Bank of New York Mellon Corp Raises Stock Holdings in RE/MAX Holdings, Inc. (NYSE:RMAX)

Bank of New York Mellon Corp boosted its position in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 27.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 85,505 shares of the financial services provider’s stock after buying an additional 18,300 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.45% of RE/MAX worth $912,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC grew its position in shares of RE/MAX by 104.1% in the 4th quarter. Empowered Funds LLC now owns 116,595 shares of the financial services provider’s stock worth $1,244,000 after buying an additional 59,477 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in RE/MAX by 6.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 26,178 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 1,662 shares during the period. SG Americas Securities LLC boosted its holdings in RE/MAX by 82.8% in the fourth quarter. SG Americas Securities LLC now owns 21,516 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 9,743 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in RE/MAX by 31.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,579 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,336 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in RE/MAX by 145.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 120,247 shares of the financial services provider’s stock worth $1,497,000 after purchasing an additional 71,215 shares in the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of RE/MAX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 19th.

RE/MAX Stock Down 2.3 %

RMAX opened at $8.89 on Wednesday. The stock has a market cap of $168.76 million, a PE ratio of 25.40 and a beta of 1.32. The business has a 50 day moving average of $9.55 and a 200-day moving average of $11.03. RE/MAX Holdings, Inc. has a 52 week low of $6.94 and a 52 week high of $14.31.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, February 20th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). The business had revenue of $72.47 million for the quarter, compared to the consensus estimate of $74.34 million. RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. Equities analysts anticipate that RE/MAX Holdings, Inc. will post 0.89 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Adam K. Peterson purchased 11,798 shares of RE/MAX stock in a transaction dated Friday, January 10th. The stock was purchased at an average cost of $9.64 per share, for a total transaction of $113,732.72. Following the completion of the acquisition, the insider now directly owns 3,247,929 shares of the company’s stock, valued at $31,310,035.56. The trade was a 0.36 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 40,434 shares of company stock worth $410,729. 5.99% of the stock is currently owned by company insiders.

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.