D. E. Shaw & Co. Inc. Trims Holdings in RE/MAX Holdings, Inc. (NYSE:RMAX)

D. E. Shaw & Co. Inc. decreased its position in RE/MAX Holdings, Inc. (NYSE:RMAX) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 651,781 shares of the financial services provider’s stock after selling 52,740 shares during the period. D. E. Shaw & Co. Inc. owned approximately 3.45% of RE/MAX worth $6,955,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Magnolia Group LLC lifted its stake in RE/MAX by 2.2% during the 4th quarter. Magnolia Group LLC now owns 3,221,131 shares of the financial services provider’s stock valued at $34,369,000 after acquiring an additional 70,457 shares during the period. Capital World Investors lifted its stake in shares of RE/MAX by 736.3% during the 4th quarter. Capital World Investors now owns 1,500,000 shares of the financial services provider’s stock valued at $16,005,000 after buying an additional 1,320,628 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of RE/MAX by 24.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 895,668 shares of the financial services provider’s stock valued at $9,557,000 after buying an additional 178,599 shares in the last quarter. Renaissance Technologies LLC lifted its stake in RE/MAX by 2.5% in the 4th quarter. Renaissance Technologies LLC now owns 808,369 shares of the financial services provider’s stock worth $8,625,000 after purchasing an additional 19,969 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in RE/MAX by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 423,443 shares of the financial services provider’s stock worth $4,519,000 after purchasing an additional 7,652 shares in the last quarter. Institutional investors own 93.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RMAX. StockNews.com upgraded shares of RE/MAX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Keefe, Bruyette & Woods dropped their target price on shares of RE/MAX from $10.00 to $9.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th.

RE/MAX Stock Performance

NYSE RMAX opened at $7.79 on Friday. The firm’s 50 day moving average price is $7.98 and its 200-day moving average price is $9.88. RE/MAX Holdings, Inc. has a 52-week low of $6.90 and a 52-week high of $14.31. The company has a market cap of $147.88 million, a PE ratio of 22.26 and a beta of 1.20.

RE/MAX (NYSE:RMAX) last posted its earnings results on Thursday, February 20th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. The firm had revenue of $72.47 million for the quarter, compared to analysts’ expectations of $74.34 million. On average, analysts forecast that RE/MAX Holdings, Inc. will post 0.89 earnings per share for the current fiscal year.

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.