45,484 Shares in RE/MAX Holdings, Inc. (NYSE:RMAX) Acquired by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. acquired a new position in RE/MAX Holdings, Inc. (NYSE:RMAX) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 45,484 shares of the financial services provider’s stock, valued at approximately $606,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its holdings in RE/MAX by 134.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,433 shares of the financial services provider’s stock worth $86,000 after buying an additional 3,693 shares during the period. SG Americas Securities LLC lifted its stake in RE/MAX by 22.8% in the 4th quarter. SG Americas Securities LLC now owns 11,523 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 2,136 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in RE/MAX by 14.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 12,212 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 1,557 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in RE/MAX in the 4th quarter worth approximately $396,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in RE/MAX in the 3rd quarter worth approximately $347,000. 93.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of RE/MAX from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods lowered their target price on shares of RE/MAX from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 28th. StockNews.com cut shares of RE/MAX from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Jonestrading reiterated a “hold” rating on shares of RE/MAX in a research note on Friday, March 1st. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, RE/MAX has an average rating of “Hold” and an average target price of $14.00.

RE/MAX Stock Performance

RE/MAX stock opened at $7.10 on Wednesday. The firm’s fifty day moving average price is $8.45 and its 200-day moving average price is $10.13. RE/MAX Holdings, Inc. has a fifty-two week low of $7.00 and a fifty-two week high of $20.48.

RE/MAX (NYSE:RMAX) last released its earnings results on Thursday, February 22nd. The financial services provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. RE/MAX had a negative net margin of 21.19% and a negative return on equity of 116.18%. The company had revenue of $76.60 million for the quarter, compared to analyst estimates of $77.19 million. On average, equities analysts forecast that RE/MAX Holdings, Inc. will post 0.75 earnings per share for the current year.

Insider Activity at RE/MAX

In other RE/MAX news, EVP Abigail C. Lee sold 4,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total value of $38,295.00. Following the sale, the executive vice president now owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other RE/MAX news, EVP Abigail C. Lee sold 4,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total value of $38,295.00. Following the sale, the executive vice president now owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Adam K. Peterson purchased 54,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was purchased at an average cost of $7.64 per share, for a total transaction of $412,560.00. Following the acquisition, the insider now owns 3,037,843 shares in the company, valued at $23,209,120.52. The disclosure for this purchase can be found here. 3.37% of the stock is owned by insiders.

About RE/MAX

RE/MAX Holdings, Inc operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. It operates through Real Estate, Mortgage, and Marketing Funds segments. The company offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand; and mortgage loan processing software and services under the wemlo brand.