Hennessy Advisors Inc. reduced its position in Redfin Co. (NASDAQ:RDFN - Free Report) by 8.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 largest position. Hennessy Advisors Inc. owned approximately 3.63% of Redfin worth $42,757,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Redfin in the fourth quarter worth $27,000. US Bancorp DE increased its position in shares of Redfin by 48.3% during 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 during the last quarter. AlphaQuest LLC lifted 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 worth $56,000 after purchasing an additional 3,312 shares during the period. Strategic Investment Solutions Inc. IL increased its holdings in Redfin by 18,368.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 9,234 shares of the company's stock valued at $73,000 after buying an additional 9,184 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Redfin in the fourth quarter worth approximately $83,000. 61.07% of the stock is owned by institutional investors.
Insider Transactions at Redfin
In other news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction 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 transaction, the insider now owns 74,616 shares in the company, valued at $831,968.40. The trade was a 17.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.40% of the company's stock.
Wall Street Analyst Weigh In
RDFN has been the subject of several analyst reports. B. Riley lowered Redfin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 10th. Needham & Company LLC reaffirmed a "hold" rating on shares of Redfin in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lifted their price objective on Redfin from $7.00 to $12.50 and gave the company a "neutral" rating in a research report on Monday, March 24th. Gordon Haskett raised shares of Redfin to a "hold" rating in a report on Monday, March 10th. Finally, 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. 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 an average price target of $10.45.
Read Our Latest Report on Redfin
Redfin Stock Down 4.0%
NASDAQ RDFN traded down $0.43 on Tuesday, reaching $10.35. The company had a trading volume of 3,826,047 shares, compared to its average volume of 7,513,942. The firm's 50 day moving average price is $9.52 and its 200 day moving average price is $8.98. The stock has a market capitalization of $1.33 billion, a PE ratio of -8.09 and a beta of 2.38. Redfin Co. has a 12 month low of $5.49 and a 12 month high of $15.29.
Redfin (NASDAQ:RDFN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.73) earnings per share (EPS) 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. The firm's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.57) EPS. On average, research analysts expect that Redfin Co. will post -1.25 EPS for the current year.
Redfin Company Profile
(
Free Report)
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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