Cornercap Investment Counsel Inc. Takes $606,000 Position in RE/MAX Holdings, Inc. (NYSE:RMAX)

Cornercap Investment Counsel Inc. purchased a new stake in RE/MAX Holdings, Inc. (NYSE:RMAX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 45,484 shares of the financial services provider’s stock, valued at approximately $606,000. Cornercap Investment Counsel Inc. owned 0.25% of RE/MAX as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RMAX. Raymond James & Associates acquired a new stake in RE/MAX during the 1st quarter worth $368,000. Bank of New York Mellon Corp raised its stake in RE/MAX by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 206,357 shares of the financial services provider’s stock worth $5,724,000 after buying an additional 7,507 shares during the period. American Century Companies Inc. raised its stake in RE/MAX by 28.6% during the 1st quarter. American Century Companies Inc. now owns 99,191 shares of the financial services provider’s stock worth $2,751,000 after buying an additional 22,034 shares during the period. Citigroup Inc. raised its stake in RE/MAX by 5.5% during the 1st quarter. Citigroup Inc. now owns 18,470 shares of the financial services provider’s stock worth $512,000 after buying an additional 969 shares during the period. Finally, MetLife Investment Management LLC raised its stake in RE/MAX by 49.9% during the 1st quarter. MetLife Investment Management LLC now owns 9,368 shares of the financial services provider’s stock worth $260,000 after buying an additional 3,119 shares during the period. Institutional investors and hedge funds own 93.17% of the company’s stock.

Insider Activity

In other news, EVP Abigail C. Lee sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was 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 owns 89,229 shares in the company, valued at approximately $759,338.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Abigail C. Lee sold 4,500 shares of RE/MAX stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total transaction of $38,295.00. Following the completion of the transaction, the executive vice president now owns 89,229 shares in the company, valued at $759,338.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Adam K. Peterson purchased 54,000 shares of RE/MAX stock in a transaction that occurred on Monday, March 18th. The shares were acquired at an average price of $7.64 per share, with a total value of $412,560.00. Following the acquisition, the insider now directly owns 3,037,843 shares of the company’s stock, valued at approximately $23,209,120.52. The disclosure for this purchase can be found here. 3.37% of the stock is owned by corporate insiders.

RE/MAX Trading Down 3.1 %

RMAX stock opened at $7.10 on Wednesday. The stock has a 50-day moving average price of $8.45 and a two-hundred day moving average price of $10.13. RE/MAX Holdings, Inc. has a 1 year low of $7.00 and a 1 year high of $20.48.

RE/MAX (NYSE:RMAX) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $76.60 million during the quarter, compared to analysts’ expectations of $77.19 million. RE/MAX had a negative return on equity of 116.18% and a negative net margin of 21.19%. As a group, equities research analysts forecast that RE/MAX Holdings, Inc. will post 0.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Keefe, Bruyette & Woods dropped their price objective on RE/MAX from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 28th. Morgan Stanley dropped their price objective on RE/MAX from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 10th. Jonestrading reiterated a “hold” rating on shares of RE/MAX in a report on Friday, March 1st. Finally, StockNews.com cut RE/MAX from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.00.

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.