Renaissance Technologies LLC Lowers Holdings in RE/MAX Holdings, Inc. (NYSE:RMAX)

Renaissance Technologies LLC lowered its position in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 12.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 786,100 shares of the financial services provider’s stock after selling 109,800 shares during the quarter. Renaissance Technologies LLC owned 4.30% of RE/MAX worth $6,367,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of RMAX. Magnolia Group LLC increased its stake in shares of RE/MAX by 2.8% during the second quarter. Magnolia Group LLC now owns 3,124,152 shares of the financial services provider’s stock worth $25,306,000 after acquiring an additional 86,309 shares during the period. Vanguard Group Inc. increased its position in RE/MAX by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 1,121,789 shares of the financial services provider’s stock worth $9,838,000 after purchasing an additional 94,758 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of RE/MAX by 46.2% during 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 buying an additional 334,290 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of RE/MAX by 107.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider’s stock valued at $2,560,000 after buying an additional 151,036 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of RE/MAX by 17.2% in the first quarter. Russell Investments Group Ltd. now owns 227,103 shares of the financial services provider’s stock valued at $1,992,000 after buying an additional 33,351 shares in the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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

RE/MAX Stock Performance

RE/MAX stock opened at $12.80 on Thursday. The firm has a market capitalization of $241.41 million, a price-to-earnings ratio of -3.24 and a beta of 1.37. RE/MAX Holdings, Inc. has a fifty-two week low of $6.94 and a fifty-two week high of $14.72. The stock’s fifty day moving average is $10.64 and its two-hundred day moving average is $9.04.

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