Assenagon Asset Management S.A. Buys New Stake in RE/MAX Holdings, Inc. (NYSE:RMAX)

Assenagon Asset Management S.A. purchased a new position in RE/MAX Holdings, Inc. (NYSE:RMAXFree Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 447,579 shares of the financial services provider’s stock, valued at approximately $5,792,000. Assenagon Asset Management S.A. owned approximately 2.47% of RE/MAX as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RMAX. Raymond James & Associates purchased a new stake in shares of RE/MAX in the first quarter worth about $368,000. Bank of New York Mellon Corp raised its holdings in shares of RE/MAX by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 206,357 shares of the financial services provider’s stock worth $5,724,000 after acquiring an additional 7,507 shares in the last quarter. American Century Companies Inc. boosted its position in shares of RE/MAX by 28.6% during the 1st quarter. American Century Companies Inc. now owns 99,191 shares of the financial services provider’s stock valued at $2,751,000 after acquiring an additional 22,034 shares during the last quarter. Citigroup Inc. grew its holdings in shares of RE/MAX by 5.5% in the first quarter. Citigroup Inc. now owns 18,470 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 969 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in RE/MAX by 49.9% in the first quarter. MetLife Investment Management LLC now owns 9,368 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 3,119 shares during the last quarter. Institutional investors own 93.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley cut shares of RE/MAX from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $19.50 to $9.00 in a research note on Tuesday, November 7th. Jonestrading decreased their price objective on RE/MAX from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. StockNews.com upgraded RE/MAX from a “hold” rating to a “buy” rating in a report on Friday, January 12th. JPMorgan Chase & Co. restated an “underweight” rating and set a $14.00 price target (down previously from $16.00) on shares of RE/MAX in a report on Monday, December 18th. Finally, TheStreet lowered shares of RE/MAX from a “c-” rating to a “d” rating in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.50.

Check Out Our Latest Analysis on RE/MAX

RE/MAX Trading Down 3.5 %

RMAX opened at $11.14 on Wednesday. The business has a fifty day moving average of $11.24 and a 200 day moving average of $13.38. The company has a debt-to-equity ratio of 18.39, a quick ratio of 1.32 and a current ratio of 1.32. RE/MAX Holdings, Inc. has a 52-week low of $8.61 and a 52-week high of $24.28.

RE/MAX (NYSE:RMAXGet Free Report) last issued its earnings results on Thursday, November 2nd. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. The firm had revenue of $81.22 million during the quarter, compared to analyst estimates of $81.45 million. RE/MAX had a negative net margin of 18.37% and a positive return on equity of 792.18%. As a group, equities analysts predict that RE/MAX Holdings, Inc. will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Adam K. Peterson purchased 24,342 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was purchased at an average price of $8.84 per share, for a total transaction of $215,183.28. Following the completion of the acquisition, the insider now owns 2,971,498 shares of the company’s stock, valued at $26,268,042.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Adam K. Peterson acquired 24,342 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was purchased at an average cost of $8.84 per share, for a total transaction of $215,183.28. Following the completion of the acquisition, the insider now directly owns 2,971,498 shares of the company’s stock, valued at approximately $26,268,042.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Adam K. Peterson bought 12,345 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were acquired at an average price of $8.88 per share, for a total transaction of $109,623.60. Following the completion of the acquisition, the insider now owns 2,983,843 shares in the company, valued at $26,496,525.84. The disclosure for this purchase can be found here. Insiders own 3.37% of the company’s stock.

RE/MAX Profile

(Free Report)

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage 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.

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Institutional Ownership by Quarter for RE/MAX (NYSE:RMAX)

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