Summit Global Investments cut its stake in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,200 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Summit Global Investments owned approximately 0.05% of RE/MAX Holdings worth $516,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of RMAX. Teachers Advisors LLC increased its position in shares of RE/MAX Holdings by 5.4% during the fourth quarter. Teachers Advisors LLC now owns 29,462 shares of the financial services provider’s stock worth $1,650,000 after acquiring an additional 1,503 shares during the period. Bank of Montreal Can increased its position in shares of RE/MAX Holdings by 108.2% during the first quarter. Bank of Montreal Can now owns 9,980 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 5,187 shares during the period. Louisiana State Employees Retirement System increased its position in shares of RE/MAX Holdings by 1.4% during the first quarter. Louisiana State Employees Retirement System now owns 7,200 shares of the financial services provider’s stock worth $428,000 after acquiring an additional 100 shares during the period. State of Alaska Department of Revenue increased its position in shares of RE/MAX Holdings by 2.1% during the first quarter. State of Alaska Department of Revenue now owns 1,950 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 40 shares during the period. Finally, Glen Harbor Capital Management LLC increased its position in shares of RE/MAX Holdings by 127.3% during the first quarter. Glen Harbor Capital Management LLC now owns 1,700 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 952 shares during the period.
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A number of equities analysts have recently commented on RMAX shares. Craig Hallum started coverage on shares of RE/MAX Holdings in a research report on Wednesday, August 30th. They set a “buy” rating and a $75.00 target price on the stock. BidaskClub lowered shares of RE/MAX Holdings from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 17th. Zacks Investment Research raised shares of RE/MAX Holdings from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Wednesday, August 9th. Finally, Stephens lowered shares of RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 target price on the stock. in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. RE/MAX Holdings presently has a consensus rating of “Hold” and a consensus price target of $63.80.
In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $60.00, for a total transaction of $72,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by corporate insiders.
RE/MAX Holdings, Inc. (NYSE:RMAX) opened at 61.00 on Wednesday. RE/MAX Holdings, Inc. has a one year low of $40.99 and a one year high of $66.10. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 46.28 and a beta of 0.92. The company’s 50-day moving average is $60.16 and its 200 day moving average is $57.47.
RE/MAX Holdings (NYSE:RMAX) last issued its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.54 EPS for the quarter, topping 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 firm had revenue of $48.82 million for the quarter, compared to analyst estimates of $48.29 million. During the same period in the prior year, the business posted $0.46 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts expect that RE/MAX Holdings, Inc. will post $1.90 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.72 dividend on an annualized basis and a yield of 1.17%. RE/MAX Holdings’s dividend payout ratio (DPR) is presently 54.96%.
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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