Spark Investment Management LLC Has $2,096,000 Stake in RE/MAX Holdings, Inc. (RMAX)
Spark Investment Management LLC continued to hold its position in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,400 shares of the financial services provider’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in RE/MAX Holdings were worth $2,096,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of RMAX. BlackRock Inc. raised its position in shares of RE/MAX Holdings by 27,449.3% in the first quarter. BlackRock Inc. now owns 2,300,092 shares of the financial services provider’s stock worth $136,741,000 after buying an additional 2,291,743 shares during the period. Teachers Advisors LLC raised its position in shares of RE/MAX Holdings by 428.7% in the first quarter. Teachers Advisors LLC now owns 155,769 shares of the financial services provider’s stock worth $9,260,000 after buying an additional 126,307 shares during the period. Bank of New York Mellon Corp raised its position in shares of RE/MAX Holdings by 29.2% in the first quarter. Bank of New York Mellon Corp now owns 446,973 shares of the financial services provider’s stock worth $26,574,000 after buying an additional 101,083 shares during the period. Vanguard Group Inc. raised its position in shares of RE/MAX Holdings by 9.7% in the first quarter. Vanguard Group Inc. now owns 855,962 shares of the financial services provider’s stock worth $50,887,000 after buying an additional 75,595 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of RE/MAX Holdings by 10.7% in the first quarter. Dimensional Fund Advisors LP now owns 606,702 shares of the financial services provider’s stock worth $36,067,000 after buying an additional 58,603 shares during the period.
RE/MAX Holdings, Inc. (NYSE:RMAX) opened at 64.60 on Monday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 50.19 and a beta of 0.93. RE/MAX Holdings, Inc. has a 52 week low of $40.41 and a 52 week high of $66.10. The company has a 50-day moving average price of $56.86 and a 200-day moving average price of $56.70.
RE/MAX Holdings (NYSE:RMAX) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. RE/MAX Holdings had a net margin of 12.45% and a return on equity of 79.94%. The company had revenue of $48.82 million during the quarter, compared to the consensus estimate of $48.29 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. RE/MAX Holdings’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts anticipate that RE/MAX Holdings, Inc. will post $1.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th will be paid a $0.18 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.72 annualized dividend and a yield of 1.11%. RE/MAX Holdings’s dividend payout ratio is presently 54.96%.
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RMAX has been the subject of a number of research analyst reports. BidaskClub upgraded RE/MAX Holdings from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Zacks Investment Research upgraded RE/MAX Holdings from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Thursday, April 27th. Bank of America Corporation lowered RE/MAX Holdings from a “neutral” rating to an “underperform” rating and set a $56.00 target price for the company. in a research note on Friday, June 30th. Finally, Keefe, Bruyette & Woods set a $53.00 target price on RE/MAX Holdings and gave the stock a “hold” rating in a research note on Monday, April 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. RE/MAX Holdings has an average rating of “Hold” and a consensus price target of $58.33.
About RE/MAX Holdings
RE/MAX Holdings, Inc is a franchisor in the real estate industry, franchising real estate brokerages around the world under the RE/MAX brand and mortgage brokerages within the United States under the Motto Mortgage brand. The Company is a franchised business, with all of the RE/MAX branded brokerage office locations being operated by franchisees, including RE/MAX, LLC, which owns the RE/MAX brand, and sells franchises and franchising rights; Independent Regional Franchise Owner, which owns rights to sell brokerage franchises in a specified region; Franchisee (or Broker-Owner), which operates a RE/MAX-branded brokerage office, lists properties and recruits agents, and Agent (or Sales Associate), including branded independent contractors operating out of local franchise brokerage offices.
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