RE/MAX Holdings, Inc. (NYSE:RMAX) Stake Raised by Vanguard Group Inc.
Vanguard Group Inc. raised its stake in RE/MAX Holdings, Inc. (NYSE:RMAX) by 9.7% during the first quarter, Holdings Channel reports. The institutional investor owned 855,962 shares of the financial services provider’s stock after buying an additional 75,595 shares during the period. Vanguard Group Inc.’s holdings in RE/MAX Holdings were worth $50,887,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in RMAX. Menta Capital LLC increased its stake in shares of RE/MAX Holdings by 117.7% in the first quarter. Menta Capital LLC now owns 23,041 shares of the financial services provider’s stock valued at $1,370,000 after buying an additional 12,455 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of RE/MAX Holdings by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 41,962 shares of the financial services provider’s stock valued at $2,495,000 after buying an additional 500 shares in the last quarter. Ngam Advisors L.P. increased its stake in shares of RE/MAX Holdings by 62.9% in the first quarter. Ngam Advisors L.P. now owns 122,221 shares of the financial services provider’s stock valued at $7,266,000 after buying an additional 47,174 shares in the last quarter. Legal & General Group Plc increased its stake in shares of RE/MAX Holdings by 0.9% in the first quarter. Legal & General Group Plc now owns 29,115 shares of the financial services provider’s stock valued at $1,729,000 after buying an additional 260 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of RE/MAX Holdings by 67.6% in the first quarter. California Public Employees Retirement System now owns 12,400 shares of the financial services provider’s stock valued at $737,000 after buying an additional 5,000 shares in the last quarter.
RE/MAX Holdings, Inc. (NYSE:RMAX) opened at 61.90 on Thursday. RE/MAX Holdings, Inc. has a 52-week low of $40.41 and a 52-week high of $66.10. The company has a market capitalization of $1.10 billion, a P/E ratio of 46.97 and a beta of 0.93. The firm has a 50-day moving average price of $58.01 and a 200 day moving average price of $56.97.
RE/MAX Holdings (NYSE:RMAX) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.06. RE/MAX Holdings had a return on equity of 79.94% and a net margin of 12.45%. The firm had revenue of $48.82 million during the quarter, compared to analyst estimates of $48.29 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue was up 12.5% compared to the same quarter last year. On average, analysts predict that RE/MAX Holdings, Inc. will post $1.90 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Monday, August 14th. RE/MAX Holdings’s dividend payout ratio (DPR) is currently 54.96%.
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Several brokerages recently weighed in on RMAX. Zacks Investment Research downgraded RE/MAX Holdings from a “buy” rating to a “hold” rating in a research report on Thursday. Stephens downgraded RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 price objective for the company. in a research report on Monday. BidaskClub upgraded RE/MAX Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Bank of America Corporation downgraded RE/MAX Holdings from a “neutral” rating to an “underperform” rating and set a $56.00 price objective for the company. in a research report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $61.00.
In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of RE/MAX Holdings stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $60.00, for a total transaction of $72,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.
RE/MAX Holdings Company Profile
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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