Valeo Financial Advisors LLC Makes New $206,000 Investment in Redfin Co. (NASDAQ:RDFN)

Valeo Financial Advisors LLC purchased a new position in Redfin Co. (NASDAQ:RDFN) in the fourth quarter, HoldingsChannel reports. The firm purchased 20,008 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds have also modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new position in shares of Redfin during the third quarter worth $27,000. DHJJ Financial Advisors Ltd. purchased a new position in shares of Redfin in the 3rd quarter worth $28,000. Point72 Middle East FZE bought a new stake in shares of Redfin in the 4th quarter worth about $41,000. Guggenheim Capital LLC bought a new stake in shares of Redfin in the 3rd quarter worth about $60,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Redfin by 41.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,442 shares of the company’s stock worth $74,000 after acquiring an additional 3,041 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors.

Redfin Stock Performance

Shares of RDFN opened at $5.65 on Wednesday. Redfin Co. has a 1-year low of $4.26 and a 1-year high of $17.68. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 295.91. The company has a 50-day moving average of $6.66 and a 200 day moving average of $7.22.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate 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 business had revenue of $218.08 million during the quarter, compared to analyst estimates of $220.32 million. During the same quarter in the previous year, the business posted ($0.83) EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Redfin Co. will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 sale, the insider now owns 52,117 shares in the company, valued at approximately $359,607.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Christian John Taubman sold 7,916 shares of Redfin stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $6.90, for a total value of $54,620.40. Following the transaction, 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 can be accessed through this link. Also, insider Anna Stevens sold 10,851 shares of Redfin stock in a transaction that occurred 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 approximately $104,934.06. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RDFN shares. 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 report on Thursday, February 29th. Citigroup lowered their target price on shares of Redfin from $10.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Royal Bank of Canada lowered their target price on shares of Redfin from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. DA Davidson restated a “neutral” rating and issued a $6.75 target price on shares of Redfin in a report on Friday, March 22nd. Finally, Wedbush reiterated a “neutral” rating and set a $8.00 price objective on shares of Redfin in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Redfin presently has an average rating of “Hold” and a consensus price target of $7.92.

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.