Geoffrey D. Lewis Sells 1,000 Shares of RE/MAX Holdings Inc. (RMAX) Stock
RE/MAX Holdings Inc. (NYSE:RMAX) President Geoffrey D. Lewis sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $48.80, for a total value of $48,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of RE/MAX Holdings Inc. (NYSE:RMAX) traded up 0.96% during midday trading on Friday, hitting $47.50. The company had a trading volume of 6,111 shares. RE/MAX Holdings Inc. has a 12-month low of $30.22 and a 12-month high of $50.10. The company’s 50-day moving average price is $44.35 and its 200 day moving average price is $42.02. The company has a market capitalization of $838.14 million, a price-to-earnings ratio of 34.82 and a beta of 0.87.
RE/MAX Holdings (NYSE:RMAX) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. RE/MAX Holdings had a net margin of 13.05% and a return on equity of 81.52%. The business had revenue of $45.60 million for the quarter, compared to analysts’ expectations of $40.31 million. During the same quarter last year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts predict that RE/MAX Holdings Inc. will post $3.80 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be given a $0.15 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $0.60 annualized dividend and a yield of 1.28%. RE/MAX Holdings’s payout ratio is 44.78%.
A number of research analysts have commented on RMAX shares. Zacks Investment Research upgraded RE/MAX Holdings from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Wednesday, September 28th. Keefe, Bruyette & Woods lifted their price target on RE/MAX Holdings from $34.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, August 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $42.67.
Institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its position in shares of RE/MAX Holdings by 242.8% in the first quarter. BlackRock Fund Advisors now owns 962,582 shares of the company’s stock valued at $33,017,000 after buying an additional 681,806 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in RE/MAX Holdings by 56.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,168,570 shares of the company’s stock valued at $47,047,000 after buying an additional 422,626 shares during the period. Dimensional Fund Advisors LP raised its stake in RE/MAX Holdings by 32.7% in the second quarter. Dimensional Fund Advisors LP now owns 395,025 shares of the company’s stock valued at $15,903,000 after buying an additional 97,397 shares during the period. Emerald Acquisition Ltd. purchased a new stake in RE/MAX Holdings during the second quarter valued at approximately $3,340,000. Finally, State Street Corp raised its stake in RE/MAX Holdings by 25.7% in the second quarter. State Street Corp now owns 302,727 shares of the company’s stock valued at $12,186,000 after buying an additional 61,836 shares during the period.
RE/MAX Holdings Company Profile
RE/MAX Holdings, Inc is a franchisor of real estate brokerage services. The Company is engaged in the business of recruiting and retaining agents, and selling franchises. The Company operates in two segments: Real Estate Franchise Services and Brokerages. The Real Estate Franchise Services segment comprises the operations of its owned and independent global franchising operations, and corporate-wide professional services expenses.
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