Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in RE/MAX Holdings, Inc. (NYSE:RMAX)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of RE/MAX Holdings, Inc. (NYSE:RMAX - Free Report) by 229.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 354,651 shares of the financial services provider's stock after buying an additional 247,131 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.88% of RE/MAX worth $4,415,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RMAX. Vanguard Group Inc. increased its holdings in shares of RE/MAX by 9.2% during the first quarter. Vanguard Group Inc. now owns 1,121,789 shares of the financial services provider's stock worth $9,838,000 after buying an additional 94,758 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in RE/MAX by 107.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider's stock valued at $2,560,000 after purchasing an additional 151,036 shares during the last quarter. Magnolia Group LLC boosted its stake in shares of RE/MAX by 2.8% during the second quarter. Magnolia Group LLC now owns 3,124,152 shares of the financial services provider's stock valued at $25,306,000 after purchasing an additional 86,309 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of RE/MAX during the second quarter worth about $1,778,000. Finally, AQR Capital Management LLC increased its stake in shares of RE/MAX by 14.9% in the second quarter. AQR Capital Management LLC now owns 516,953 shares of the financial services provider's stock valued at $4,187,000 after buying an additional 66,960 shares during the period. 93.17% of the stock is owned by institutional investors.

Insider Activity at RE/MAX

In other news, major shareholder Adam K. Peterson acquired 27,366 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $10.96 per share, for a total transaction of $299,931.36. Following the completion of the purchase, the insider now owns 3,178,040 shares in the company, valued at approximately $34,831,318.40. This trade represents a 0.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.99% of the stock is owned by insiders.

RE/MAX Stock Performance

Shares of NYSE RMAX traded up $1.62 during trading on Friday, hitting $13.23. 553,797 shares of the company traded hands, compared to its average volume of 257,300. The business's fifty day moving average is $12.10 and its 200 day moving average is $10.31. The firm has a market capitalization of $249.65 million, a price-to-earnings ratio of -24.50 and a beta of 1.36. RE/MAX Holdings, Inc. has a fifty-two week low of $6.94 and a fifty-two week high of $13.70.

Wall Street Analyst Weigh In

RMAX has been the subject of several analyst reports. Stephens raised their price target on shares of RE/MAX from $9.00 to $10.50 and gave the company an "equal weight" rating in a research note on Monday, August 12th. StockNews.com lowered shares of RE/MAX from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, RE/MAX has an average rating of "Hold" and a consensus price target of $10.38.

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.