American Century Companies Inc. raised its holdings in RE/MAX Holdings, Inc. (NYSE:RMAX) by 35.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,715 shares of the financial services provider’s stock after purchasing an additional 12,232 shares during the period. American Century Companies Inc. owned approximately 0.25% of RE/MAX worth $1,557,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Euclidean Technologies Management LLC boosted its holdings in shares of RE/MAX by 2.6% during the 2nd quarter. Euclidean Technologies Management LLC now owns 55,643 shares of the financial services provider’s stock valued at $1,855,000 after acquiring an additional 1,396 shares in the last quarter. GSA Capital Partners LLP bought a new position in RE/MAX during the second quarter worth $1,142,000. Handelsbanken Fonder AB bought a new stake in RE/MAX in the 2nd quarter valued at about $225,000. Victory Capital Management Inc. raised its position in shares of RE/MAX by 23.2% during the second quarter. Victory Capital Management Inc. now owns 144,317 shares of the financial services provider’s stock worth $4,810,000 after purchasing an additional 27,164 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in shares of RE/MAX by 4.0% in the second quarter. State of Alaska Department of Revenue now owns 13,079 shares of the financial services provider’s stock valued at $435,000 after buying an additional 507 shares in the last quarter. 89.61% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on RMAX. Zacks Investment Research upgraded shares of RE/MAX from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research report on Thursday, August 12th. Berenberg Bank assumed coverage on RE/MAX in a report on Wednesday, July 21st. They set a “buy” rating and a $41.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $40.20.
RE/MAX (NYSE:RMAX) last released its quarterly earnings results on Wednesday, August 4th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.33. RE/MAX had a return on equity of 40.36% and a net margin of 3.80%. The firm had revenue of $77.25 million for the quarter, compared to the consensus estimate of $76.23 million. During the same period last year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 48.0% on a year-over-year basis. On average, equities analysts expect that RE/MAX Holdings, Inc. will post 1.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 31st. Stockholders of record on Tuesday, August 17th were given a dividend of $0.23 per share. The ex-dividend date was Monday, August 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.92%. RE/MAX’s payout ratio is 62.59%.
RE/MAX Holdings, Inc engages in the provision of real estate franchise services through its subsidiaries. It operates through the following segments: Real Estate, Mortgage, Marketing Funds, and Other. The Real Estate segment inlcude operations of the company’s owned and independent global franchising operations under the RE/MAX brand name and technology and data subscription revenue.
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