Hennessy Advisors Inc. Has $42.76 Million Stock Position in Redfin Co. (NASDAQ:RDFN)

Hennessy Advisors Inc. lessened its position in Redfin Co. (NASDAQ:RDFN - Free Report) by 8.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,642,500 shares of the company's stock after selling 453,900 shares during the period. Redfin comprises approximately 1.4% of Hennessy Advisors Inc.'s holdings, making the stock its 16th biggest holding. Hennessy Advisors Inc. owned about 3.63% of Redfin worth $42,757,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cerity Partners LLC boosted its stake in shares of Redfin by 3.3% in the 4th quarter. Cerity Partners LLC now owns 37,285 shares of the company's stock valued at $293,000 after purchasing an additional 1,189 shares in the last quarter. US Bancorp DE boosted its stake in shares of Redfin by 48.3% in the 4th 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Redfin by 4.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,377 shares of the company's stock valued at $530,000 after purchasing an additional 3,091 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Redfin by 87.8% in the 4th quarter. AlphaQuest LLC now owns 7,086 shares of the company's stock valued at $56,000 after purchasing an additional 3,312 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Redfin by 30.9% in the 4th quarter. Quantinno Capital Management LP now owns 14,077 shares of the company's stock valued at $111,000 after purchasing an additional 3,324 shares in the last quarter. Institutional investors and hedge funds own 61.07% of the company's stock.

Insider Activity

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

Redfin Stock Performance

Redfin stock traded down $0.24 during trading hours on Friday, reaching $10.80. 3,691,982 shares of the company's stock traded hands, compared to its average volume of 6,609,421. Redfin Co. has a fifty-two week low of $5.49 and a fifty-two week high of $15.29. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -8.44 and a beta of 2.38. The firm's 50 day moving average is $9.48 and its 200-day moving average is $8.97.

Redfin (NASDAQ:RDFN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) EPS for the quarter, missing analysts' consensus estimates of ($0.69) by ($0.04). The firm had revenue of $221.03 million during the quarter, compared to the consensus estimate of $220.89 million. Redfin's revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.57) earnings per share. Analysts predict that Redfin Co. will post -1.25 EPS for the current year.

Analyst Upgrades and Downgrades

RDFN has been the topic of several recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of Redfin in a research note on Tuesday, March 11th. Stephens reduced their price target 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. Benchmark reiterated a "mixed" rating on shares of Redfin in a research report on Monday, May 19th. Citigroup upped their price target on shares of Redfin from $7.30 to $9.20 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Redfin from $7.00 to $12.50 and gave the stock a "neutral" rating in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $10.45.

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.