River Global Investors LLP Raises Stock Holdings in RE/MAX Holdings, Inc. (NYSE:RMAX)

River Global Investors LLP raised its holdings in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 66.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,976 shares of the financial services provider’s stock after purchasing an additional 43,958 shares during the quarter. River Global Investors LLP owned 0.60% of RE/MAX worth $1,465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new position in RE/MAX in the third quarter worth about $5,792,000. Magnolia Group LLC increased its holdings in shares of RE/MAX by 13.7% in the 4th quarter. Magnolia Group LLC now owns 2,983,843 shares of the financial services provider’s stock valued at $39,775,000 after acquiring an additional 358,736 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of RE/MAX during the 4th quarter valued at approximately $2,583,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of RE/MAX by 195.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,170 shares of the financial services provider’s stock valued at $1,555,000 after acquiring an additional 79,476 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in RE/MAX during the fourth quarter worth $606,000. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other RE/MAX news, EVP Abigail C. Lee sold 4,500 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total transaction of $38,295.00. Following the sale, the executive vice president now directly owns 89,229 shares in the company, valued at approximately $759,338.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Abigail C. Lee sold 4,500 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Adam K. Peterson acquired 54,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was purchased at an average price of $7.64 per share, with a total value of $412,560.00. Following the acquisition, the insider now owns 3,037,843 shares of the company’s stock, valued at $23,209,120.52. The disclosure for this purchase can be found here. Corporate insiders own 5.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RMAX shares. Keefe, Bruyette & Woods dropped 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 report on Wednesday, February 28th. Jonestrading reissued a “hold” rating on shares of RE/MAX in a report on Friday, March 1st. StockNews.com lowered RE/MAX from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, Morgan Stanley cut their price target on RE/MAX from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Wednesday, April 10th. 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, the stock has a consensus rating of “Hold” and an average price target of $14.00.

RE/MAX Stock Performance

Shares of NYSE:RMAX traded up $0.55 during trading hours on Friday, hitting $7.71. The stock had a trading volume of 628,341 shares, compared to its average volume of 267,027. The stock’s fifty day simple moving average is $7.85 and its 200 day simple moving average is $9.71. The firm has a market capitalization of $140.94 million, a price-to-earnings ratio of -1.95 and a beta of 1.42. RE/MAX Holdings, Inc. has a 1-year low of $6.94 and a 1-year high of $20.48.

RE/MAX (NYSE:RMAX) last posted 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. The firm had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $77.19 million. RE/MAX had a negative return on equity of 62.93% and a negative net margin of 22.51%. As a group, research analysts anticipate that RE/MAX Holdings, Inc. will post 0.75 EPS for the current 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.