Advisor Group Inc. trimmed its holdings in shares of Re/Max Holdings Inc (NYSE:RMAX) by 17.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,248 shares of the financial services provider’s stock after selling 269 shares during the period. Advisor Group Inc.’s holdings in Re/Max were worth $38,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Texas Permanent School Fund lifted its stake in shares of Re/Max by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 11,613 shares of the financial services provider’s stock valued at $357,000 after buying an additional 447 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Re/Max by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 373,885 shares of the financial services provider’s stock worth $11,499,000 after purchasing an additional 5,584 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Re/Max by 8.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 57,465 shares of the financial services provider’s stock worth $1,767,000 after purchasing an additional 4,471 shares in the last quarter. BlackRock Inc. lifted its stake in Re/Max by 5.7% in the 4th quarter. BlackRock Inc. now owns 2,705,898 shares of the financial services provider’s stock worth $83,207,000 after purchasing an additional 145,953 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Re/Max by 47.7% in the 4th quarter. New York State Common Retirement Fund now owns 29,096 shares of the financial services provider’s stock worth $895,000 after purchasing an additional 9,396 shares in the last quarter. Hedge funds and other institutional investors own 99.57% of the company’s stock.
Shares of NYSE RMAX opened at $40.96 on Friday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 5.40 and a current ratio of 5.40. The stock has a market cap of $723.47 million, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.85 and a beta of 0.88. Re/Max Holdings Inc has a 12-month low of $27.84 and a 12-month high of $58.25.
Re/Max (NYSE:RMAX) last announced its earnings results on Thursday, February 21st. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $50.84 million for the quarter, compared to analysts’ expectations of $50.56 million. Re/Max had a net margin of 12.72% and a return on equity of 84.43%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. As a group, sell-side analysts expect that Re/Max Holdings Inc will post 2.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.05%. This is a boost from Re/Max’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, March 5th. Re/Max’s dividend payout ratio is currently 41.58%.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Re/Max from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. TheStreet upgraded shares of Re/Max from a “c” rating to a “b-” rating in a research note on Monday, March 11th. Morgan Stanley set a $39.00 price target on shares of Re/Max and gave the stock a “buy” rating in a research note on Monday, March 18th. Compass Point assumed coverage on shares of Re/Max in a research note on Thursday, January 24th. They issued a “neutral” rating and a $40.00 price target on the stock. Finally, Bank of America cut shares of Re/Max to a “sell” rating and set a $56.00 price target on the stock. in a research note on Thursday, December 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $50.71.
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. It also provides real estate technology solutions.
Further Reading: Resistance Level
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