Victory Capital Management Inc. Reduces Stock Position in RE/MAX Holdings, Inc. (NYSE:RMAX)

August 24, 2022 Beth McCandry

Victory Capital Management Inc. reduced its holdings in shares of RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating) by 88.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,026 shares of the financial services provider’s stock after selling 201,017 shares during the quarter. Victory Capital Management Inc. owned about 0.13% of RE/MAX worth $587,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Rhumbline Advisers increased its holdings in RE/MAX by 1.6% during the 4th quarter. Rhumbline Advisers now owns 56,307 shares of the financial services provider’s stock worth $1,717,000 after acquiring an additional 907 shares during the period. Lazard Asset Management LLC increased its holdings in 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 worth $66,000 after acquiring an additional 935 shares during the period. Westpac Banking Corp increased its holdings in RE/MAX by 6.4% during the 4th quarter. Westpac Banking Corp now owns 18,410 shares of the financial services provider’s stock worth $561,000 after acquiring an additional 1,110 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in 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 worth $83,000 after acquiring an additional 1,594 shares during the period. Finally, First Trust Advisors LP increased its holdings in RE/MAX by 14.1% during the 4th quarter. First Trust Advisors LP now owns 30,644 shares of the financial services provider’s stock worth $934,000 after acquiring an additional 3,786 shares during the period. Institutional investors own 94.37% of the company’s stock.

Insider Buying and Selling at RE/MAX

In other RE/MAX news, major shareholder Adam K. Peterson acquired 40,239 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The shares were bought at an average price of $21.94 per share, with a total value of $882,843.66. Following the completion of the acquisition, the insider now owns 2,008,492 shares in the company, valued at approximately $44,066,314.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Adam K. Peterson bought 40,239 shares of the stock in a transaction dated Thursday, June 16th. The shares were purchased at an average price of $21.94 per share, with a total value of $882,843.66. Following the completion of the acquisition, the insider now owns 2,008,492 shares of the company’s stock, valued at $44,066,314.48. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Adam K. Peterson purchased 22,515 shares of RE/MAX stock in a transaction that occurred on Tuesday, June 28th. The stock was acquired at an average price of $23.90 per share, for a total transaction of $538,108.50. Following the transaction, the insider now directly owns 2,064,109 shares of the company’s stock, valued at approximately $49,332,205.10. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 123,885 shares of company stock worth $2,887,325. 3.37% of the stock is owned by corporate insiders.

RE/MAX stock performance

RE/MAX stock opened at $26.18 on Friday. The firm’s 50 day simple moving average is $24.93 and its 200 day simple moving average is $26.07. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 7.01. The firm has a market capitalization of $504.38 million, a PE ratio of -32.72 and a beta of 1.27. RE/MAX Holdings, Inc. has a 1-year low of $21.48 and a 1-year high of $34.32.

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

RE/MAX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 30th. Stockholders of record on Tuesday, August 16th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, August 15th. RE/MAX’s payout ratio is -115.00%.

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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