Bank of New York Mellon Corp Boosts Stock Holdings in RE/MAX Holdings, Inc. (NYSE:RMAX)

Bank of New York Mellon Corp grew its holdings in RE/MAX Holdings, Inc. (NYSE:RMAX) by 23.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,119 shares of the financial services provider’s stock after purchasing an additional 15,479 shares during the period. Bank of New York Mellon Corp owned approximately 0.45% of RE/MAX worth $665,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Blair William & Co. IL boosted its stake in RE/MAX by 767.5% in the 1st quarter. Blair William & Co. IL now owns 109,611 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 96,976 shares during the period. Kingsview Wealth Management LLC purchased a new stake in shares of RE/MAX in the first quarter worth $572,000. Vanguard Group Inc. boosted its stake in RE/MAX by 9.2% during the first quarter. Vanguard Group Inc. now owns 1,121,789 shares of the financial services provider’s stock valued at $9,838,000 after buying an additional 94,758 shares during the period. Jacobs Levy Equity Management Inc. grew its position in RE/MAX by 107.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider’s stock worth $2,560,000 after buying an additional 151,036 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in RE/MAX by 46.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,057,780 shares of the financial services provider’s stock worth $14,100,000 after acquiring an additional 334,290 shares during the last quarter. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RE/MAX

In other news, major shareholder Adam K. Peterson purchased 26,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were bought at an average cost of $8.03 per share, for a total transaction of $208,780.00. Following the completion of the transaction, the insider now directly owns 3,150,152 shares of the company’s stock, valued at approximately $25,295,720.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other RE/MAX news, major shareholder Adam K. Peterson bought 23,500 shares of the stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $8.27 per share, for a total transaction of $194,345.00. Following the completion of the acquisition, the insider now owns 3,124,152 shares of the company’s stock, valued at $25,836,737.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Adam K. Peterson purchased 26,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was bought at an average price of $8.03 per share, for a total transaction of $208,780.00. Following the purchase, the insider now directly owns 3,150,152 shares in the company, valued at $25,295,720.56. The disclosure for this purchase can be found here. In the last quarter, insiders bought 51,680 shares of company stock valued at $420,630. Corporate insiders own 5.99% of the company’s stock.

Analysts Set New Price Targets

RMAX has been the subject of a number of research analyst reports. StockNews.com upgraded RE/MAX from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Stephens raised their target price on shares of RE/MAX from $9.00 to $10.50 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.90.

RE/MAX Trading Down 3.7 %

Shares of NYSE RMAX opened at $12.30 on Monday. The firm has a fifty day simple moving average of $10.48 and a two-hundred day simple moving average of $8.96. The firm has a market capitalization of $224.79 million, a PE ratio of -3.11 and a beta of 1.37. RE/MAX Holdings, Inc. has a 12 month low of $6.94 and a 12 month high of $14.97.

RE/MAX (NYSE:RMAX) last released its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $78.45 million during the quarter, compared to the consensus estimate of $78.16 million. RE/MAX had a negative net margin of 22.26% and a negative return on equity of 35.12%. On average, sell-side analysts predict that RE/MAX Holdings, Inc. will post 0.75 earnings per share 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.