Magnolia Group LLC Sells 201,555 Shares of RE/MAX Holdings, Inc. $RMAX

Magnolia Group LLC cut its position in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,665,643 shares of the financial services provider’s stock after selling 201,555 shares during the quarter. RE/MAX makes up 2.9% of Magnolia Group LLC’s investment portfolio, making the stock its 9th largest position. Magnolia Group LLC owned about 13.24% of RE/MAX worth $15,354,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RMAX. Strs Ohio purchased a new position in shares of RE/MAX during the first quarter valued at approximately $30,000. Harbor Capital Advisors Inc. grew its stake in RE/MAX by 20.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 7,698 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 1,317 shares during the period. IFC & Insurance Marketing Inc. purchased a new stake in RE/MAX in the 4th quarter worth approximately $76,000. Sei Investments Co. acquired a new position in RE/MAX in the 2nd quarter valued at $86,000. Finally, Cambiar Investors LLC acquired a new position in RE/MAX in the 4th quarter valued at $98,000. Institutional investors and hedge funds own 93.17% of the company’s stock.

RE/MAX Stock Performance

RMAX opened at $11.15 on Friday. The company’s 50 day simple moving average is $9.55 and its 200 day simple moving average is $7.84. RE/MAX Holdings, Inc. has a 1 year low of $5.46 and a 1 year high of $11.62. The stock has a market capitalization of $236.71 million, a PE ratio of 1,115.00 and a beta of 1.82.

RE/MAX (NYSE:RMAX) last released its earnings results on Friday, May 8th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The company had revenue of $53.36 million during the quarter, compared to analysts’ expectations of $73.21 million. RE/MAX had a net margin of 0.13% and a negative return on equity of 90.29%. As a group, sell-side analysts expect that RE/MAX Holdings, Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RMAX shares. JonesTrading upgraded RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 price objective on the stock in a report on Monday, April 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of RE/MAX in a research note on Monday, April 27th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.80.

Insider Buying and Selling at RE/MAX

In other news, insider Adam K. Peterson sold 632,091 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $9.84, for a total transaction of $6,219,775.44. Following the completion of the sale, the insider directly owned 1,691,727 shares of the company’s stock, valued at $16,646,593.68. The trade was a 27.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 1,341,378 shares of company stock valued at $14,028,770. 6.80% of the stock is owned by company insiders.

RE/MAX Profile

RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.

Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.