Teacher Retirement System of Texas Purchases Shares of 33,349 Redfin Corporation (NASDAQ:RDFN)

Teacher Retirement System of Texas purchased a new stake in shares of Redfin Corporation (NASDAQ:RDFN) during the first quarter, Holdings Channel reports. The firm purchased 33,349 shares of the company’s stock, valued at approximately $307,000.

A number of other large investors have also added to or reduced their stakes in the company. CIBRA Capital Ltd purchased a new stake in Redfin during the first quarter valued at about $1,322,000. Lincoln Capital Corp purchased a new stake in Redfin during the first quarter valued at about $1,039,000. FNY Investment Advisers LLC purchased a new stake in Redfin during the first quarter valued at about $46,000. Simon Quick Advisors LLC purchased a new stake in Redfin during the first quarter valued at about $172,000. Finally, Rhumbline Advisers increased its holdings in shares of Redfin by 11.9% in the first quarter. Rhumbline Advisers now owns 184,788 shares of the company’s stock worth $1,702,000 after buying an additional 19,623 shares during the period. Hedge funds and other institutional investors own 61.07% of the company’s stock.

Redfin Price Performance

Shares of NASDAQ:RDFN opened at $11.19 on Friday. Redfin Corporation has a 1 year low of $5.59 and a 1 year high of $15.29. The company has a market cap of $1.43 billion, a PE ratio of -7.31 and a beta of 2.38. The stock’s 50-day moving average is $10.62 and its 200 day moving average is $9.35.

Redfin (NASDAQ:RDFN) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.04). The business had revenue of $221.03 million during the quarter, compared to analyst estimates of $220.89 million. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.57) earnings per share. Analysts expect that Redfin Corporation will post -1.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Benchmark reiterated a “mixed” rating on shares of Redfin in a report on Monday, May 19th. Royal Bank Of Canada lifted their price objective on Redfin from $8.00 to $12.50 and gave the stock a “sector perform” rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. lifted their price objective on Redfin from $7.00 to $12.50 and gave the stock a “neutral” rating in a report on Monday, March 24th. Citigroup lifted their price objective on Redfin from $7.30 to $9.20 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Finally, Stephens decreased their price objective on Redfin from $12.50 to $11.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.45.

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.