Vanguard Group Inc. Lowers Stock Position in RE/MAX Holdings, Inc. (NYSE:RMAX)

Vanguard Group Inc. lowered its stake in RE/MAX Holdings, Inc. (NYSE:RMAX - Free Report) by 11.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,865,708 shares of the financial services provider's stock after selling 242,184 shares during the quarter. Vanguard Group Inc. owned 10.23% of RE/MAX worth $24,142,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Captrust Financial Advisors increased its stake in RE/MAX by 115.0% during the 1st quarter. Captrust Financial Advisors now owns 1,017 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 544 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in RE/MAX during the 3rd quarter valued at $35,000. Point72 Middle East FZE bought a new stake in RE/MAX during the 4th quarter valued at $35,000. Amundi bought a new stake in RE/MAX during the 4th quarter valued at $41,000. Finally, Tower Research Capital LLC TRC increased its stake in RE/MAX by 466.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,433 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 4,474 shares in the last quarter. Institutional investors own 93.17% of the company's stock.

Insider Buying and Selling

In related news, EVP Abigail C. Lee sold 4,500 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total value of $38,295.00. Following the sale, the executive vice president now directly owns 89,229 shares in the company, valued at approximately $759,338.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Abigail C. Lee sold 4,500 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total value of $38,295.00. Following the sale, the executive vice president now directly owns 89,229 shares in the company, valued at approximately $759,338.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Adam K. Peterson acquired 54,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average price of $7.64 per share, for a total transaction of $412,560.00. Following the completion of the purchase, the insider now directly owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The disclosure for this purchase can be found here. 4.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RMAX has been the topic of a number of analyst reports. Jonestrading reaffirmed a "hold" rating on shares of RE/MAX in a report on Friday, March 1st. Morgan Stanley cut their price objective on shares of RE/MAX from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Wednesday. StockNews.com downgraded shares of RE/MAX from a "buy" rating to a "hold" rating in a report on Monday, February 26th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $14.00 price objective (down from $16.00) on shares of RE/MAX in a report on Monday, December 18th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of RE/MAX from $11.00 to $10.00 and set a "market perform" rating on the stock in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $14.00.

RE/MAX Trading Down 4.8 %

Shares of NYSE:RMAX traded down $0.38 during midday trading on Friday, reaching $7.53. The company had a trading volume of 294,274 shares, compared to its average volume of 387,132. The company's 50 day moving average price is $8.56 and its 200 day moving average price is $10.22. The stock has a market cap of $137.62 million, a P/E ratio of -1.98 and a beta of 1.40. RE/MAX Holdings, Inc. has a 52-week low of $7.24 and a 52-week high of $20.48.

RE/MAX (NYSE:RMAX - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. The company had revenue of $76.60 million for the quarter, compared to the consensus estimate of $77.19 million. RE/MAX had a negative net margin of 21.19% and a negative return on equity of 116.18%. Research analysts forecast that RE/MAX Holdings, Inc. will post 0.77 EPS for the current fiscal year.

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.