BNP Paribas Arbitrage SA Has $327,000 Stake in RE/MAX Holdings, Inc. (RMAX)
BNP Paribas Arbitrage SA grew its holdings in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 51.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,829 shares of the financial services provider’s stock after purchasing an additional 1,983 shares during the period. BNP Paribas Arbitrage SA’s holdings in RE/MAX Holdings were worth $327,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. raised its stake in RE/MAX Holdings by 27,449.3% in the 1st quarter. BlackRock Inc. now owns 2,300,092 shares of the financial services provider’s stock worth $136,741,000 after acquiring an additional 2,291,743 shares during the last quarter. Van Berkom & Associates Inc. grew its position in RE/MAX Holdings by 0.4% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,125,326 shares of the financial services provider’s stock worth $63,075,000 after purchasing an additional 4,320 shares during the period. Vanguard Group Inc. grew its position in RE/MAX Holdings by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 855,962 shares of the financial services provider’s stock worth $50,887,000 after purchasing an additional 75,595 shares during the period. Renaissance Technologies LLC grew its position in RE/MAX Holdings by 8.6% during the 1st quarter. Renaissance Technologies LLC now owns 645,500 shares of the financial services provider’s stock worth $38,375,000 after purchasing an additional 51,000 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in RE/MAX Holdings by 10.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 606,702 shares of the financial services provider’s stock worth $36,067,000 after purchasing an additional 58,603 shares during the period.
Shares of RE/MAX Holdings, Inc. (RMAX) opened at 60.35 on Tuesday. RE/MAX Holdings, Inc. has a 52-week low of $41.48 and a 52-week high of $66.10. The stock’s 50 day moving average price is $60.58 and its 200-day moving average price is $57.57. The firm has a market capitalization of $1.07 billion, a PE ratio of 45.79 and a beta of 0.92.
RE/MAX Holdings (NYSE:RMAX) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.06. The firm had revenue of $48.82 million during the quarter, compared to analysts’ expectations of $48.29 million. RE/MAX Holdings had a net margin of 12.45% and a return on equity of 79.94%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share. Equities research analysts anticipate that RE/MAX Holdings, Inc. will post $1.90 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th were issued a dividend of $0.18 per share. The ex-dividend date was Monday, August 14th. This represents a $0.72 annualized dividend and a yield of 1.19%. RE/MAX Holdings’s dividend payout ratio is currently 54.96%.
Several equities research analysts have weighed in on the company. BidaskClub downgraded RE/MAX Holdings from a “buy” rating to a “hold” rating in a research report on Friday, September 8th. Craig Hallum assumed coverage on RE/MAX Holdings in a research report on Wednesday, August 30th. They set a “buy” rating and a $75.00 price target on the stock. Zacks Investment Research downgraded RE/MAX Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Stephens downgraded RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 price target on the stock. in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $63.80.
In related news, President Geoffrey D. Lewis sold 1,200 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $60.00, for a total transaction of $72,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.58% of the company’s stock.
About RE/MAX Holdings
RE/MAX Holdings, Inc is a franchisor in the real estate industry, franchising real estate brokerages around the world under the RE/MAX brand and mortgage brokerages within the United States under the Motto Mortgage brand. The Company is a franchised business, with all of the RE/MAX branded brokerage office locations being operated by franchisees, including RE/MAX, LLC, which owns the RE/MAX brand, and sells franchises and franchising rights; Independent Regional Franchise Owner, which owns rights to sell brokerage franchises in a specified region; Franchisee (or Broker-Owner), which operates a RE/MAX-branded brokerage office, lists properties and recruits agents, and Agent (or Sales Associate), including branded independent contractors operating out of local franchise brokerage offices.
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