SG Americas Securities LLC Sells 299,599 Shares of Redfin Co. (NASDAQ:RDFN)

SG Americas Securities LLC lowered its stake in shares of Redfin Co. (NASDAQ:RDFN) by 96.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 10,926 shares of the company’s stock after selling 299,599 shares during the quarter. SG Americas Securities LLC’s holdings in Redfin were worth $113,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new position in Redfin during the third quarter valued at approximately $27,000. Point72 Middle East FZE bought a new position in shares of Redfin during the 4th quarter valued at $41,000. Guggenheim Capital LLC purchased a new position in shares of Redfin in the 3rd quarter worth $60,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Redfin by 41.1% in the third 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 period. Finally, Sherbrooke Park Advisers LLC purchased a new stake in Redfin during the third quarter valued at $82,000. 61.07% of the stock is currently owned by institutional investors.

Redfin Stock Performance

Shares of NASDAQ RDFN opened at $5.20 on Friday. The stock has a market cap of $620.05 million, a PE ratio of -4.44 and a beta of 2.66. Redfin Co. has a 1 year low of $4.26 and a 1 year high of $17.68. The firm has a fifty day moving average price of $6.49 and a 200-day moving average price of $7.18. The company has a debt-to-equity ratio of 295.91, a current ratio of 1.66 and a quick ratio of 1.66.

Redfin (NASDAQ:RDFN) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 11.95%. 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 prior year, the business posted ($0.83) EPS. Redfin’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts anticipate that Redfin Co. will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Redfin news, insider Christian John Taubman sold 7,916 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $359,607.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Anna Stevens sold 10,851 shares of the firm’s stock in a transaction dated 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 owns 15,477 shares in the company, valued at $104,934.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 sale, the insider now owns 52,117 shares in the company, valued at $359,607.30. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on RDFN shares. Citigroup dropped their target price on Redfin from $10.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. DA Davidson restated a “neutral” rating and set a $6.75 target price on shares of Redfin in a research report on Friday, March 22nd. Wedbush reaffirmed a “neutral” rating and set a $8.00 target price on shares of Redfin in a report on Wednesday, February 28th. Royal Bank of Canada dropped their price target on shares of Redfin from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Finally, Gordon Haskett lowered Redfin from a “hold” rating to an “underperform” rating and set a $5.50 price objective for the company. in a research note on Thursday, February 29th. Two analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.92.

About Redfin

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.