JPMorgan Chase & Co. Purchases 71,215 Shares of RE/MAX Holdings, Inc. (NYSE:RMAX)

JPMorgan Chase & Co. increased its position in RE/MAX Holdings, Inc. (NYSE:RMAX) by 145.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 120,247 shares of the financial services provider’s stock after purchasing an additional 71,215 shares during the quarter. JPMorgan Chase & Co.’s holdings in RE/MAX were worth $1,497,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. nVerses Capital LLC raised its holdings in RE/MAX by 566.7% in the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,700 shares during the period. Quest Partners LLC bought a new position in RE/MAX in the 3rd quarter valued at about $106,000. Quantinno Capital Management LP bought a new position in RE/MAX in the 3rd quarter valued at about $135,000. Paloma Partners Management Co bought a new position in RE/MAX in the 3rd quarter valued at about $143,000. Finally, XTX Topco Ltd bought a new position in RE/MAX in the 3rd quarter valued at about $145,000. 93.17% of the stock is owned by institutional investors.

RE/MAX Stock Up 1.3 %

Shares of NYSE:RMAX opened at $10.40 on Friday. The company’s 50 day moving average price is $11.34 and its two-hundred day moving average price is $11.14. RE/MAX Holdings, Inc. has a 12-month low of $6.94 and a 12-month high of $14.31. The firm has a market cap of $196.25 million, a PE ratio of -19.26 and a beta of 1.38.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, October 31st. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.16). RE/MAX had a negative return on equity of 35.76% and a negative net margin of 3.08%. The business had revenue of $78.48 million for the quarter, compared to analyst estimates of $78.64 million. During the same quarter in the previous year, the company earned $0.25 EPS. On average, research analysts expect that RE/MAX Holdings, Inc. will post 0.84 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of RE/MAX from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.17.

Insiders Place Their Bets

In other news, major shareholder Adam K. Peterson purchased 11,798 shares of RE/MAX stock in a transaction that occurred on Friday, January 10th. The shares were acquired at an average price of $9.64 per share, for a total transaction of $113,732.72. Following the transaction, the insider now owns 3,247,929 shares of the company’s stock, valued at approximately $31,310,035.56. The trade was a 0.36 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have acquired a total of 97,255 shares of company stock worth $1,029,363 in the last quarter. Corporate insiders own 5.99% of the company’s stock.

RE/MAX 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.