgraded Redfin to a "strong-buy" rating in a research note on Wednesday, March 5th. Benchmark restated a "mixed" rating on shares of Redfin in a research note on Monday, May 19th. DA Davidson restated a "neutral" rating and issued a $7.25 target price on shares of Redfin in a research note on Wednesday, February 19th. Susquehanna lowered their target price on Redfin from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Finally, Citigroup raised their target price on Redfin from $7.30 to $9.20 and gave the company a "neutral" rating in a research note on Thursday, May 8th. One 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $10.45.

Redfin Trading Down 2.2%

RDFN opened at $10.80 on Friday. Redfin Co. has a 12-month low of $5.49 and a 12-month high of $15.29. The firm has a market capitalization of $1.38 billion, a PE ratio of -8.44 and a beta of 2.38. The firm has a 50 day moving average of $9.48 and a two-hundred day moving average of $8.97.

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 the consensus estimate of ($0.69) by ($0.04). The firm had revenue of $221.03 million for the quarter, compared to analysts' expectations of $220.89 million. Redfin's quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted ($0.57) earnings per share. As a group, analysts predict that Redfin Co. will post -1.25 EPS for the current fiscal year.

Insider Activity at Redfin

In other Redfin news, insider Christian John Taubman sold 16,209 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $11.15, for a total value of $180,730.35. Following the transaction, the insider now owns 74,616 shares of the company's stock, valued at $831,968.40. This represents a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.40% of the stock is owned by corporate insiders.

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.

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