SG Americas Securities LLC Sells 299,599 Shares of Redfin Co. (NASDAQ:RDFN)

SG Americas Securities LLC trimmed its stake in shares of Redfin Co. (NASDAQ:RDFN - Free Report) by 96.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,926 shares of the company's stock after selling 299,599 shares during the period. SG Americas Securities LLC's holdings in Redfin were worth $113,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RDFN. TB Alternative Assets Ltd. acquired a new position in shares of Redfin during the fourth quarter valued at approximately $2,050,000. Vanguard Group Inc. increased its position in shares of Redfin by 1.2% during the third quarter. Vanguard Group Inc. now owns 15,977,561 shares of the company's stock worth $112,482,000 after purchasing an additional 192,162 shares in the last quarter. American Century Companies Inc. increased its position in shares of Redfin by 225.9% during the third quarter. American Century Companies Inc. now owns 74,693 shares of the company's stock worth $526,000 after purchasing an additional 51,776 shares in the last quarter. Graham Capital Management L.P. acquired a new position in Redfin in the 3rd quarter valued at $493,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Redfin by 25.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 52,635 shares of the company's stock valued at $371,000 after purchasing an additional 10,839 shares in the last quarter. Institutional investors and hedge funds own 61.07% of the company's stock.

Wall Street Analysts Forecast Growth

RDFN has been the subject of several research reports. Citigroup dropped their price objective on shares of Redfin from $10.50 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, February 29th. Gordon Haskett lowered Redfin from a "hold" rating to an "underperform" rating and set a $5.50 price target for the company. in a research report on Thursday, February 29th. DA Davidson reiterated a "neutral" rating and issued a $6.75 price objective on shares of Redfin in a report on Friday, March 22nd. Wedbush reiterated a "neutral" rating and issued a $8.00 price objective on shares of Redfin in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada cut their target price on shares of Redfin from $10.00 to $9.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $7.92.

Redfin Stock Down 2.1 %

Redfin stock traded down $0.11 during mid-day trading on Friday, hitting $5.20. The company had a trading volume of 4,895,220 shares, compared to its average volume of 4,309,795. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 295.91. Redfin Co. has a 1 year low of $4.26 and a 1 year high of $17.68. The business has a fifty day moving average of $6.49 and a 200 day moving average of $7.18. The stock has a market cap of $620.06 million, a price-to-earnings ratio of -4.44 and a beta of 2.66.

Redfin (NASDAQ:RDFN - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.20) EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.01. Redfin had a negative net margin of 11.95% and a negative return on equity of 1,780.89%. The firm had revenue of $218.08 million for the quarter, compared to the consensus estimate of $220.32 million. During the same period last year, the firm posted ($0.83) EPS. The company's revenue was down 1.7% on a year-over-year basis. On average, sell-side analysts expect that Redfin Co. will post -1.31 earnings per share for the current fiscal year.

Insider Transactions at Redfin

In other Redfin news, insider Christian John Taubman sold 7,916 shares of the business's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the sale, the insider now owns 52,117 shares in the company, valued at $359,607.30. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Anna Stevens sold 10,851 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $6.78, for a total transaction of $73,569.78. Following the completion of the sale, the insider now owns 15,477 shares in the company, valued at $104,934.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christian John Taubman sold 7,916 shares of the business's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $6.90, for a total value of $54,620.40. Following the completion of the transaction, the insider now owns 52,117 shares in the company, valued at approximately $359,607.30. The disclosure for this sale can be found here. Insiders own 5.30% of the company's stock.

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.