Municipal Employees Retirement System of Michigan Takes $220,000 Position in Re/Max Holdings Inc (RMAX)

Municipal Employees Retirement System of Michigan bought a new position in Re/Max Holdings Inc (NYSE:RMAX) during the 4th quarter, HoldingsChannel.com reports. The fund bought 7,160 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. O Shaughnessy Asset Management LLC purchased a new stake in Re/Max in the fourth quarter worth about $64,000. Quantamental Technologies LLC purchased a new stake in Re/Max in the fourth quarter worth about $102,000. Metropolitan Life Insurance Co. NY lifted its holdings in Re/Max by 307.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,013 shares of the financial services provider’s stock worth $185,000 after buying an additional 4,536 shares during the period. Oregon Public Employees Retirement Fund purchased a new stake in Re/Max in the fourth quarter worth about $208,000. Finally, Jefferies Group LLC purchased a new stake in Re/Max in the third quarter worth about $247,000. 99.57% of the stock is currently owned by institutional investors.

Several analysts have commented on RMAX shares. Zacks Investment Research upgraded shares of Re/Max from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Bank of America lowered shares of Re/Max to a “sell” rating and set a $56.00 price objective for the company. in a report on Thursday, December 20th. Compass Point started coverage on shares of Re/Max in a report on Thursday, January 24th. They issued a “neutral” rating and a $40.00 price objective for the company. Morgan Stanley set a $39.00 price objective on shares of Re/Max and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, TheStreet upgraded shares of Re/Max from a “c” rating to a “b-” rating in a report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $50.71.

Shares of RMAX opened at $40.75 on Tuesday. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 2.87. Re/Max Holdings Inc has a one year low of $27.84 and a one year high of $58.65. The stock has a market capitalization of $732.01 million, a price-to-earnings ratio of 20.17, a P/E/G ratio of 2.88 and a beta of 0.88.

Re/Max (NYSE:RMAX) last released its earnings results on Thursday, February 21st. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. Re/Max had a net margin of 12.72% and a return on equity of 84.43%. The firm had revenue of $50.84 million during the quarter, compared to analyst estimates of $50.56 million. During the same period last year, the business earned $0.45 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. Sell-side analysts predict that Re/Max Holdings Inc will post 2.04 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.06%. This is a positive change from Re/Max’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, March 5th. Re/Max’s dividend payout ratio (DPR) is presently 41.58%.

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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. It also provides real estate technology solutions.

Further Reading: How to Invest in Growth Stocks

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

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