Wells Fargo & Company MN Has $12.07 Million Stake in RE/MAX Holdings, Inc. (RMAX)
Wells Fargo & Company MN grew its position in RE/MAX Holdings, Inc. (NYSE:RMAX) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 215,356 shares of the financial services provider’s stock after acquiring an additional 1,383 shares during the period. Wells Fargo & Company MN owned about 1.22% of RE/MAX Holdings worth $12,070,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of RMAX. Sei Investments Co. grew its holdings in RE/MAX Holdings by 6.5% during the first quarter. Sei Investments Co. now owns 2,501 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 153 shares during the period. Victory Capital Management Inc. acquired a new stake in RE/MAX Holdings in the first quarter valued at $159,000. State of Alaska Department of Revenue lifted its holdings in RE/MAX Holdings by 79.3% in the second quarter. State of Alaska Department of Revenue now owns 3,496 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 1,546 shares during the period. Aperio Group LLC acquired a new stake in RE/MAX Holdings in the second quarter valued at $211,000. Finally, Mason Street Advisors LLC lifted its holdings in RE/MAX Holdings by 7.1% in the first quarter. Mason Street Advisors LLC now owns 4,128 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 272 shares during the period.
Several equities research analysts have commented on RMAX shares. Piper Jaffray Companies started coverage on shares of RE/MAX Holdings in a research report on Thursday, September 28th. They set an “overweight” rating and a $69.00 target price on the stock. BidaskClub raised shares of RE/MAX Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Craig Hallum initiated coverage on shares of RE/MAX Holdings in a report on Wednesday, August 30th. They issued a “buy” rating and a $75.00 price target for the company. Zacks Investment Research downgraded shares of RE/MAX Holdings from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Stephens cut shares of RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 price objective for the company. in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.67.
In related news, President Geoffrey D. Lewis sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $60.00, for a total transaction of $72,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.58% of the company’s stock.
RE/MAX Holdings, Inc. (RMAX) opened at 64.15 on Tuesday. RE/MAX Holdings, Inc. has a one year low of $41.48 and a one year high of $66.10. The company’s 50-day moving average price is $61.07 and its 200 day moving average price is $58.06. The firm has a market capitalization of $1.14 billion, a PE ratio of 48.67 and a beta of 0.93.
RE/MAX Holdings (NYSE:RMAX) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. The company had revenue of $48.82 million for the quarter, compared to the consensus estimate of $48.29 million. RE/MAX Holdings had a net margin of 12.45% and a return on equity of 79.94%. RE/MAX Holdings’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. On average, analysts forecast that RE/MAX Holdings, Inc. will post $1.90 earnings per share for the current year.
RE/MAX Holdings Company Profile
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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