Connor Clark & Lunn Investment Management Ltd. Sells 139,910 Shares of RE/MAX Holdings, Inc. (NYSE:RMAX)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 39.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 214,741 shares of the financial services provider’s stock after selling 139,910 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.14% of RE/MAX worth $2,291,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of RE/MAX by 145.2% during the third quarter. JPMorgan Chase & Co. now owns 120,247 shares of the financial services provider’s stock worth $1,497,000 after purchasing an additional 71,215 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of RE/MAX by 104.1% in the 4th quarter. Empowered Funds LLC now owns 116,595 shares of the financial services provider’s stock worth $1,244,000 after buying an additional 59,477 shares during the last quarter. State Street Corp raised its position in shares of RE/MAX by 6.6% during the 3rd quarter. State Street Corp now owns 435,652 shares of the financial services provider’s stock valued at $5,424,000 after buying an additional 27,131 shares in the last quarter. Barclays PLC lifted its holdings in shares of RE/MAX by 248.3% during the 3rd quarter. Barclays PLC now owns 25,933 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 18,488 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in RE/MAX by 27.2% in the fourth quarter. Bank of New York Mellon Corp now owns 85,505 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 18,300 shares in the last quarter. 93.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised RE/MAX from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 11th.

RE/MAX Stock Performance

Shares of RMAX opened at $8.81 on Wednesday. RE/MAX Holdings, Inc. has a fifty-two week low of $6.94 and a fifty-two week high of $14.31. The firm has a market cap of $167.32 million, a price-to-earnings ratio of 25.18 and a beta of 1.32. The firm has a 50 day moving average price of $9.62 and a 200-day moving average price of $11.10.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings results on Thursday, February 20th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.10). RE/MAX had a negative return on equity of 38.69% and a net margin of 2.32%. The business had revenue of $72.47 million during the quarter, compared to the consensus estimate of $74.34 million. As a group, equities research analysts predict that RE/MAX Holdings, Inc. will post 0.89 earnings per share for the current year.

Insider Activity at RE/MAX

In other news, major shareholder Adam K. Peterson purchased 13,636 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $10.45 per share, for a total transaction of $142,496.20. Following the acquisition, the insider now directly owns 3,221,131 shares of the company’s stock, valued at $33,660,818.95. This represents a 0.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 40,434 shares of company stock worth $410,729 in the last ninety days. 5.99% of the stock is owned by company 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.