Russell Investments Group Ltd. lowered its position in shares of Re/Max Holdings Inc (NYSE:RMAX) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 224,260 shares of the financial services provider’s stock after selling 9,700 shares during the quarter. Russell Investments Group Ltd. owned about 1.26% of Re/Max worth $6,894,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in RMAX. Advisory Services Network LLC grew its holdings in shares of Re/Max by 48.1% during the first quarter. Advisory Services Network LLC now owns 1,105 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 359 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Re/Max by 36.1% during the first quarter. Bank of Montreal Can now owns 1,969 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 522 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Re/Max by 363.3% during the first quarter. BNP Paribas Arbitrage SA now owns 3,271 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 2,565 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Re/Max during the first quarter valued at approximately $233,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Re/Max during the first quarter valued at approximately $235,000.
RMAX stock traded down $0.64 on Thursday, reaching $27.37. The company’s stock had a trading volume of 309 shares, compared to its average volume of 191,433. Re/Max Holdings Inc has a 52 week low of $24.67 and a 52 week high of $47.50. The company has a market capitalization of $499.50 million, a P/E ratio of 13.44 and a beta of 1.19. The firm has a fifty day moving average of $27.01 and a two-hundred day moving average of $33.58. The company has a debt-to-equity ratio of 3.07, a current ratio of 2.14 and a quick ratio of 2.14.
Re/Max (NYSE:RMAX) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. Re/Max had a return on equity of 73.12% and a net margin of 11.03%. The business had revenue of $71.40 million during the quarter, compared to analyst estimates of $72.26 million. During the same period in the prior year, the company posted $0.62 EPS. The business’s revenue for the quarter was up 31.5% compared to the same quarter last year. As a group, equities analysts expect that Re/Max Holdings Inc will post 1.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Tuesday, August 13th. Re/Max’s payout ratio is currently 41.58%.
A number of equities analysts recently issued reports on the company. Craig Hallum raised Re/Max from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, August 21st. ValuEngine raised Re/Max from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Compass Point lowered Re/Max from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $42.00 to $31.00 in a report on Tuesday, August 6th. Stephens increased their price objective on Re/Max from $31.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, Zacks Investment Research lowered Re/Max from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $39.60.
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.
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