Lighthouse Investment Partners LLC Acquires Shares of 11,827 Redfin Co. (NASDAQ:RDFN)

Lighthouse Investment Partners LLC bought a new position in shares of Redfin Co. (NASDAQ:RDFN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,827 shares of the company’s stock, valued at approximately $93,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hennessy Advisors Inc. acquired a new position in Redfin during the fourth quarter worth $40,109,000. JPMorgan Chase & Co. boosted its position in shares of Redfin by 89.0% during the 4th quarter. JPMorgan Chase & Co. now owns 616,923 shares of the company’s stock valued at $4,855,000 after acquiring an additional 290,545 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Redfin during the 4th quarter valued at about $1,157,000. Northern Trust Corp boosted its position in shares of Redfin by 11.0% during the 4th quarter. Northern Trust Corp now owns 1,147,666 shares of the company’s stock valued at $9,032,000 after acquiring an additional 113,466 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Redfin by 106.8% during the fourth quarter. Hsbc Holdings PLC now owns 193,597 shares of the company’s stock worth $1,541,000 after purchasing an additional 100,004 shares during the last quarter. 61.07% of the stock is currently owned by institutional investors and hedge funds.

Redfin Price Performance

NASDAQ RDFN opened at $10.02 on Friday. The company has a market cap of $1.28 billion, a P/E ratio of -7.83 and a beta of 2.50. The stock has a 50-day moving average of $9.57 and a two-hundred day moving average of $8.89. Redfin Co. has a 1-year low of $5.49 and a 1-year high of $15.29.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.04). The business had revenue of $221.03 million during the quarter, compared to the consensus estimate of $220.89 million. During the same quarter in the prior year, the company earned ($0.57) earnings per share. Redfin’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts anticipate that Redfin Co. will post -1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on RDFN shares. B. Riley lowered shares of Redfin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 10th. Needham & Company LLC reiterated a “hold” rating on shares of Redfin in a report on Tuesday, March 11th. Susquehanna cut their target price on Redfin from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Gordon Haskett raised Redfin to a “hold” rating in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. raised their price objective on Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.45.

Insider Transactions at Redfin

In other news, insider Christian John Taubman sold 16,209 shares of Redfin stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $11.15, for a total transaction of $180,730.35. Following the sale, the insider now owns 74,616 shares in the company, valued at approximately $831,968.40. The trade was a 17.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.40% of the company’s stock.

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.