RE/MAX Holdings, Inc. (NYSE:RMAX) Stock Position Increased by Confluence Investment Management LLC

Confluence Investment Management LLC grew its position in RE/MAX Holdings, Inc. (NYSE:RMAX) by 2.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 510,253 shares of the financial services provider’s stock after purchasing an additional 13,140 shares during the period. Confluence Investment Management LLC owned approximately 2.75% of RE/MAX worth $20,099,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RMAX. BlackRock Inc. increased its holdings in shares of RE/MAX by 8.9% during the fourth quarter. BlackRock Inc. now owns 3,480,799 shares of the financial services provider’s stock valued at $126,458,000 after purchasing an additional 285,920 shares during the period. Assenagon Asset Management S.A. increased its stake in RE/MAX by 330.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 154,418 shares of the financial services provider’s stock valued at $5,610,000 after buying an additional 118,534 shares during the period. Morgan Stanley raised its position in shares of RE/MAX by 168.1% during the 4th quarter. Morgan Stanley now owns 150,237 shares of the financial services provider’s stock worth $5,459,000 after buying an additional 94,190 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of RE/MAX by 59.0% in the 4th quarter. Nuveen Asset Management LLC now owns 130,295 shares of the financial services provider’s stock worth $4,733,000 after acquiring an additional 48,332 shares during the period. Finally, River & Mercantile Asset Management LLP boosted its holdings in shares of RE/MAX by 158.1% in the fourth quarter. River & Mercantile Asset Management LLP now owns 126,400 shares of the financial services provider’s stock valued at $4,546,000 after acquiring an additional 77,430 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

In related news, CAO Brett A. Ritchie sold 2,670 shares of the company’s stock in a transaction that occurred on Monday, January 25th. The shares were sold at an average price of $40.00, for a total value of $106,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 3,204 shares of company stock worth $128,507. 2.67% of the stock is currently owned by insiders.

Shares of RMAX traded down $0.81 during trading hours on Thursday, hitting $40.66. 50,812 shares of the company were exchanged, compared to its average volume of 97,026. The company has a debt-to-equity ratio of 1.98, a current ratio of 2.24 and a quick ratio of 2.24. The company has a market capitalization of $755.30 million, a PE ratio of 58.93 and a beta of 1.55. The firm has a fifty day simple moving average of $40.20 and a 200-day simple moving average of $36.45. RE/MAX Holdings, Inc. has a one year low of $20.28 and a one year high of $43.85.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, February 25th. The financial services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.33 by $0.14. The business had revenue of $72.45 million during the quarter, compared to the consensus estimate of $70.49 million. RE/MAX had a return on equity of 44.11% and a net margin of 4.80%. Sell-side analysts expect that RE/MAX Holdings, Inc. will post 1.54 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 17th. Shareholders of record on Wednesday, March 3rd were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.26%. This is a boost from RE/MAX’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, March 2nd. RE/MAX’s dividend payout ratio (DPR) is presently 47.67%.

RMAX has been the subject of a number of research analyst reports. Morgan Stanley upped their target price on RE/MAX from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 5th. Zacks Investment Research downgraded RE/MAX from a “hold” rating to a “sell” rating in a research note on Friday, March 5th. Compass Point cut RE/MAX from a “buy” rating to a “neutral” rating and set a $44.00 target price for the company. in a research note on Monday, March 1st. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upgraded shares of RE/MAX from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $27.00 to $36.00 in a research report on Monday, December 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $40.00.

About RE/MAX

RE/MAX Holdings, Inc is an investment company, which operates through its subsidiaries, engages in the provision of real estate franchise services. Its brands include RE/MAX real estate brokerage services and Motto Mortgage brokerage franchises. The firm operates through the following segments: Real Estate, Mortgage, Marketing Funds, and Other.

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Institutional Ownership by Quarter for RE/MAX (NYSE:RMAX)

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