Northern Trust Corp grew its position in shares of Re/Max Holdings Inc (NYSE:RMAX) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 212,494 shares of the financial services provider’s stock after buying an additional 3,358 shares during the quarter. Northern Trust Corp owned approximately 1.20% of Re/Max worth $11,145,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc grew its stake in shares of Re/Max by 6.2% during the second quarter. Legal & General Group Plc now owns 35,050 shares of the financial services provider’s stock valued at $1,838,000 after purchasing an additional 2,034 shares during the last quarter. Confluence Investment Management LLC grew its stake in shares of Re/Max by 2.6% during the second quarter. Confluence Investment Management LLC now owns 98,826 shares of the financial services provider’s stock valued at $5,183,000 after purchasing an additional 2,463 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Re/Max by 6.9% during the second quarter. Russell Investments Group Ltd. now owns 41,809 shares of the financial services provider’s stock valued at $2,193,000 after purchasing an additional 2,700 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Re/Max by 1.5% during the second quarter. Wells Fargo & Company MN now owns 239,523 shares of the financial services provider’s stock valued at $12,564,000 after purchasing an additional 3,489 shares during the last quarter. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Re/Max during the first quarter valued at approximately $222,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.
RMAX opened at $32.63 on Friday. The company has a current ratio of 5.51, a quick ratio of 5.71 and a debt-to-equity ratio of 3.17. The firm has a market capitalization of $605.67 million, a price-to-earnings ratio of 17.45, a PEG ratio of 2.29 and a beta of 0.66. Re/Max Holdings Inc has a twelve month low of $32.23 and a twelve month high of $61.27.
Re/Max (NYSE:RMAX) last posted its earnings results on Thursday, November 1st. The financial services provider reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.06). The firm had revenue of $54.90 million during the quarter, compared to analyst estimates of $55.80 million. Re/Max had a return on equity of 90.23% and a net margin of 8.19%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. Research analysts predict that Re/Max Holdings Inc will post 2.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 14th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $0.80 annualized dividend and a yield of 2.45%. Re/Max’s dividend payout ratio (DPR) is presently 42.78%.
A number of equities analysts have issued reports on RMAX shares. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Re/Max in a research note on Friday, August 3rd. Zacks Investment Research raised shares of Re/Max from a “hold” rating to a “strong-buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, July 24th. Stephens reduced their price objective on shares of Re/Max from $60.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, November 5th. TheStreet cut shares of Re/Max from a “b-” rating to a “c+” rating in a research note on Friday, October 12th. Finally, Craig Hallum set a $50.00 price objective on shares of Re/Max and gave the company a “buy” rating in a research note on Monday, November 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $56.50.
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RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. The company was founded in 1973 and is headquartered in Denver, Colorado.
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