New York State Common Retirement Fund raised its position in shares of Re/Max Holdings Inc (NYSE:RMAX) by 86.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,367 shares of the financial services provider’s stock after buying an additional 25,271 shares during the period. New York State Common Retirement Fund’s holdings in Re/Max were worth $2,095,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in Re/Max by 36.1% in the first quarter. Bank of Montreal Can now owns 1,969 shares of the financial services provider’s stock valued at $77,000 after buying an additional 522 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Re/Max in the fourth quarter valued at $64,000. BNP Paribas Arbitrage SA raised its stake in Re/Max by 363.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,271 shares of the financial services provider’s stock valued at $126,000 after buying an additional 2,565 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Re/Max in the fourth quarter valued at $172,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in Re/Max by 307.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,013 shares of the financial services provider’s stock valued at $185,000 after buying an additional 4,536 shares in the last quarter. Institutional investors and hedge funds own 99.57% of the company’s stock.
RMAX opened at $32.47 on Friday. The company has a debt-to-equity ratio of 3.40, a quick ratio of 1.92 and a current ratio of 1.92. Re/Max Holdings Inc has a one year low of $27.84 and a one year high of $56.77. The stock has a market cap of $569.02 million, a PE ratio of 16.87 and a beta of 1.19.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Tuesday, May 14th. Re/Max’s dividend payout ratio (DPR) is currently 41.58%.
In other news, Director Gail A. Liniger bought 47,500 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were acquired at an average price of $32.03 per share, for a total transaction of $1,521,425.00. Following the completion of the transaction, the director now owns 165,004 shares of the company’s stock, valued at $5,285,078.12. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David L. Liniger bought 90,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average price of $32.34 per share, for a total transaction of $2,910,600.00. Following the transaction, the director now directly owns 263,911 shares of the company’s stock, valued at approximately $8,534,881.74. The disclosure for this purchase can be found here. Insiders have bought 446,380 shares of company stock worth $13,990,354 in the last quarter. Insiders own 0.52% of the company’s stock.
A number of analysts have weighed in on RMAX shares. TheStreet upgraded Re/Max from a “c” rating to a “b-” rating in a research note on Monday, March 11th. Morgan Stanley set a $39.00 price target on Re/Max and gave the company a “buy” rating in a research note on Monday, March 18th. Zacks Investment Research upgraded Re/Max from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Craig Hallum cut Re/Max from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $49.29.
RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. It also provides real estate technology solutions.
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