RE/MAX Holdings Inc. (RMAX) Shares Bought by California State Teachers Retirement System
California State Teachers Retirement System increased its position in shares of RE/MAX Holdings Inc. (NYSE:RMAX) by 49.3% during the second quarter, Holdings Channel reports. The firm owned 37,225 shares of the company’s stock after buying an additional 12,290 shares during the period. California State Teachers Retirement System owned about 0.21% of RE/MAX Holdings worth $1,499,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of RMAX. Envestnet Asset Management Inc. boosted its stake in shares of RE/MAX Holdings by 71.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,712 shares of the company’s stock worth $230,000 after buying an additional 2,799 shares during the period. Renaissance Technologies LLC boosted its stake in shares of RE/MAX Holdings by 6.4% in the first quarter. Renaissance Technologies LLC now owns 427,800 shares of the company’s stock worth $14,674,000 after buying an additional 25,600 shares during the period. Geode Capital Management LLC boosted its stake in shares of RE/MAX Holdings by 5.5% in the first quarter. Geode Capital Management LLC now owns 115,695 shares of the company’s stock worth $3,967,000 after buying an additional 6,066 shares during the period. State Street Corp boosted its stake in shares of RE/MAX Holdings by 24.8% in the first quarter. State Street Corp now owns 240,891 shares of the company’s stock worth $8,260,000 after buying an additional 47,892 shares during the period. Finally, Menta Capital LLC boosted its stake in shares of RE/MAX Holdings by 152.8% in the first quarter. Menta Capital LLC now owns 44,335 shares of the company’s stock worth $1,521,000 after buying an additional 26,800 shares during the period.
RE/MAX Holdings Inc. (NYSE:RMAX) traded down 0.76% during mid-day trading on Tuesday, hitting $42.04. 29,663 shares of the company were exchanged. The stock’s 50 day moving average is $42.13 and its 200-day moving average is $39.30. The company has a market cap of $741.80 million, a price-to-earnings ratio of 31.21 and a beta of 0.88. RE/MAX Holdings Inc. has a 12-month low of $30.22 and a 12-month high of $44.13.
RE/MAX Holdings (NYSE:RMAX) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. RE/MAX Holdings had a net margin of 11.87% and a return on equity of 98.41%. The company had revenue of $43.40 million for the quarter, compared to analyst estimates of $40.31 million. During the same quarter last year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts predict that RE/MAX Holdings Inc. will post $3.80 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Monday, August 15th. RE/MAX Holdings’s dividend payout ratio is 44.78%.
RMAX has been the topic of a number of research reports. Zacks Investment Research raised shares of RE/MAX Holdings from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Wednesday, July 6th. Keefe, Bruyette & Woods increased their target price on shares of RE/MAX Holdings from $34.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, August 8th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $41.00.
RE/MAX Holdings Company Profile
RE/MAX Holdings, Inc is a franchisor of real estate brokerage services. The Company is engaged in the business of recruiting and retaining agents, and selling franchises. The Company operates in two segments: Real Estate Franchise Services and Brokerages. The Real Estate Franchise Services segment comprises the operations of its owned and independent global franchising operations, and corporate-wide professional services expenses.
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