Magnolia Group LLC Increases Stake in RE/MAX Holdings, Inc. (NYSE:RMAX)

Magnolia Group LLC increased its position in RE/MAX Holdings, Inc. (NYSE:RMAX) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,221,131 shares of the financial services provider’s stock after buying an additional 70,457 shares during the quarter. RE/MAX accounts for 5.9% of Magnolia Group LLC’s portfolio, making the stock its 6th largest position. Magnolia Group LLC owned about 0.17% of RE/MAX worth $34,369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RMAX. Harbor Capital Advisors Inc. boosted its position in RE/MAX by 31.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,579 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,336 shares during the period. Quest Partners LLC purchased a new stake in RE/MAX during the 3rd quarter valued at about $106,000. AlphaQuest LLC grew its position in RE/MAX by 39.2% during the 4th quarter. AlphaQuest LLC now owns 11,829 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 3,329 shares during the last quarter. Quantinno Capital Management LP purchased a new position in RE/MAX in the 3rd quarter worth approximately $135,000. Finally, Paloma Partners Management Co bought a new stake in RE/MAX in the third quarter valued at approximately $143,000. Hedge funds and other institutional investors own 93.17% of the company’s stock.

Insider Activity at RE/MAX

In related news, major shareholder Adam K. Peterson acquired 13,636 shares of the stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $10.45 per share, for a total transaction of $142,496.20. Following the completion of the acquisition, the insider now directly owns 3,221,131 shares of the company’s stock, valued at approximately $33,660,818.95. This represents a 0.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 69,889 shares of company stock worth $729,432 over the last quarter. Corporate insiders own 5.99% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of RE/MAX from a “buy” rating to a “strong-buy” rating in a report on Tuesday.

RE/MAX Trading Up 0.4 %

RE/MAX stock opened at $8.65 on Thursday. RE/MAX Holdings, Inc. has a 1-year low of $6.94 and a 1-year high of $14.31. The firm has a market cap of $164.11 million, a P/E ratio of 24.70 and a beta of 1.32. The firm has a 50-day moving average of $9.76 and a 200-day moving average of $11.18.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). The business had revenue of $72.47 million during the quarter, compared to the consensus estimate of $74.34 million. RE/MAX had a negative return on equity of 38.69% and a net margin of 2.32%. Research analysts forecast that RE/MAX Holdings, Inc. will post 0.89 earnings per share for the current fiscal year.

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.