Renaissance Technologies LLC Has $6.37 Million Stake in RE/MAX Holdings, Inc. (NYSE:RMAX)

Renaissance Technologies LLC decreased its position in shares of RE/MAX Holdings, Inc. (NYSE:RMAX - Free Report) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 786,100 shares of the financial services provider's stock after selling 109,800 shares during the quarter. Renaissance Technologies LLC owned 4.30% of RE/MAX worth $6,367,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in shares of RE/MAX in the 2nd quarter valued at $153,000. Magnolia Group LLC boosted its stake in RE/MAX by 2.8% in 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 buying an additional 86,309 shares in the last quarter. Rhumbline Advisers boosted its stake in RE/MAX by 7.6% in the second quarter. Rhumbline Advisers now owns 29,174 shares of the financial services provider's stock valued at $236,000 after buying an additional 2,054 shares in the last quarter. Summit Securities Group LLC bought a new position in RE/MAX in the second quarter valued at about $180,000. Finally, Bank of New York Mellon Corp raised its stake in RE/MAX by 23.2% during the second quarter. Bank of New York Mellon Corp now owns 82,119 shares of the financial services provider's stock worth $665,000 after acquiring an additional 15,479 shares in the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at RE/MAX

In other news, major shareholder Adam K. Peterson bought 26,000 shares of the firm's stock in a transaction on Monday, July 1st. The stock was acquired at an average price of $8.03 per share, with a total value of $208,780.00. Following the transaction, the insider now owns 3,150,152 shares of the company's stock, valued at approximately $25,295,720.56. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other RE/MAX news, major shareholder Adam K. Peterson acquired 23,500 shares of the company's stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $8.27 per share, with a total value of $194,345.00. Following the purchase, the insider now directly owns 3,124,152 shares of the company's stock, valued at $25,836,737.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Adam K. Peterson bought 26,000 shares of the firm's stock in a transaction that occurred on Monday, July 1st. The shares were acquired at an average cost of $8.03 per share, with a total value of $208,780.00. Following the purchase, the insider now directly owns 3,150,152 shares of the company's stock, valued at $25,295,720.56. The disclosure for this purchase can be found here. Corporate insiders own 5.99% of the company's stock.

RE/MAX Trading Up 0.5 %

NYSE:RMAX traded up $0.07 during mid-day trading on Thursday, hitting $12.87. 248,674 shares of the company's stock were exchanged, compared to its average volume of 274,344. RE/MAX Holdings, Inc. has a fifty-two week low of $6.94 and a fifty-two week high of $14.72. The company has a 50 day simple moving average of $10.71 and a 200-day simple moving average of $9.06. The firm has a market capitalization of $235.21 million, a P/E ratio of -3.26 and a beta of 1.37.

RE/MAX (NYSE:RMAX - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. The company had revenue of $78.45 million for the quarter, compared to analysts' expectations of $78.16 million. RE/MAX had a negative net margin of 22.26% and a negative return on equity of 35.12%. As a group, analysts expect that RE/MAX Holdings, Inc. will post 0.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RMAX. StockNews.com upgraded shares of RE/MAX from a "hold" rating to a "buy" rating in a research note on Tuesday, September 10th. Stephens boosted their target price on shares of RE/MAX from $9.00 to $10.50 and gave the stock an "equal weight" rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, RE/MAX presently has an average rating of "Hold" and an average target price of $11.90.

RE/MAX 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.