Invenomic Capital Management LP Invests $1.47 Million in RE/MAX Holdings, Inc. $RMAX

Key Points

• Invenomic Capital Management LP has acquired a new stake in RE/MAX Holdings, purchasing 175,403 shares valued at approximately $1.47 million, representing about 0.92% of the company.
• Institutional investors now own 93.17% of RE/MAX's stock as several large investors, including Wells Fargo and GAMMA Investing, have recently increased their holdings.
• RE/MAX has seen its stock rated as a "hold" by Wall Street analysts, with a current consensus price target of $9.00, despite its recent performance showing a one-year range between $6.90 and $14.31.

Invenomic Capital Management LP acquired a new position in shares of RE/MAX Holdings, Inc. (NYSE:RMAX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 175,403 shares of the financial services provider's stock, valued at approximately $1,468,000. Invenomic Capital Management LP owned approximately 0.92% of RE/MAX at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RMAX. Nuveen LLC purchased a new stake in shares of RE/MAX during the first quarter valued at approximately $1,342,000. Martingale Asset Management L P increased its holdings in shares of RE/MAX by 351.7% during the first quarter. Martingale Asset Management L P now owns 46,714 shares of the financial services provider's stock valued at $391,000 after acquiring an additional 36,373 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of RE/MAX by 24.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 895,668 shares of the financial services provider's stock valued at $9,557,000 after buying an additional 178,599 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of RE/MAX by 913.8% during the first quarter. GAMMA Investing LLC now owns 15,978 shares of the financial services provider's stock valued at $134,000 after buying an additional 14,402 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of RE/MAX by 19.3% during the fourth quarter. Two Sigma Advisers LP now owns 17,300 shares of the financial services provider's stock valued at $185,000 after buying an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 93.17% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut RE/MAX from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, RE/MAX presently has an average rating of "Hold" and an average price target of $9.00.

RE/MAX Stock Up 4.9%

NYSE:RMAX traded up $0.45 on Thursday, hitting $9.80. The stock had a trading volume of 99,535 shares, compared to its average volume of 181,920. The stock has a market cap of $196.37 million, a price-to-earnings ratio of 20.84 and a beta of 1.17. The business's 50-day simple moving average is $8.58 and its two-hundred day simple moving average is $8.23. RE/MAX Holdings, Inc. has a 52-week low of $6.90 and a 52-week high of $14.31.

About RE/MAX

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.