Seven Six Capital Management LLC acquired a new stake in RE/MAX Holdings, Inc. (NYSE:RMAX – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 224,002 shares of the financial services provider’s stock, valued at approximately $1,290,000. RE/MAX comprises about 1.4% of Seven Six Capital Management LLC’s holdings, making the stock its 21st biggest holding.
A number of other institutional investors have also added to or reduced their stakes in RMAX. Dynamic Technology Lab Private Ltd acquired a new stake in RE/MAX in the first quarter valued at $129,000. Empowered Funds LLC increased its stake in shares of RE/MAX by 7.1% during the 1st quarter. Empowered Funds LLC now owns 124,913 shares of the financial services provider’s stock worth $1,046,000 after purchasing an additional 8,318 shares during the last quarter. Jane Street Group LLC increased its stake in shares of RE/MAX by 388.7% during the 1st quarter. Jane Street Group LLC now owns 57,213 shares of the financial services provider’s stock worth $479,000 after purchasing an additional 45,506 shares during the last quarter. Strs Ohio bought a new stake in shares of RE/MAX in the 1st quarter valued at about $30,000. Finally, Geode Capital Management LLC grew its holdings in RE/MAX by 2.8% during the second quarter. Geode Capital Management LLC now owns 437,340 shares of the financial services provider’s stock worth $3,578,000 after purchasing an additional 11,760 shares during the period. 93.17% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have commented on RMAX. Weiss Ratings reiterated a “sell (d)” rating on shares of RE/MAX in a report on Friday, July 24th. JonesTrading upgraded shares of RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 price target on the stock in a research note on Monday, April 27th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.80.
RE/MAX Trading Down 4.2%
Shares of RMAX stock opened at $9.26 on Thursday. The stock has a market cap of $196.57 million, a P/E ratio of 925.90 and a beta of 1.82. RE/MAX Holdings, Inc. has a 1 year low of $5.46 and a 1 year high of $11.81. The stock has a 50 day simple moving average of $9.96 and a 200 day simple moving average of $8.23.
RE/MAX (NYSE:RMAX – Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). RE/MAX had a negative return on equity of 90.29% and a net margin of 0.13%.The company had revenue of $53.36 million during the quarter, compared to the consensus estimate of $73.21 million.
About RE/MAX
RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.
Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.
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