Bank of New York Mellon Corp Acquires 18,300 Shares of RE/MAX Holdings, Inc. (NYSE:RMAX)

Bank of New York Mellon Corp grew its holdings in RE/MAX Holdings, Inc. (NYSE:RMAX) by 27.2% in the fourth quarter, Holdings Channel reports. The firm owned 85,505 shares of the financial services provider’s stock after buying an additional 18,300 shares during the quarter. Bank of New York Mellon Corp’s holdings in RE/MAX were worth $912,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RMAX. State Street Corp boosted its position in shares of RE/MAX by 6.6% during the third 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 during the last quarter. Geode Capital Management LLC boosted its holdings in shares of RE/MAX by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 415,791 shares of the financial services provider’s stock valued at $5,178,000 after acquiring an additional 7,688 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of RE/MAX by 145.2% in the third quarter. JPMorgan Chase & Co. now owns 120,247 shares of the financial services provider’s stock worth $1,497,000 after acquiring an additional 71,215 shares during the period. Empowered Funds LLC grew its stake in shares of RE/MAX by 104.1% in the fourth quarter. Empowered Funds LLC now owns 116,595 shares of the financial services provider’s stock worth $1,244,000 after acquiring an additional 59,477 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of RE/MAX by 23.3% during the third quarter. BNP Paribas Financial Markets now owns 54,101 shares of the financial services provider’s stock valued at $674,000 after purchasing an additional 10,207 shares during the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of RE/MAX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 19th.

Insider Transactions at RE/MAX

In related news, major shareholder Adam K. Peterson purchased 13,636 shares of RE/MAX stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $10.45 per share, for a total transaction of $142,496.20. Following the completion of the transaction, the insider now directly owns 3,221,131 shares in the company, valued at $33,660,818.95. This represents a 0.43 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have acquired 40,434 shares of company stock worth $410,729 in the last 90 days. 5.99% of the stock is currently owned by insiders.

RE/MAX Stock Performance

Shares of NYSE:RMAX opened at $8.89 on Wednesday. The stock’s 50-day simple moving average is $9.55 and its two-hundred day simple moving average is $11.03. The stock has a market capitalization of $168.76 million, a price-to-earnings ratio of 25.40 and a beta of 1.32. RE/MAX Holdings, Inc. has a 52-week low of $6.94 and a 52-week high of $14.31.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings data 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). The business had revenue of $72.47 million during the quarter, compared to the consensus estimate of $74.34 million. RE/MAX had a negative return on equity of 38.69% and a net margin of 2.32%. As a group, equities analysts forecast that RE/MAX Holdings, Inc. will post 0.89 earnings per share for the current fiscal year.

RE/MAX Company 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.