Connor Clark & Lunn Investment Management Ltd. Has $2.13 Million Stock Holdings in Redfin Co. (NASDAQ:RDFN)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Redfin Co. (NASDAQ:RDFN) by 57.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,340 shares of the company’s stock after buying an additional 99,078 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Redfin were worth $2,128,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RDFN. Hennessy Advisors Inc. acquired a new position in Redfin during the 4th quarter valued at about $40,109,000. Geode Capital Management LLC boosted its position in shares of Redfin by 2.2% during the third quarter. Geode Capital Management LLC now owns 3,022,948 shares of the company’s stock valued at $37,884,000 after buying an additional 66,018 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Redfin by 124.9% during the third quarter. Two Sigma Advisers LP now owns 2,149,900 shares of the company’s stock worth $26,938,000 after buying an additional 1,193,900 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Redfin by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,021,905 shares of the company’s stock valued at $8,042,000 after buying an additional 23,621 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in Redfin during the 3rd quarter valued at $10,650,000. 61.07% of the stock is owned by institutional investors.

Insider Activity at Redfin

In related news, insider Christian John Taubman sold 16,333 shares of the firm’s stock in a transaction that occurred on 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 directly owns 73,466 shares of the company’s stock, valued at approximately $620,053.04. This trade represents a 18.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.40% of the stock is currently owned by company insiders.

Redfin Price Performance

Shares of RDFN opened at $11.21 on Wednesday. The firm has a market cap of $1.42 billion, a PE ratio of -8.76 and a beta of 2.90. Redfin Co. has a 1 year low of $5.10 and a 1 year high of $15.29. The stock’s fifty day moving average price is $8.21 and its two-hundred day moving average price is $9.42.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. B. Riley lowered shares of Redfin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 10th. Citigroup decreased their price objective on shares of Redfin from $10.50 to $9.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. cut their target price on Redfin from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Redfin in a research report on Tuesday, March 11th. Finally, Susquehanna dropped their price target on Redfin from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.48.

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.