Waddell & Reed Financial Inc. Decreases Position in Re/Max Holdings Inc (RMAX)

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Waddell & Reed Financial Inc. decreased its stake in Re/Max Holdings Inc (NYSE:RMAX) by 13.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 248,480 shares of the financial services provider’s stock after selling 37,670 shares during the period. Waddell & Reed Financial Inc. owned about 1.40% of Re/Max worth $13,033,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of Re/Max by 4.9% in the 1st quarter. Wells Fargo & Company MN now owns 236,034 shares of the financial services provider’s stock valued at $14,269,000 after purchasing an additional 11,108 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Re/Max in the 1st quarter valued at $110,000. Aperio Group LLC boosted its position in Re/Max by 47.8% during the 1st quarter. Aperio Group LLC now owns 6,881 shares of the financial services provider’s stock valued at $416,000 after buying an additional 2,225 shares during the period. Northern Trust Corp boosted its position in Re/Max by 1.4% during the 1st quarter. Northern Trust Corp now owns 209,136 shares of the financial services provider’s stock valued at $12,641,000 after buying an additional 2,837 shares during the period. Finally, BlackRock Inc. boosted its position in Re/Max by 0.5% during the 1st quarter. BlackRock Inc. now owns 2,284,441 shares of the financial services provider’s stock valued at $138,093,000 after buying an additional 11,628 shares during the period. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

NYSE RMAX traded down $0.83 during trading on Friday, hitting $39.04. The company had a trading volume of 105,143 shares, compared to its average volume of 124,052. The company has a current ratio of 5.71, a quick ratio of 5.71 and a debt-to-equity ratio of 3.79. Re/Max Holdings Inc has a one year low of $38.99 and a one year high of $67.50. The firm has a market capitalization of $787.03 million, a PE ratio of 20.88, a price-to-earnings-growth ratio of 2.97 and a beta of 0.46.

Re/Max (NYSE:RMAX) last issued its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.03. Re/Max had a net margin of 6.32% and a return on equity of 74.33%. The business had revenue of $54.30 million during the quarter, compared to analyst estimates of $53.28 million. During the same period in the prior year, the business earned $0.54 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts predict that Re/Max Holdings Inc will post 2.13 earnings per share for the current year.

Several equities research analysts have weighed in on RMAX shares. Piper Jaffray Companies reissued a “buy” rating and set a $65.00 price target on shares of Re/Max in a research report on Friday, August 3rd. Zacks Investment Research raised shares of Re/Max from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, William Blair started coverage on shares of Re/Max in a research report on Friday, July 6th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $62.17.

About Re/Max

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. The company was founded in 1973 and is headquartered in Denver, Colorado.

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Institutional Ownership by Quarter for Re/Max (NYSE:RMAX)

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