Kayne Anderson Rudnick Investment Management LLC grew its holdings in Re/Max Holdings Inc (NYSE:RMAX) by 8.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,678,810 shares of the financial services provider’s stock after purchasing an additional 128,203 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.09% of Re/Max worth $64,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC bought a new stake in Re/Max during the 4th quarter worth approximately $64,000. Bank of Montreal Can increased its holdings in Re/Max by 36.1% during the 1st quarter. Bank of Montreal Can now owns 1,969 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 522 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Re/Max by 363.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,271 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 2,565 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Re/Max during the 4th quarter worth approximately $172,000. Finally, Metropolitan Life Insurance Co. NY increased its holdings in Re/Max by 307.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,013 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 4,536 shares in the last quarter. 99.57% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Re/Max from a “hold” rating to a “sell” rating in a report on Friday, June 7th. TheStreet lowered Re/Max from a “b-” rating to a “c+” rating in a report on Tuesday, May 28th. Finally, Craig Hallum lowered Re/Max from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Re/Max presently has an average rating of “Hold” and an average price target of $49.29.
In related news, Director Daniel J. Predovich sold 1,388 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $30.89, for a total value of $42,875.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David L. Liniger bought 90,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were bought at an average price of $32.34 per share, for a total transaction of $2,910,600.00. Following the transaction, the director now owns 263,911 shares of the company’s stock, valued at $8,534,881.74. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 446,380 shares of company stock valued at $13,990,354. 0.52% of the stock is currently owned by corporate insiders.
Shares of RMAX stock traded down $0.83 during trading on Friday, hitting $31.64. The company’s stock had a trading volume of 167,805 shares, compared to its average volume of 236,090. The firm has a market cap of $561.74 million, a PE ratio of 15.66 and a beta of 1.19. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 3.40. Re/Max Holdings Inc has a 52 week low of $27.84 and a 52 week high of $56.77.
Re/Max (NYSE:RMAX) last released its earnings results on Thursday, May 2nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The company had revenue of $71.18 million during the quarter, compared to analyst estimates of $69.51 million. Re/Max had a return on equity of 70.42% and a net margin of 11.45%. Re/Max’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. On average, research analysts expect that Re/Max Holdings Inc will post 1.97 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 15th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Tuesday, May 14th. Re/Max’s dividend payout ratio is presently 41.58%.
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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. It also provides real estate technology solutions.
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