Redfin Sees Unusually Large Options Volume (NASDAQ:RDFN)

Redfin Co. (NASDAQ:RDFNGet Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 15,439 put options on the company. This is an increase of 73% compared to the typical daily volume of 8,938 put options.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Gordon Haskett lowered shares of Redfin from a “hold” rating to an “underperform” rating and set a $5.50 target price for the company. in a research note on Thursday, February 29th. Royal Bank of Canada decreased their price objective on Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. B. Riley initiated coverage on shares of Redfin in a report on Friday, December 8th. They issued a “neutral” rating and a $8.00 price target for the company. Citigroup cut their price objective on shares of Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Finally, Wedbush reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Redfin in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.06.

Check Out Our Latest Stock Report on RDFN

Insider Buying and Selling at Redfin

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

Hedge Funds Weigh In On Redfin

Hedge funds and other institutional investors have recently made changes to their positions in the company. AlphaCrest Capital Management LLC bought a new position in Redfin in the 1st quarter valued at $436,000. Bank of Montreal Can grew its position in shares of Redfin by 207.7% during the 1st quarter. Bank of Montreal Can now owns 18,905 shares of the company’s stock valued at $357,000 after purchasing an additional 12,762 shares in the last quarter. MetLife Investment Management LLC increased its stake in Redfin by 55.8% in the 1st quarter. MetLife Investment Management LLC now owns 55,652 shares of the company’s stock worth $1,004,000 after acquiring an additional 19,937 shares during the last quarter. Rhumbline Advisers increased its position in shares of Redfin by 1.9% in the first quarter. Rhumbline Advisers now owns 113,151 shares of the company’s stock worth $2,041,000 after purchasing an additional 2,083 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Redfin by 2.5% in the first quarter. Brown Brothers Harriman & Co. now owns 41,236 shares of the company’s stock valued at $744,000 after purchasing an additional 1,000 shares in the last quarter. 78.59% of the stock is currently owned by institutional investors and hedge funds.

Redfin Trading Down 0.4 %

Shares of NASDAQ RDFN opened at $5.57 on Wednesday. Redfin has a 1-year low of $4.26 and a 1-year high of $17.68. The company has a 50-day moving average of $7.56 and a two-hundred day moving average of $7.51. The company has a market cap of $664.17 million, a PE ratio of -4.76 and a beta of 2.67. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 295.91.

Redfin (NASDAQ:RDFNGet Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.01. The business had revenue of $218.08 million for the quarter, compared to analyst estimates of $220.32 million. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the company earned ($0.83) EPS. As a group, equities analysts expect that Redfin will post -1.28 earnings per share for the current fiscal year.

Redfin Company Profile

(Get 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.

Further Reading

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