Institute for Wealth Management LLC. grew its position in shares of Redfin Corp (NASDAQ:RDFN) by 22.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 24,159 shares of the company’s stock after purchasing an additional 4,410 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Redfin were worth $453,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Great West Life Assurance Co. Can acquired a new position in shares of Redfin in the 2nd quarter worth $106,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Redfin in the 3rd quarter worth $139,000. Caption Management LLC acquired a new position in shares of Redfin in the 2nd quarter worth $191,000. Perkins Coie Trust Co grew its holdings in shares of Redfin by 52.4% in the 2nd quarter. Perkins Coie Trust Co now owns 8,648 shares of the company’s stock worth $200,000 after acquiring an additional 2,972 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Redfin in the 2nd quarter worth $211,000. Institutional investors own 78.07% of the company’s stock.
RDFN has been the topic of a number of recent research reports. BidaskClub cut Redfin from a “hold” rating to a “sell” rating in a report on Saturday, October 6th. Zacks Investment Research cut Redfin from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. Cowen set a $23.00 target price on Redfin and gave the stock a “buy” rating in a report on Friday, October 19th. Macquarie initiated coverage on Redfin in a report on Monday, September 17th. They issued a “neutral” rating and a $20.00 target price on the stock. Finally, William Blair restated an “outperform” rating on shares of Redfin in a report on Friday, August 10th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Redfin has a consensus rating of “Hold” and a consensus target price of $23.58.
Shares of RDFN stock opened at $15.46 on Wednesday. Redfin Corp has a 1-year low of $14.46 and a 1-year high of $31.50. The firm has a market cap of $1.39 billion, a PE ratio of -77.30 and a beta of -2.81.
Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Redfin had a negative return on equity of 10.83% and a negative net margin of 15.12%. The business had revenue of $142.60 million for the quarter, compared to the consensus estimate of $140.12 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. Redfin’s revenue for the quarter was up 35.9% compared to the same quarter last year. As a group, analysts expect that Redfin Corp will post -0.42 EPS for the current fiscal year.
Redfin Company Profile
Redfin Corporation operates as a real estate brokerage company in the United States. The company operates an online real estate marketplace and provides real estate services, such as assisting individuals to purchase or sell their residential property. It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties.
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