RE/MAX Holdings, Inc. (NYSE:RMAX) is Magnolia Group LLC’s 7th Largest Position

Magnolia Group LLC grew its holdings in RE/MAX Holdings, Inc. (NYSE:RMAX) by 2.8% during the second quarter, HoldingsChannel reports. The fund owned 3,124,152 shares of the financial services provider’s stock after purchasing an additional 86,309 shares during the period. RE/MAX accounts for about 3.8% of Magnolia Group LLC’s investment portfolio, making the stock its 7th biggest holding. Magnolia Group LLC owned approximately 0.17% of RE/MAX worth $25,306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Russell Investments Group Ltd. acquired a new stake in RE/MAX during the 4th quarter worth $2,583,000. Jump Financial LLC grew its holdings in shares of RE/MAX by 2.3% during the fourth quarter. Jump Financial LLC now owns 45,800 shares of the financial services provider’s stock worth $611,000 after purchasing an additional 1,028 shares during the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of RE/MAX during the fourth quarter worth about $141,000. Quest Partners LLC purchased a new stake in shares of RE/MAX in the 4th quarter valued at about $183,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of RE/MAX in the 4th quarter valued at about $166,000. Institutional investors and hedge funds own 93.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RMAX shares. Stephens boosted their price objective on RE/MAX from $9.00 to $10.50 and gave the company an “equal weight” rating in a research note on Monday, August 12th. StockNews.com downgraded shares of RE/MAX from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.90.

Insider Activity

In other news, major shareholder Adam K. Peterson purchased 46,629 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was purchased at an average cost of $8.30 per share, with a total value of $387,020.70. Following the completion of the acquisition, the insider now directly owns 3,084,472 shares of the company’s stock, valued at approximately $25,601,117.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Adam K. Peterson bought 23,500 shares of the company’s stock in a transaction on Friday, June 28th. The stock was bought at an average cost of $8.27 per share, with a total value of $194,345.00. Following the completion of the acquisition, the insider now owns 3,124,152 shares in the company, valued at approximately $25,836,737.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Adam K. Peterson purchased 46,629 shares of RE/MAX stock in a transaction dated Tuesday, June 18th. The shares were bought at an average price of $8.30 per share, with a total value of $387,020.70. Following the completion of the transaction, the insider now owns 3,084,472 shares in the company, valued at approximately $25,601,117.60. The disclosure for this purchase can be found here. Insiders have bought a total of 100,309 shares of company stock valued at $824,351 over the last quarter. Corporate insiders own 5.99% of the company’s stock.

RE/MAX Price Performance

Shares of RMAX stock traded down $0.20 during midday trading on Friday, hitting $10.59. The company had a trading volume of 186,994 shares, compared to its average volume of 252,711. The stock has a market cap of $199.73 million, a price-to-earnings ratio of -2.68 and a beta of 1.37. The company’s 50 day simple moving average is $9.71 and its 200 day simple moving average is $8.70. RE/MAX Holdings, Inc. has a 52-week low of $6.94 and a 52-week high of $15.54.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The firm had revenue of $78.45 million for the quarter, compared to analyst estimates of $78.16 million. RE/MAX had a negative net margin of 22.26% and a negative return on equity of 35.12%. Analysts anticipate that RE/MAX Holdings, Inc. will post 0.73 EPS for the current 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.