RE/MAX Holdings, Inc. (NYSE:RMAX) is Magnolia Group LLC’s 7th Largest Position

Magnolia Group LLC boosted its stake in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 13.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,983,843 shares of the financial services provider’s stock after acquiring an additional 358,736 shares during the quarter. RE/MAX makes up 5.9% of Magnolia Group LLC’s investment portfolio, making the stock its 7th biggest position. Magnolia Group LLC owned about 0.16% of RE/MAX worth $39,775,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in RE/MAX during the third quarter worth about $35,000. SG Americas Securities LLC purchased a new position in shares of RE/MAX in the third quarter valued at approximately $121,000. WINTON GROUP Ltd purchased a new position in shares of RE/MAX in the third quarter valued at approximately $152,000. Harbor Capital Advisors Inc. raised its holdings in RE/MAX by 14.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 12,212 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 1,557 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in RE/MAX in the third quarter valued at approximately $200,000. Hedge funds and other institutional investors own 93.17% of the company’s stock.

Insider Buying and Selling at RE/MAX

In other news, major shareholder Adam K. Peterson purchased 54,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were acquired at an average cost of $7.64 per share, with a total value of $412,560.00. Following the transaction, the insider now owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Adam K. Peterson bought 54,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were purchased at an average cost of $7.64 per share, with a total value of $412,560.00. Following the completion of the transaction, the insider now directly owns 3,037,843 shares of the company’s stock, valued at $23,209,120.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Abigail C. Lee sold 4,500 shares of the 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 completion of the transaction, the executive vice president now directly owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The disclosure for this sale can be found here. 5.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of RE/MAX from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Wednesday, April 10th. Keefe, Bruyette & Woods cut their price objective 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 restated a “hold” rating on shares of RE/MAX in a research report on Friday, March 1st. Finally, StockNews.com lowered shares of RE/MAX from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, RE/MAX presently has a consensus rating of “Hold” and a consensus target price of $14.00.

RE/MAX Stock Performance

Shares of NYSE:RMAX traded down $0.17 during trading on Tuesday, reaching $7.02. 212,843 shares of the stock were exchanged, compared to its average volume of 287,727. RE/MAX Holdings, Inc. has a 12-month low of $6.94 and a 12-month high of $20.48. The firm has a market cap of $128.33 million, a price-to-earnings ratio of -1.86 and a beta of 1.40. The firm’s 50-day moving average price is $7.98 and its 200 day moving average price is $9.81.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. RE/MAX had a negative return on equity of 116.18% and a negative net margin of 21.19%. The company had revenue of $76.60 million for the quarter, compared to analyst estimates of $77.19 million. As a group, equities research analysts forecast that RE/MAX Holdings, Inc. will post 0.75 EPS for the current year.

RE/MAX Profile

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.