Russell Investments Group Ltd. Makes New $1.57 Million Investment in RE/MAX Holdings, Inc. (NYSE:RMAX)

August 18, 2022 Beth McCandry

Russell Investments Group Ltd. bought a new position in RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 56,538 shares of the financial services provider’s stock, valued at approximately $1,566,000. Russell Investments Group Ltd. owned 0.30% of RE/MAX at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RMAX. Lazard Asset Management LLC grew its position in shares of RE/MAX by 76.0% during the 4th quarter. Lazard Asset Management LLC now owns 2,165 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 935 shares during the period. Clearstead Advisors LLC bought a new stake in shares of RE/MAX during the 1st quarter valued at $72,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of RE/MAX by 143.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,708 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 1,594 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of RE/MAX during the 4th quarter valued at $231,000. Finally, Summit Global Investments bought a new stake in shares of RE/MAX during the 1st quarter valued at $232,000. Institutional investors own 94.37% of the company’s stock.

RE/MAX Trading Down 2.0%

Shares of RMAX stock opened at $26.82 on Thursday. RE/MAX Holdings, Inc. has a 1 year low of $21.48 and a 1 year high of $34.32. The firm has a fifty-day moving average price of $24.83 and a 200-day moving average price of $26.12. The company has a debt-to-equity ratio of 7.01, a current ratio of 2.17 and a quick ratio of 2.17. The company has a market cap of $516.71 million, a price-to-earnings ratio of -33.52 and a beta of 1.27.

RE/MAX (NYSE:RMAX – Get Rating) last released its earnings results on Thursday, August 4th. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. RE/MAX had a negative net margin of 4.06% and a positive return on equity of 88.21%. The company had revenue of $92.17 million for the quarter, compared to analysts’ expectations of $92.54 million. During the same quarter in the previous year, the company earned $0.51 EPS. RE/MAX’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities analysts predict that RE/MAX Holdings, Inc. will post 1.86 earnings per share for the current year.

RE/MAX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Tuesday, August 16th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, August 15th. RE/MAX’s dividend payout ratio (DPR) is -115.00%.

Insider Activity at RE/MAX

In other news, major shareholder Adam K. Peterson bought 12,000 shares of the stock in a transaction that occurred on Monday, July 18th. The shares were bought at an average price of $24.37 per share, for a total transaction of $292,440.00. Following the purchase, the insider now owns 2,120,805 shares in the company, valued at $51,684,017.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Adam K. Peterson purchased 12,000 shares of the firm’s stock in a transaction on Monday, July 18th. The shares were acquired at an average price of $24.37 per share, for a total transaction of $292,440.00. Following the purchase, the insider now directly owns 2,120,805 shares in the company, valued at $51,684,017.85. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Adam K. Peterson purchased 40,239 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was bought at an average price of $21.94 per share, for a total transaction of $882,843.66. Following the purchase, the insider now owns 2,008,492 shares in the company, valued at $44,066,314.48. The disclosure for this purchase can be found here. In the last quarter, insiders bought 123,885 shares of company stock worth $2,887,325. 3.37% of the stock is owned by corporate insiders.

RE/MAX profiles

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RE/MAX Holdings, Inc operates as a franchiser of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company operates through three segments: Real Estate, Mortgage, and Marketing Funds. It 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.

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