RE/MAX Holdings, Inc. $RMAX Shares Sold by Magnolia Group LLC

Magnolia Group LLC trimmed its position in RE/MAX Holdings, Inc. (NYSE:RMAX) by 7.0% during the first quarter, HoldingsChannel.com reports. The firm owned 2,665,643 shares of the financial services provider’s stock after selling 201,555 shares during the quarter. RE/MAX comprises 2.9% of Magnolia Group LLC’s investment portfolio, making the stock its 9th biggest position. Magnolia Group LLC owned 0.13% of RE/MAX worth $15,354,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. grew its holdings in shares of RE/MAX by 20.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 7,698 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,317 shares during the period. First Trust Advisors LP increased its position in RE/MAX by 2.3% during the 4th quarter. First Trust Advisors LP now owns 63,406 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 1,446 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in RE/MAX by 7.5% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 25,753 shares of the financial services provider’s stock valued at $195,000 after buying an additional 1,796 shares during the period. Alliancebernstein L.P. raised its holdings in RE/MAX by 5.6% in the third quarter. Alliancebernstein L.P. now owns 37,900 shares of the financial services provider’s stock valued at $357,000 after buying an additional 2,000 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in RE/MAX by 2.7% during the second quarter. Qube Research & Technologies Ltd now owns 102,629 shares of the financial services provider’s stock valued at $840,000 after buying an additional 2,708 shares in the last quarter. 93.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on RMAX. JonesTrading upgraded shares of RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 price objective for the company in a research note on Monday, April 27th. Weiss Ratings reissued a “sell (d)” rating on shares of RE/MAX in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.80.

Insider Buying and Selling

In other RE/MAX news, insider Adam K. Peterson sold 632,091 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $9.84, for a total value of $6,219,775.44. Following the completion of the transaction, the insider owned 1,691,727 shares in the company, valued at $16,646,593.68. This represents a 27.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 1,341,378 shares of company stock worth $14,028,770. Insiders own 6.80% of the company’s stock.

RE/MAX Price Performance

Shares of RMAX opened at $11.15 on Friday. RE/MAX Holdings, Inc. has a 12 month low of $5.46 and a 12 month high of $11.62. The stock’s 50-day moving average is $9.55 and its two-hundred day moving average is $7.84. The stock has a market cap of $236.71 million, a PE ratio of 1,115.00 and a beta of 1.82.

RE/MAX (NYSE:RMAX) last posted its earnings results on Friday, May 8th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). RE/MAX had a net margin of 0.13% and a negative return on equity of 90.29%. The company had revenue of $53.36 million during the quarter, compared to analyst estimates of $73.21 million. On average, research analysts anticipate that RE/MAX Holdings, Inc. will post 0.86 earnings per share for the current year.

About RE/MAX

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.