Cubist Systematic Strategies LLC Sells 20,578 Shares of RE/MAX Holdings, Inc. (NYSE:RMAX)

Cubist Systematic Strategies LLC trimmed its stake in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 11.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 165,204 shares of the financial services provider’s stock after selling 20,578 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.90% of RE/MAX worth $1,338,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in RE/MAX by 19,729.6% during the second quarter. Nisa Investment Advisors LLC now owns 5,354 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 5,327 shares in the last quarter. Patron Partners LLC acquired a new position in shares of RE/MAX during the 1st quarter worth $93,000. Pinnacle Wealth Planning Services Inc. lifted its position in shares of RE/MAX by 15.5% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 12,222 shares of the financial services provider’s stock worth $107,000 after buying an additional 1,644 shares during the last quarter. SG Americas Securities LLC boosted its stake in RE/MAX by 12.7% in the first quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock valued at $114,000 after buying an additional 1,469 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in RE/MAX in the second quarter valued at about $153,000. 93.17% of the stock is currently owned by institutional investors.

RE/MAX Price Performance

Shares of RMAX stock opened at $12.49 on Wednesday. RE/MAX Holdings, Inc. has a 1-year low of $6.94 and a 1-year high of $13.70. The stock has a 50-day moving average of $10.89 and a 200-day moving average of $9.17.

RE/MAX (NYSE:RMAX) last released its earnings results 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. RE/MAX had a negative net margin of 22.26% and a negative return on equity of 35.12%. The business had revenue of $78.45 million during the quarter, compared to the consensus estimate of $78.16 million. Research analysts expect that RE/MAX Holdings, Inc. will post 0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RMAX. StockNews.com upgraded shares of RE/MAX from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Stephens upped their target price on RE/MAX from $9.00 to $10.50 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, RE/MAX has a consensus rating of “Hold” and a consensus target price of $11.90.

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.