Hennessy Advisors Inc. Purchases New Stake in Redfin Co. (NASDAQ:RDFN)

Hennessy Advisors Inc. acquired a new position in shares of Redfin Co. (NASDAQ:RDFN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,096,400 shares of the company’s stock, valued at approximately $40,109,000. Redfin comprises approximately 1.2% of Hennessy Advisors Inc.’s holdings, making the stock its 28th largest holding.

Other large investors also recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in shares of Redfin during the 3rd quarter valued at about $25,000. Blue Trust Inc. boosted its holdings 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 purchasing an additional 2,446 shares during the last quarter. Quest Partners LLC acquired a new position in Redfin in the 3rd quarter valued at about $47,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Redfin in the 3rd quarter valued at approximately $48,000. Finally, Algert Global LLC acquired a new stake in shares of Redfin during the 2nd quarter worth approximately $72,000. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on RDFN. DA Davidson reiterated a “neutral” rating and issued a $7.25 price objective on shares of Redfin in a research report on Tuesday, November 19th. Citigroup lowered their price target on Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. B. Riley boosted their price objective on shares of Redfin from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, September 30th. Wedbush increased their target price on shares of Redfin from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group lifted their price target on shares of Redfin from $7.50 to $11.50 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.16.

Insider Transactions at Redfin

In other Redfin news, insider Anthony Ray Kappus sold 8,417 shares of Redfin stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $8.43, for a total transaction of $70,955.31. Following the completion of the sale, the insider now directly owns 29,978 shares of the company’s stock, valued at $252,714.54. The trade was a 21.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christian John Taubman sold 16,333 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $8.44, for a total value of $137,850.52. Following the completion of the transaction, the insider now 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. Corporate insiders own 4.40% of the company’s stock.

Redfin Stock Down 1.1 %

Shares of RDFN stock opened at $7.74 on Friday. Redfin Co. has a 52 week low of $5.10 and a 52 week high of $15.29. The firm has a 50 day moving average of $8.63 and a two-hundred day moving average of $9.26. The stock has a market capitalization of $959.61 million, a PE ratio of -6.05 and a beta of 2.64.

Redfin (NASDAQ:RDFN) last released its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The company had revenue of $278.02 million during the quarter, compared to analysts’ expectations of $280.21 million. During the same period last year, the firm earned ($0.17) earnings per share. Analysts expect that Redfin Co. will post -1.25 EPS for the current fiscal year.

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.