Prudential Financial Inc. Acquires 9,169 Shares of RE/MAX Holdings, Inc. (NYSE:RMAX)

Prudential Financial Inc. lifted its holdings in RE/MAX Holdings, Inc. (NYSE:RMAX) by 39.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,469 shares of the financial services provider’s stock after purchasing an additional 9,169 shares during the quarter. Prudential Financial Inc. owned 0.17% of RE/MAX worth $1,083,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in shares of RE/MAX in the second quarter worth $1,142,000. Victory Capital Management Inc. raised its position in RE/MAX by 23.2% during the second quarter. Victory Capital Management Inc. now owns 144,317 shares of the financial services provider’s stock worth $4,810,000 after acquiring an additional 27,164 shares in the last quarter. Clearbridge Investments LLC bought a new stake in RE/MAX during the second quarter worth $259,000. Northern Trust Corp raised its position in RE/MAX by 1.3% during the second quarter. Northern Trust Corp now owns 253,241 shares of the financial services provider’s stock worth $8,442,000 after acquiring an additional 3,240 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in RE/MAX by 335.7% during the second quarter. Bridgeway Capital Management LLC now owns 122,000 shares of the financial services provider’s stock worth $4,066,000 after acquiring an additional 94,000 shares in the last quarter. 89.56% of the stock is currently owned by institutional investors and hedge funds.

NYSE:RMAX opened at $28.45 on Thursday. RE/MAX Holdings, Inc. has a one year low of $28.31 and a one year high of $43.85. The company has a market cap of $537.45 million, a P/E ratio of 48.22 and a beta of 1.46. The firm’s fifty day moving average price is $31.41 and its two-hundred day moving average price is $33.06. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.16 and a quick ratio of 2.16.

RE/MAX (NYSE:RMAX) last released its quarterly earnings data on Monday, November 22nd. The financial services provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.08. RE/MAX had a net margin of 3.80% and a return on equity of 40.36%. The firm had revenue of $91.00 million for the quarter, compared to the consensus estimate of $89.80 million. During the same period in the previous year, the company earned $0.64 earnings per share. The company’s quarterly revenue was up 28.0% on a year-over-year basis. As a group, equities research analysts expect that RE/MAX Holdings, Inc. will post 1.46 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Wednesday, November 17th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, November 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.23%. RE/MAX’s dividend payout ratio (DPR) is presently 155.93%.

Several analysts have issued reports on the stock. Morgan Stanley lowered shares of RE/MAX from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $40.00 to $33.50 in a research report on Wednesday, September 22nd. Zacks Investment Research raised shares of RE/MAX from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Friday, November 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.90.

About RE/MAX

RE/MAX Holdings, Inc engages in the provision of real estate franchise services through its subsidiaries. It operates through the following segments: Real Estate, Mortgage, Marketing Funds, and Other. The Real Estate segment inlcude operations of the company’s owned and independent global franchising operations under the RE/MAX brand name and technology and data subscription revenue.

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Institutional Ownership by Quarter for RE/MAX (NYSE:RMAX)

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