Redfin Co. (NASDAQ:RDFN) Director Bradley E. Singer Buys 50,000 Shares
Redfin Co. (NASDAQ:RDFN – Get a rating) Director Bradley E. Singer bought 50,000 shares of the company in a transaction on Monday, May 9. The shares were purchased at an average price of $11.20 per share, for a total transaction of $560,000.00. Following the completion of the acquisition, the administrator now directly owns 50,000 shares of the company, valued at approximately $560,000. The purchase was disclosed in a filing with the SEC, accessible via this link.
RDFN Action opened at $8.81 on Thursday. The company has a debt ratio of 3.92, a current ratio of 3.10 and a quick ratio of 2.21. The company has a fifty-day moving average price of $15.93 and a two-hundred-day moving average price of $29.58. Redfin Co. has a one-year low of $8.65 and a one-year high of $65.41. The stock has a market capitalization of $944.14 million, a price-earnings ratio of -5.44 and a beta of 1.99.
Redfin(NASDAQ:RDFN – Get a rating) last released its quarterly earnings data on Thursday, May 5. The company reported ($0.86) EPS for the quarter, beating analyst consensus estimates of ($1.09) by $0.23. Redfin had a negative net margin of 7.31% and a negative return on equity of 50.39%. The company posted revenue of $597.30 million in the quarter, compared to $553.97 million expected by analysts. In the same period a year earlier, the company posted ($0.37) earnings per share. The company’s revenue for the quarter increased by 122.6% compared to the same quarter last year. Research analysts expect Redfin Co. to post -2 EPS for the current fiscal year.
A number of research companies have recently published reports on RDFN. Royal Bank of Canada downgraded shares of Redfin from an “outperform” rating to an “sector performer” rating and lowered its price target for the company from $60.00 to $23.00 in a Friday, February 18 report. Wedbush lowered its price target on Redfin shares from $38.00 to $29.00 in a Friday, February 18 report. Jefferies Financial Group lowered its price target on Redfin shares from $40.00 to $32.00 and set a “hold” rating on the stock in a Thursday, Feb. 3 report. Piper Sandler lowered her price target on shares of Redfin from $11.00 to $10.00 in a Friday, May 6 report. Finally, Susquehanna Bancshares lowered its price target on Redfin shares from $25.00 to $13.00 in a report on Monday. One equity research analyst gave the stock a sell rating, eleven issued a hold rating and two issued a buy rating for the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.58.
Several institutional investors have recently changed their positions in the company. Arizona State Retirement System increased its position in Redfin shares by 1.0% in the third quarter. Arizona State Retirement System now owns 25,506 shares of the company valued at $1,278,000 after acquiring 257 additional shares during the period. Waldron Private Wealth LLC increased its position in Redfin shares by 7.6% in the fourth quarter. Waldron Private Wealth LLC now owns 5,397 shares of the company valued at $207,000 after acquiring 382 additional shares during the period. CIBC Asset Management Inc increased its position in Redfin shares by 12.3% in the third quarter. CIBC Asset Management Inc. now owns 4,235 shares of the company valued at $212,000 after acquiring an additional 464 shares during the period. Eaton Vance Management increased its position in Redfin shares by 1.2% in the third quarter. Eaton Vance Management now owns 38,966 shares of the company valued at $1,928,000 after acquiring an additional 475 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Redfin shares by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 185,445 shares of the company valued at $7,120,000 after acquiring 498 additional shares during the period. 97.94% of the shares are held by institutional investors.
Redfin Company Profile (Get a rating)
Redfin Corporation operates as a residential real estate brokerage firm in the United States and Canada. The Company operates an online real estate marketplace and provides real estate services, including helping individuals buy or sell a home. It also provides title and settlement services; issues and sells mortgages; and buys and sells houses.
Get news and reviews for Redfin Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Redfin and related companies with MarketBeat.com’s free daily email newsletter.