Thrivent Financial for Lutherans cut its stake in shares of Re/Max Holdings Inc (NYSE:RMAX) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,948 shares of the financial services provider’s stock after selling 1,690 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of Re/Max worth $328,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in RMAX. PNC Financial Services Group Inc. lifted its stake in Re/Max by 39.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,223 shares of the financial services provider’s stock valued at $47,000 after buying an additional 343 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of Re/Max by 51.8% in the 4th quarter. Penserra Capital Management LLC now owns 2,064 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 704 shares in the last quarter. Center for Financial Planning Inc. lifted its position in shares of Re/Max by 44.2% in the 1st quarter. Center for Financial Planning Inc. now owns 4,325 shares of the financial services provider’s stock valued at $95,000 after acquiring an additional 1,325 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Re/Max by 2,269.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 6,160 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 5,900 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in Re/Max by 13.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,108 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 842 shares in the last quarter. 98.15% of the stock is owned by institutional investors and hedge funds.
Shares of Re/Max stock opened at $30.74 on Wednesday. The firm has a market cap of $556.29 million, a price-to-earnings ratio of 23.65 and a beta of 1.58. The stock has a 50-day simple moving average of $29.01 and a 200-day simple moving average of $30.57. Re/Max Holdings Inc has a 52-week low of $14.40 and a 52-week high of $40.78. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.14 and a quick ratio of 1.14.
Re/Max (NYSE:RMAX) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.11. The firm had revenue of $70.30 million for the quarter, compared to analyst estimates of $70.26 million. Re/Max had a net margin of 8.27% and a return on equity of 49.97%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 earnings per share. As a group, equities research analysts predict that Re/Max Holdings Inc will post 1.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.22 per share. The ex-dividend date was Monday, May 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.86%. Re/Max’s dividend payout ratio is currently 45.60%.
Several analysts have recently commented on the company. Stephens raised Re/Max from an “equal weight” rating to an “overweight” rating and set a $38.00 target price for the company in a research report on Friday, March 13th. Compass Point upgraded Re/Max from a “neutral” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Friday, May 8th. They noted that the move was a valuation call. William Blair downgraded Re/Max from an “outperform” rating to a “market perform” rating in a report on Friday, May 8th. Zacks Investment Research upgraded shares of Re/Max from a “sell” rating to a “hold” rating in a report on Friday, May 8th. Finally, ValuEngine raised shares of Re/Max from a “sell” rating to a “hold” rating in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Re/Max has an average rating of “Buy” and an average price target of $37.17.
RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. It also provides real estate technology solutions.
Featured Story: What is the Federal Reserve?
Want to see what other hedge funds are holding RMAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Re/Max Holdings Inc (NYSE:RMAX).
Receive News & Ratings for Re/Max Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Re/Max and related companies with MarketBeat.com's FREE daily email newsletter.