Magnolia Group LLC Has $27.04 Million Position in RE/MAX Holdings, Inc. $RMAX

Magnolia Group LLC lowered its position in RE/MAX Holdings, Inc. (NYSE:RMAX) by 11.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,867,198 shares of the financial services provider’s stock after selling 380,731 shares during the period. RE/MAX comprises about 4.3% of Magnolia Group LLC’s portfolio, making the stock its 8th largest position. Magnolia Group LLC owned about 0.14% of RE/MAX worth $27,038,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. grew its position in RE/MAX by 80.7% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 492,139 shares of the financial services provider’s stock worth $4,026,000 after purchasing an additional 219,859 shares in the last quarter. Norges Bank bought a new position in shares of RE/MAX in the second quarter valued at approximately $677,000. JPMorgan Chase & Co. increased its position in shares of RE/MAX by 35.4% during the second quarter. JPMorgan Chase & Co. now owns 272,785 shares of the financial services provider’s stock valued at $2,231,000 after acquiring an additional 71,301 shares during the last quarter. Greenland Capital Management LP bought a new stake in RE/MAX during the second quarter worth $379,000. Finally, Jane Street Group LLC boosted its position in RE/MAX by 388.7% in the first quarter. Jane Street Group LLC now owns 57,213 shares of the financial services provider’s stock worth $479,000 after purchasing an additional 45,506 shares during the last quarter. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

RE/MAX Stock Down 3.1%

RMAX opened at $8.03 on Tuesday. The firm has a 50-day moving average price of $7.89 and a 200-day moving average price of $8.41. RE/MAX Holdings, Inc. has a twelve month low of $6.90 and a twelve month high of $10.66. The company has a market capitalization of $161.02 million, a price-to-earnings ratio of 13.16 and a beta of 1.24.

RE/MAX (NYSE:RMAX) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. RE/MAX had a net margin of 4.27% and a negative return on equity of 61.21%. The company had revenue of $73.25 million during the quarter, compared to the consensus estimate of $73.68 million. On average, sell-side analysts expect that RE/MAX Holdings, Inc. will post 0.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RMAX has been the subject of several research analyst reports. Wall Street Zen raised RE/MAX from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Weiss Ratings restated a “sell (d)” rating on shares of RE/MAX in a report on Friday, October 31st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $9.00.

RE/MAX Profile

RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.

Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.