Rhumbline Advisers Acquires 5,774 Shares of Re/Max Holdings Inc (RMAX)
Rhumbline Advisers lifted its position in Re/Max Holdings Inc (NYSE:RMAX) by 16.0% in the 4th quarter, HoldingsChannel reports. The fund owned 41,874 shares of the financial services provider’s stock after buying an additional 5,774 shares during the period. Rhumbline Advisers’ holdings in Re/Max were worth $2,031,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of RMAX. PEAK6 Investments L.P. lifted its position in shares of Re/Max by 66.5% in the 3rd quarter. PEAK6 Investments L.P. now owns 3,320 shares of the financial services provider’s stock valued at $211,000 after acquiring an additional 1,326 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Re/Max in the 3rd quarter valued at approximately $234,000. Teacher Retirement System of Texas purchased a new stake in shares of Re/Max in the 4th quarter valued at approximately $294,000. Aperio Group LLC increased its stake in Re/Max by 31.9% in the 3rd quarter. Aperio Group LLC now owns 4,975 shares of the financial services provider’s stock valued at $316,000 after buying an additional 1,204 shares during the period. Finally, Gator Capital Management LLC acquired a new position in Re/Max in the 4th quarter valued at approximately $325,000.
Several research firms have weighed in on RMAX. Zacks Investment Research lowered shares of Re/Max from a “hold” rating to a “sell” rating in a research note on Thursday, March 15th. Craig Hallum set a $65.00 price objective on shares of Re/Max and gave the company a “buy” rating in a research note on Friday, February 23rd. Stephens reiterated a “hold” rating and issued a $60.00 price objective on shares of Re/Max in a research note on Friday, February 23rd. TheStreet lowered shares of Re/Max from a “b” rating to a “c-” rating in a research note on Friday, February 23rd. Finally, Wedbush set a $60.00 price objective on shares of Re/Max and gave the company a “hold” rating in a research note on Friday, February 23rd. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $59.25.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th were paid a dividend of $0.20 per share. This is a positive change from Re/Max’s previous quarterly dividend of $0.18. The ex-dividend date was Tuesday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.35%.
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RE/MAX Holdings, Inc is a franchisor in the real estate industry, franchising real estate brokerages around the world under the RE/MAX brand and mortgage brokerages within the United States under the Motto Mortgage brand. The Company is a franchised business, with all of the RE/MAX branded brokerage office locations being operated by franchisees, including RE/MAX, LLC, which owns the RE/MAX brand, and sells franchises and franchising rights; Independent Regional Franchise Owner, which owns rights to sell brokerage franchises in a specified region; Franchisee (or Broker-Owner), which operates a RE/MAX-branded brokerage office, lists properties and recruits agents, and Agent (or Sales Associate), including branded independent contractors operating out of local franchise brokerage offices.
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