JPMorgan Chase & Co. Acquires 260,416 Shares of RE/MAX Holdings, Inc. $RMAX

JPMorgan Chase & Co. increased its holdings in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 95.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 533,201 shares of the financial services provider’s stock after acquiring an additional 260,416 shares during the period. JPMorgan Chase & Co.’s holdings in RE/MAX were worth $5,028,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its holdings in RE/MAX by 166.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 398,707 shares of the financial services provider’s stock worth $3,760,000 after purchasing an additional 249,188 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in RE/MAX by 20.0% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 590,380 shares of the financial services provider’s stock valued at $5,567,000 after buying an additional 98,241 shares in the last quarter. Two Sigma Investments LP purchased a new stake in RE/MAX during the 3rd quarter valued at approximately $799,000. Norges Bank bought a new stake in shares of RE/MAX during the second quarter valued at approximately $677,000. Finally, Algert Global LLC purchased a new position in shares of RE/MAX in the third quarter worth $706,000. Institutional investors own 93.17% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of RE/MAX in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $9.00.

RE/MAX Stock Up 0.9%

RMAX stock opened at $5.71 on Friday. RE/MAX Holdings, Inc. has a 52 week low of $5.46 and a 52 week high of $10.32. The firm has a market capitalization of $115.00 million, a P/E ratio of 14.64 and a beta of 1.27. The company has a fifty day simple moving average of $6.61 and a two-hundred day simple moving average of $7.70.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, February 19th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. RE/MAX had a net margin of 2.80% and a negative return on equity of 73.77%. The firm had revenue of $71.14 million for the quarter, compared to analysts’ expectations of $71.33 million. As a group, analysts anticipate that RE/MAX Holdings, Inc. will post 0.89 EPS for the current year.

Insider Transactions at RE/MAX

In other RE/MAX news, major shareholder Adam K. Peterson sold 61,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $5.71, for a total transaction of $348,310.00. Following the sale, the insider directly owned 2,604,643 shares in the company, valued at $14,872,511.53. This represents a 2.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 6.80% of the stock is currently owned by company insiders.

RE/MAX Company Profile

RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.

Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.