Redfin Co. (NASDAQ:RDFN – Get Free Report) was the target of unusually large options trading on Monday. Investors purchased 14,818 call options on the stock. This is an increase of approximately 60% compared to the typical daily volume of 9,285 call options.
Redfin Price Performance
NASDAQ:RDFN traded up $1.30 during mid-day trading on Monday, hitting $8.76. The company’s stock had a trading volume of 11,930,479 shares, compared to its average volume of 4,917,627. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 295.91. The stock has a fifty day moving average of $6.92 and a 200-day moving average of $6.71. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -6.82 and a beta of 2.65. Redfin has a fifty-two week low of $4.26 and a fifty-two week high of $11.16.
Redfin (NASDAQ:RDFN – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.03. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.55%. The business had revenue of $295.20 million for the quarter, compared to analyst estimates of $291.59 million. During the same quarter in the previous year, the firm earned ($0.25) EPS. Redfin’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that Redfin will post -1.14 EPS for the current fiscal year.
Insider Buying and Selling
Institutional Trading of Redfin
Hedge funds have recently modified their holdings of the company. Mather Group LLC. grew its holdings in Redfin by 282.1% during the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after acquiring an additional 2,821 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Redfin by 205.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock valued at $31,000 after buying an additional 3,101 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Redfin in the 1st quarter valued at $58,000. New York State Teachers Retirement System acquired a new stake in shares of Redfin in the 1st quarter valued at $66,000. Finally, First Trust Direct Indexing L.P. bought a new position in Redfin in the first quarter valued at about $72,000. Institutional investors and hedge funds own 61.07% of the company’s stock.
Wall Street Analysts Forecast Growth
RDFN has been the subject of several recent research reports. Susquehanna cut their price objective on Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Stephens raised shares of Redfin from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $9.00 in a research report on Wednesday, May 8th. Citigroup decreased their target price on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. JPMorgan Chase & Co. cut their price target on shares of Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, DA Davidson reiterated a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.18.
Get Our Latest Stock Analysis on Redfin
Redfin Company 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.
See Also
- Five stocks we like better than Redfin
- 3 Monster Growth Stocks to Buy Now
- Moderna Dips on Q2 Earnings But Can It Rip on a Short Squeeze?
- Uptrend Stocks Explained: Learn How to Trade Using Uptrends
- 2 Option Strategies to Maximize Profits in a Bear Market
- Which Wall Street Analysts are the Most Accurate?
- Lululemon Stock Gears Up for a Massive Comeback Rally
Receive News & Ratings for Redfin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Redfin and related companies with MarketBeat.com's FREE daily email newsletter.