Merit Financial Group LLC Grows Holdings in Redfin Co. (NASDAQ:RDFN)

Merit Financial Group LLC grew its position in Redfin Co. (NASDAQ:RDFNFree Report) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,848 shares of the company’s stock after acquiring an additional 1,529 shares during the period. Merit Financial Group LLC’s holdings in Redfin were worth $125,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Hollencrest Capital Management purchased a new position in Redfin during the third quarter valued at $25,000. Blue Trust Inc. lifted its stake in Redfin by 285.7% in the 3rd quarter. Blue Trust Inc. now owns 3,302 shares of the company’s stock valued at $41,000 after buying an additional 2,446 shares in the last quarter. Quest Partners LLC acquired a new stake in Redfin in the 3rd quarter worth about $47,000. DekaBank Deutsche Girozentrale purchased a new stake in Redfin during the 3rd quarter worth approximately $48,000. Finally, CWM LLC raised its holdings in shares of Redfin by 45.6% during the third quarter. CWM LLC now owns 8,725 shares of the company’s stock valued at $109,000 after acquiring an additional 2,734 shares during the last quarter. 61.07% of the stock is owned by hedge funds and other institutional investors.

Redfin Trading Down 2.7 %

Shares of Redfin stock opened at $7.90 on Monday. Redfin Co. has a twelve month low of $5.10 and a twelve month high of $15.29. The stock has a market cap of $979.44 million, a price-to-earnings ratio of -6.17 and a beta of 2.64. The company has a fifty day moving average price of $8.47 and a 200 day moving average price of $9.38.

Redfin (NASDAQ:RDFNGet Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The firm had revenue of $278.02 million for the quarter, compared to analyst estimates of $280.21 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Analysts forecast that Redfin Co. will post -1.25 earnings per share for the current year.

Insider Buying and Selling at Redfin

In related news, insider Anthony Ray Kappus sold 8,417 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $8.43, for a total value of $70,955.31. Following the sale, the insider now directly owns 29,978 shares in the company, valued at $252,714.54. This trade represents a 21.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christian John Taubman sold 16,333 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $8.44, for a total value of $137,850.52. Following the sale, the insider now directly owns 73,466 shares in the company, valued at approximately $620,053.04. The trade was a 18.19 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RDFN shares. Wedbush upped their target price on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. B. Riley upped their price objective on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group lowered shares of Redfin from a “neutral” rating to a “sell” rating and raised their target price for the stock from $6.00 to $6.50 in a research note on Monday, November 18th. Citigroup dropped their price target on Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. increased their price target on Redfin from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Redfin presently has an average rating of “Hold” and a consensus target price of $9.16.

Read Our Latest Stock Report on Redfin

Redfin Company Profile

(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.

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Institutional Ownership by Quarter for Redfin (NASDAQ:RDFN)

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