Magnolia Group LLC Acquires 358,736 Shares of RE/MAX Holdings, Inc. (NYSE:RMAX)

Magnolia Group LLC lifted its position in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,983,843 shares of the financial services provider’s stock after purchasing an additional 358,736 shares during the quarter. RE/MAX accounts for 5.9% of Magnolia Group LLC’s investment portfolio, making the stock its 7th largest holding. Magnolia Group LLC owned 16.36% of RE/MAX worth $39,775,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of RE/MAX during the 3rd quarter valued at about $35,000. SG Americas Securities LLC purchased a new position in RE/MAX during the third quarter valued at $121,000. WINTON GROUP Ltd purchased a new position in shares of RE/MAX in the third quarter worth $152,000. Harbor Capital Advisors Inc. lifted its holdings in RE/MAX by 14.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 12,212 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 1,557 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in RE/MAX in the third quarter worth about $200,000. 93.17% of the stock is owned by hedge funds and other institutional investors.

RE/MAX Stock Performance

Shares of RMAX stock traded down $0.17 during trading hours on Tuesday, reaching $7.02. The company had a trading volume of 212,843 shares, compared to its average volume of 287,727. The company has a market capitalization of $128.33 million, a price-to-earnings ratio of -1.86 and a beta of 1.40. RE/MAX Holdings, Inc. has a 12-month low of $6.94 and a 12-month high of $20.48. The stock has a fifty day moving average of $7.98 and a 200-day moving average of $9.81.

RE/MAX (NYSE:RMAX) last released its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $77.19 million. RE/MAX had a negative return on equity of 116.18% and a negative net margin of 21.19%. On average, analysts forecast that RE/MAX Holdings, Inc. will post 0.75 EPS for the current year.

Analysts Set New Price Targets

RMAX has been the subject of several research analyst reports. Morgan Stanley cut their target price on RE/MAX from $9.00 to $7.00 and set an “underweight” rating for the company in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods cut their price target on RE/MAX from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Wednesday, February 28th. Jonestrading restated a “hold” rating on shares of RE/MAX in a research note on Friday, March 1st. Finally, StockNews.com downgraded RE/MAX from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, RE/MAX has an average rating of “Hold” and an average price target of $14.00.

Insiders Place Their Bets

In related news, EVP Abigail C. Lee sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total value of $38,295.00. Following the completion of the sale, the executive vice president now owns 89,229 shares in the company, valued at $759,338.79. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other RE/MAX news, EVP Abigail C. Lee sold 4,500 shares of RE/MAX stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total value of $38,295.00. Following the completion of the sale, the executive vice president now directly owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Adam K. Peterson acquired 54,000 shares of the stock in a transaction dated Monday, March 18th. The shares were bought at an average cost of $7.64 per share, with a total value of $412,560.00. Following the completion of the purchase, the insider now directly owns 3,037,843 shares in the company, valued at $23,209,120.52. The disclosure for this purchase can be found here. Corporate insiders own 5.99% of the company’s stock.

RE/MAX Company Profile

RE/MAX Holdings, Inc operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. It operates through Real Estate, Mortgage, and Marketing Funds segments. The company offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand; and mortgage loan processing software and services under the wemlo brand.