Connor Clark & Lunn Investment Management Ltd. Has $1.15 Million Stock Position in RE/MAX Holdings, Inc. $RMAX

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its holdings in RE/MAX Holdings, Inc. by 35.9%, now owning 137,554 shares valued at approximately $1.15 million.
• Several other institutional investors, including Charles Schwab and Meeder Asset Management, adjusted their stakes in RE/MAX, reflecting significant market interest in the company.
• Analyst ratings reports indicate a drop in price targets for RE/MAX, with Keefe, Bruyette & Woods reducing their target from $10 to $9 and changing the rating to "market perform."

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in RE/MAX Holdings, Inc. (NYSE:RMAX - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 137,554 shares of the financial services provider's stock after selling 77,187 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.72% of RE/MAX worth $1,151,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in RMAX. State of Wyoming acquired a new stake in shares of RE/MAX in the fourth quarter valued at about $91,000. Wells Fargo & Company MN grew its position in shares of RE/MAX by 27.5% in the fourth quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider's stock valued at $113,000 after purchasing an additional 2,286 shares during the last quarter. GAMMA Investing LLC grew its position in shares of RE/MAX by 913.8% in the first quarter. GAMMA Investing LLC now owns 15,978 shares of the financial services provider's stock valued at $134,000 after purchasing an additional 14,402 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of RE/MAX in the first quarter valued at about $148,000. Finally, Quantinno Capital Management LP grew its position in RE/MAX by 36.2% during the fourth quarter. Quantinno Capital Management LP now owns 14,807 shares of the financial services provider's stock worth $158,000 after buying an additional 3,934 shares in the last quarter. 93.17% of the stock is owned by institutional investors and hedge funds.

RE/MAX Trading Down 2.2%

RMAX traded down $0.1850 on Thursday, hitting $8.3750. 241,431 shares of the stock traded hands, compared to its average volume of 295,371. RE/MAX Holdings, Inc. has a 52 week low of $6.90 and a 52 week high of $14.31. The firm has a market capitalization of $167.75 million, a PE ratio of 17.82 and a beta of 1.17. The business has a fifty day moving average price of $8.27 and a two-hundred day moving average price of $8.30.

Analyst Upgrades and Downgrades

RMAX has been the topic of several research reports. Keefe, Bruyette & Woods lowered their price target on RE/MAX from $10.00 to $9.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Wall Street Zen lowered RE/MAX from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $9.00.

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.