Russell Investments Group Ltd. Takes $2.58 Million Position in RE/MAX Holdings, Inc. (NYSE:RMAX)

Russell Investments Group Ltd. acquired a new position in shares of RE/MAX Holdings, Inc. (NYSE:RMAX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 193,752 shares of the financial services provider's stock, valued at approximately $2,583,000. Russell Investments Group Ltd. owned 1.06% of RE/MAX as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in shares of RE/MAX during the 3rd quarter valued at about $5,792,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of RE/MAX by 195.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,170 shares of the financial services provider's stock worth $1,555,000 after acquiring an additional 79,476 shares in the last quarter. Brandywine Global Investment Management LLC increased its position in shares of RE/MAX by 10.9% during the third quarter. Brandywine Global Investment Management LLC now owns 53,787 shares of the financial services provider's stock worth $696,000 after acquiring an additional 5,301 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in shares of RE/MAX during the fourth quarter worth $606,000. Finally, Jump Financial LLC bought a new stake in RE/MAX in the 3rd quarter valued at $579,000. Institutional investors own 93.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RMAX shares. Keefe, Bruyette & Woods cut their price target on RE/MAX from $11.00 to $10.00 and set a "market perform" rating on the stock in a report on Wednesday, February 28th. Stephens cut their price objective on shares of RE/MAX from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Monday, May 6th. Morgan Stanley reduced their target price on shares of RE/MAX from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Wednesday, April 10th. StockNews.com cut shares of RE/MAX from a "buy" rating to a "hold" rating in a research report on Monday, February 26th. Finally, Jonestrading restated a "hold" rating on shares of RE/MAX in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat.com, RE/MAX currently has an average rating of "Hold" and an average target price of $11.60.

RE/MAX Stock Performance

Shares of RMAX stock traded down $0.21 during mid-day trading on Tuesday, hitting $9.52. The company's stock had a trading volume of 227,945 shares, compared to its average volume of 296,647. RE/MAX Holdings, Inc. has a 52 week low of $6.94 and a 52 week high of $20.48. The company's fifty day simple moving average is $7.87 and its 200-day simple moving average is $9.61.

RE/MAX (NYSE:RMAX - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. The firm had revenue of $76.60 million during the quarter, compared to analysts' expectations of $77.19 million. RE/MAX had a negative net margin of 22.51% and a negative return on equity of 50.09%. As a group, equities research analysts expect that RE/MAX Holdings, Inc. will post 0.75 earnings per share for the current year.

Insider Transactions at RE/MAX

In related news, major shareholder Adam K. Peterson bought 54,000 shares of the business's stock in a transaction on Monday, March 18th. The stock was acquired at an average price of $7.64 per share, for a total transaction of $412,560.00. Following the purchase, the insider now directly owns 3,037,843 shares in the company, valued at $23,209,120.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $38,295.00. Following the transaction, the executive vice president now owns 89,229 shares in the company, valued at approximately $759,338.79. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Adam K. Peterson bought 54,000 shares of the company's stock in a transaction dated Monday, March 18th. The stock was bought at an average cost of $7.64 per share, with a total value of $412,560.00. Following the completion of the transaction, the insider now owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The disclosure for this purchase can be found here. 5.99% of the stock is owned by corporate insiders.

RE/MAX 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.