State of Tennessee Treasury Department decreased its holdings in Re/Max Holdings Inc (NYSE:RMAX) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,698 shares of the financial services provider’s stock after selling 1,492 shares during the quarter. State of Tennessee Treasury Department owned 0.08% of Re/Max worth $664,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. WINTON GROUP Ltd purchased a new position in shares of Re/Max in the third quarter valued at approximately $2,202,000. Stevens Capital Management LP purchased a new position in shares of Re/Max in the third quarter valued at approximately $321,000. Granite Investment Partners LLC boosted its stake in shares of Re/Max by 6.3% in the third quarter. Granite Investment Partners LLC now owns 177,265 shares of the financial services provider’s stock valued at $11,265,000 after purchasing an additional 10,470 shares during the period. Pinebridge Investments L.P. boosted its stake in shares of Re/Max by 75.9% in the fourth quarter. Pinebridge Investments L.P. now owns 42,093 shares of the financial services provider’s stock valued at $2,041,000 after purchasing an additional 18,168 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in Re/Max by 62.8% in the third quarter. BNP Paribas Arbitrage SA now owns 9,489 shares of the financial services provider’s stock valued at $603,000 after acquiring an additional 3,660 shares in the last quarter.
RMAX stock traded down $1.15 during midday trading on Friday, reaching $59.20. 89,429 shares of the company were exchanged, compared to its average volume of 109,844. The company has a current ratio of 4.54, a quick ratio of 4.54 and a debt-to-equity ratio of 3.30. Re/Max Holdings Inc has a 1-year low of $43.85 and a 1-year high of $67.50. The stock has a market cap of $1,047.60, a P/E ratio of 32.35, a PEG ratio of 3.95 and a beta of 0.51.
Re/Max (NYSE:RMAX) last released its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. Re/Max had a net margin of 6.54% and a return on equity of 72.93%. The company had revenue of $49.50 million for the quarter, compared to analysts’ expectations of $48.46 million. equities research analysts predict that Re/Max Holdings Inc will post 2.14 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.35%. This is a boost from Re/Max’s previous quarterly dividend of $0.18. Re/Max’s dividend payout ratio (DPR) is presently 42.78%.
Several analysts recently weighed in on the stock. TheStreet raised shares of Re/Max from a “c-” rating to a “b-” rating in a report on Tuesday, April 3rd. Zacks Investment Research cut shares of Re/Max from a “hold” rating to a “sell” rating in a report on Thursday, March 15th. Compass Point raised shares of Re/Max from a “sell” rating to a “neutral” rating in a report on Friday, December 22nd. JPMorgan Chase raised their target price on shares of Re/Max from $51.00 to $59.00 and gave the company an “underweight” rating in a report on Wednesday, March 28th. Finally, Wedbush set a $60.00 target price on shares of Re/Max and gave the company a “hold” rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $60.25.
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Re/Max Company Profile
RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. The company was founded in 1973 and is headquartered in Denver, Colorado.
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