Arrowstreet Capital Limited Partnership reduced its holdings in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 14.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 63,518 shares of the financial services provider’s stock after selling 11,100 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.36% of RE/MAX Holdings worth $3,560,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. American Century Companies Inc. acquired a new stake in shares of RE/MAX Holdings in the 2nd quarter worth $4,529,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of RE/MAX Holdings by 2.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,549,517 shares of the financial services provider’s stock valued at $86,851,000 after purchasing an additional 37,840 shares during the period. BlackRock Inc. lifted its stake in shares of RE/MAX Holdings by 27,449.3% in the first quarter. BlackRock Inc. now owns 2,300,092 shares of the financial services provider’s stock valued at $136,741,000 after purchasing an additional 2,291,743 shares during the period. Prudential Financial Inc. lifted its stake in shares of RE/MAX Holdings by 0.6% in the first quarter. Prudential Financial Inc. now owns 32,530 shares of the financial services provider’s stock valued at $1,934,000 after purchasing an additional 200 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of RE/MAX Holdings by 8.6% in the first quarter. Renaissance Technologies LLC now owns 645,500 shares of the financial services provider’s stock valued at $38,375,000 after purchasing an additional 51,000 shares during the period.
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Several equities analysts have weighed in on RMAX shares. Craig Hallum started coverage on shares of RE/MAX Holdings in a report on Wednesday, August 30th. They set a “buy” rating and a $75.00 target price for the company. BidaskClub upgraded shares of RE/MAX Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of RE/MAX Holdings from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Finally, Piper Jaffray Companies began coverage on shares of RE/MAX Holdings in a report on Thursday, September 28th. They issued an “overweight” rating and a $69.00 target price for the company. Three research analysts have rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. RE/MAX Holdings presently has an average rating of “Hold” and a consensus price target of $64.67.
Shares of RE/MAX Holdings, Inc. (RMAX) traded up 0.22% on Friday, reaching $67.30. 3,800 shares of the company’s stock were exchanged. RE/MAX Holdings, Inc. has a 12 month low of $42.10 and a 12 month high of $67.45. The firm’s 50 day moving average price is $63.73 and its 200-day moving average price is $59.13. The company has a market capitalization of $1.19 billion, a P/E ratio of 51.06 and a beta of 0.93.
RE/MAX Holdings (NYSE:RMAX) last posted its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.06. RE/MAX Holdings had a return on equity of 79.94% and a net margin of 12.45%. The company had revenue of $48.82 million during the quarter, compared to analysts’ expectations of $48.29 million. During the same period in the prior year, the business earned $0.46 earnings per share. RE/MAX Holdings’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities analysts anticipate that RE/MAX Holdings, Inc. will post $1.90 EPS for the current year.
In related news, President Geoffrey D. Lewis sold 1,200 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $60.00, for a total value of $72,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.
About RE/MAX Holdings
RE/MAX Holdings, Inc is a franchisor in the real estate industry, franchising real estate brokerages around the world under the RE/MAX brand and mortgage brokerages within the United States under the Motto Mortgage brand. The Company is a franchised business, with all of the RE/MAX branded brokerage office locations being operated by franchisees, including RE/MAX, LLC, which owns the RE/MAX brand, and sells franchises and franchising rights; Independent Regional Franchise Owner, which owns rights to sell brokerage franchises in a specified region; Franchisee (or Broker-Owner), which operates a RE/MAX-branded brokerage office, lists properties and recruits agents, and Agent (or Sales Associate), including branded independent contractors operating out of local franchise brokerage offices.
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