State Street Corp Increases Position in RE/MAX Holdings, Inc. (NYSE:RMAX)

State Street Corp increased its position in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 6.6% in the 3rd quarter, Holdings Channel reports. The firm owned 435,652 shares of the financial services provider’s stock after purchasing an additional 27,131 shares during the period. State Street Corp’s holdings in RE/MAX were worth $5,424,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RMAX. Bank of New York Mellon Corp raised its stake in RE/MAX by 23.2% during the second quarter. Bank of New York Mellon Corp now owns 82,119 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 15,479 shares during the period. Rhumbline Advisers lifted its position in shares of RE/MAX by 7.6% during the second quarter. Rhumbline Advisers now owns 29,174 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 2,054 shares in the last quarter. Magnolia Group LLC grew its stake in shares of RE/MAX by 2.8% in the second quarter. Magnolia Group LLC now owns 3,124,152 shares of the financial services provider’s stock worth $25,306,000 after acquiring an additional 86,309 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in RE/MAX in the 2nd quarter valued at about $153,000. Finally, Squarepoint Ops LLC acquired a new position in RE/MAX during the 2nd quarter worth approximately $253,000. Institutional investors and hedge funds own 93.17% of the company’s stock.

Wall Street Analysts Forecast Growth

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

RE/MAX Price Performance

Shares of RE/MAX stock opened at $10.68 on Friday. RE/MAX Holdings, Inc. has a 12 month low of $6.94 and a 12 month high of $14.31. The stock has a market capitalization of $201.55 million, a price-to-earnings ratio of -19.78 and a beta of 1.34. The firm’s fifty day simple moving average is $12.06 and its 200-day simple moving average is $10.89.

Insider Buying and Selling

In related news, major shareholder Adam K. Peterson purchased 29,455 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average price of $10.82 per share, for a total transaction of $318,703.10. Following the acquisition, the insider now directly owns 3,207,495 shares of the company’s stock, valued at $34,705,095.90. This trade represents a 0.93 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.99% of the company’s stock.

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.