Quantbot Technologies LP Raises Stake in Redfin Co. (NASDAQ:RDFN)

Quantbot Technologies LP raised its stake in Redfin Co. (NASDAQ:RDFN) by 331.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,450 shares of the company’s stock after buying an additional 87,184 shares during the quarter. Quantbot Technologies LP owned approximately 0.09% of Redfin worth $1,422,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC grew its holdings in shares of Redfin by 98.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 89,244 shares of the company’s stock worth $536,000 after purchasing an additional 44,377 shares during the period. Vanguard Group Inc. grew its holdings in shares of Redfin by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 19,191,434 shares of the company’s stock worth $127,623,000 after purchasing an additional 1,953,127 shares during the period. SG Americas Securities LLC purchased a new position in shares of Redfin during the 3rd quarter worth $616,000. Assenagon Asset Management S.A. grew its holdings in shares of Redfin by 210.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,092,371 shares of the company’s stock worth $13,687,000 after purchasing an additional 740,759 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Redfin by 992.7% during the 2nd quarter. GAMMA Investing LLC now owns 23,308 shares of the company’s stock worth $140,000 after purchasing an additional 21,175 shares during the period. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Redfin Price Performance

RDFN stock opened at $9.49 on Friday. The firm has a market capitalization of $1.18 billion, a P/E ratio of -7.41 and a beta of 2.70. The business’s 50-day moving average is $10.45 and its two-hundred day moving average is $8.78. Redfin Co. has a 1 year low of $5.10 and a 1 year high of $15.29.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The business had revenue of $278.02 million during the quarter, compared to the consensus estimate of $280.21 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, analysts expect that Redfin Co. will post -1.23 EPS for the current year.

Insider Transactions at Redfin

In other news, insider Anthony Ray Kappus sold 8,417 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $8.43, for a total transaction of $70,955.31. Following the sale, the insider now owns 29,978 shares of the company’s stock, valued at approximately $252,714.54. This trade represents a 21.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

RDFN has been the subject of a number of research analyst reports. Wedbush increased their price target on Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Susquehanna raised their target price on Redfin from $7.00 to $10.00 and gave the company a “neutral” rating in a report on Monday, November 11th. The Goldman Sachs Group cut Redfin from a “neutral” rating to a “sell” rating and raised their target price for the company from $6.00 to $6.50 in a report on Monday, November 18th. Needham & Company LLC restated a “hold” rating on shares of Redfin in a report on Wednesday, August 7th. Finally, DA Davidson restated a “neutral” rating and set a $7.25 target price on shares of Redfin in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.98.

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.