New York State Teachers Retirement System maintained its stake in RE/MAX Holdings, Inc. (NYSE:RMAX) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,230 shares of the financial services provider’s stock at the end of the first quarter. New York State Teachers Retirement System owned 0.06% of RE/MAX Holdings worth $668,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Bank of Montreal Can boosted its position in shares of RE/MAX Holdings by 108.2% in the first quarter. Bank of Montreal Can now owns 9,980 shares of the financial services provider’s stock valued at $593,000 after buying an additional 5,187 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of RE/MAX Holdings during the fourth quarter worth about $1,484,000. Great Lakes Advisors LLC raised its stake in shares of RE/MAX Holdings by 19.7% in the first quarter. Great Lakes Advisors LLC now owns 22,673 shares of the financial services provider’s stock valued at $1,348,000 after buying an additional 3,733 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of RE/MAX Holdings by 836,300.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 25,092 shares of the financial services provider’s stock valued at $1,492,000 after buying an additional 25,089 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in shares of RE/MAX Holdings by 127.3% in the first quarter. Glen Harbor Capital Management LLC now owns 1,700 shares of the financial services provider’s stock valued at $101,000 after buying an additional 952 shares during the last quarter.
RE/MAX Holdings, Inc. (NYSE:RMAX) opened at 60.15 on Friday. The stock’s 50 day moving average is $58.31 and its 200-day moving average is $57.04. The company has a market cap of $1.06 billion, a P/E ratio of 45.64 and a beta of 0.93. RE/MAX Holdings, Inc. has a 12-month low of $40.41 and a 12-month high of $66.10.
RE/MAX Holdings (NYSE:RMAX) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. The firm had revenue of $48.82 million during the quarter, compared to analysts’ expectations of $48.29 million. RE/MAX Holdings had a net margin of 12.45% and a return on equity of 79.94%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. Analysts predict that RE/MAX Holdings, Inc. will post $1.90 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Monday, August 14th. RE/MAX Holdings’s dividend payout ratio is 54.96%.
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A number of research analysts recently commented on the stock. Zacks Investment Research upgraded shares of RE/MAX Holdings from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Thursday, April 27th. Bank of America Corporation cut shares of RE/MAX Holdings from a “neutral” rating to an “underperform” rating and set a $56.00 target price for the company. in a report on Friday, June 30th. BidaskClub upgraded shares of RE/MAX Holdings from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Finally, Stephens lowered shares of RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 price objective for the company. in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $61.00.
In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $60.00, for a total transaction of $72,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.58% of the company’s stock.
RE/MAX Holdings Company 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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