RE/MAX Holdings, Inc. (NYSE:RMAX) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in RE/MAX Holdings, Inc. (NYSE:RMAX) by 134.8% in the 4th quarter, Holdings Channel reports. The firm owned 6,433 shares of the financial services provider’s stock after buying an additional 3,693 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in RE/MAX were worth $86,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RMAX. Assenagon Asset Management S.A. acquired a new stake in shares of RE/MAX in the third quarter valued at about $5,792,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of RE/MAX by 195.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,170 shares of the financial services provider’s stock valued at $1,555,000 after purchasing an additional 79,476 shares during the period. Jump Financial LLC acquired a new position in shares of RE/MAX during the third quarter worth $579,000. O Shaughnessy Asset Management LLC purchased a new position in shares of RE/MAX in the third quarter valued at $561,000. Finally, Barclays PLC grew its holdings in RE/MAX by 326.8% during the 3rd quarter. Barclays PLC now owns 41,609 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 31,859 shares in the last quarter. 93.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RMAX. StockNews.com cut shares of RE/MAX from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Morgan Stanley lowered their price objective on RE/MAX from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, April 10th. Jonestrading reaffirmed a “hold” rating on shares of RE/MAX in a research report on Friday, March 1st. Finally, Keefe, Bruyette & Woods reduced their target price on RE/MAX from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.00.

Insiders Place Their Bets

In other news, EVP Abigail C. Lee sold 4,500 shares of RE/MAX stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total value of $38,295.00. Following the completion of the transaction, the executive vice president now directly owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Adam K. Peterson bought 54,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were purchased at an average cost of $7.64 per share, with a total value of $412,560.00. Following the completion of the transaction, the insider now directly owns 3,037,843 shares of the company’s stock, valued at $23,209,120.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Abigail C. Lee sold 4,500 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total transaction of $38,295.00. Following the transaction, the executive vice president now directly owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The disclosure for this sale can be found here. 5.99% of the stock is owned by corporate insiders.

RE/MAX Stock Up 1.8 %

Shares of NYSE RMAX opened at $7.19 on Tuesday. The stock’s 50 day moving average price is $7.98 and its two-hundred day moving average price is $9.81. RE/MAX Holdings, Inc. has a 52-week low of $6.94 and a 52-week high of $20.48. The stock has a market capitalization of $131.43 million, a P/E ratio of -1.89 and a beta of 1.40.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. RE/MAX had a negative return on equity of 116.18% and a negative net margin of 21.19%. The business had revenue of $76.60 million for the quarter, compared to analyst estimates of $77.19 million. On average, analysts anticipate that RE/MAX Holdings, Inc. will post 0.75 EPS for the current year.

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.