State Street Corp boosted its position in RE/MAX Holdings, Inc. (NYSE:RMAX) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 419,864 shares of the financial services provider’s stock after purchasing an additional 18,611 shares during the period. State Street Corp owned approximately 2.37% of RE/MAX Holdings worth $23,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Stifel Financial Corp lifted its stake in RE/MAX Holdings by 0.3% in the second quarter. Stifel Financial Corp now owns 23,419 shares of the financial services provider’s stock worth $1,313,000 after purchasing an additional 61 shares during the last quarter. Voya Investment Management LLC lifted its stake in RE/MAX Holdings by 24.6% in the second quarter. Voya Investment Management LLC now owns 18,855 shares of the financial services provider’s stock worth $1,057,000 after purchasing an additional 3,726 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in RE/MAX Holdings by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 628,144 shares of the financial services provider’s stock worth $35,209,000 after purchasing an additional 21,442 shares during the last quarter. Citadel Advisors LLC bought a new stake in RE/MAX Holdings in the second quarter worth about $480,000. Finally, Hancock Holding Co. lifted its stake in RE/MAX Holdings by 3.7% in the second quarter. Hancock Holding Co. now owns 22,333 shares of the financial services provider’s stock worth $1,252,000 after purchasing an additional 794 shares during the last quarter.
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RMAX has been the subject of several research analyst reports. BidaskClub downgraded shares of RE/MAX Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Zacks Investment Research raised shares of RE/MAX Holdings from a “sell” rating to a “hold” rating in a research note on Saturday, July 29th. Stephens downgraded shares of RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 price target for the company. in a research note on Monday, August 7th. Craig Hallum initiated coverage on shares of RE/MAX Holdings in a research note on Wednesday, August 30th. They set a “buy” rating and a $75.00 price target for the company. Finally, Piper Jaffray Companies initiated coverage on shares of RE/MAX Holdings in a research note on Thursday, September 28th. They set an “overweight” rating and a $69.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $64.67.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Tuesday, November 14th. RE/MAX Holdings’s dividend payout ratio (DPR) is 54.96%.
RE/MAX Holdings 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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