Texas Permanent School Fund Has $357,000 Position in Re/Max Holdings Inc (RMAX)

Texas Permanent School Fund lifted its stake in shares of Re/Max Holdings Inc (NYSE:RMAX) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,613 shares of the financial services provider’s stock after acquiring an additional 447 shares during the quarter. Texas Permanent School Fund owned about 0.07% of Re/Max worth $357,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Legal & General Group Plc grew its position in Re/Max by 8.9% in the third quarter. Legal & General Group Plc now owns 38,181 shares of the financial services provider’s stock worth $1,687,000 after buying an additional 3,131 shares during the last quarter. Vanguard Group Inc. grew its position in Re/Max by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,978,312 shares of the financial services provider’s stock worth $87,738,000 after purchasing an additional 145,307 shares in the last quarter. BlackRock Inc. grew its position in Re/Max by 5.2% during the 3rd quarter. BlackRock Inc. now owns 2,559,945 shares of the financial services provider’s stock worth $113,532,000 after purchasing an additional 127,191 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in Re/Max by 213.9% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 123,992 shares of the financial services provider’s stock worth $5,499,000 after purchasing an additional 84,492 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Re/Max during the 3rd quarter worth approximately $252,000. Hedge funds and other institutional investors own 99.57% of the company’s stock.

Shares of NYSE:RMAX traded down $0.63 during trading on Monday, reaching $40.75. 55,569 shares of the company traded hands, compared to its average volume of 112,088. The firm has a market capitalization of $732.01 million, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.88 and a beta of 0.88. Re/Max Holdings Inc has a 1-year low of $27.84 and a 1-year high of $58.65. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 2.87.

Re/Max (NYSE:RMAX) last issued its earnings results on Thursday, February 21st. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. The company had revenue of $50.84 million during the quarter, compared to analyst estimates of $50.56 million. Re/Max had a net margin of 12.72% and a return on equity of 84.43%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.45 EPS. Equities research analysts expect that Re/Max Holdings Inc will post 2.04 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.06%. This is a positive change from Re/Max’s previous quarterly dividend of $0.20. Re/Max’s dividend payout ratio (DPR) is 41.58%.

Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Re/Max from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. TheStreet upgraded shares of Re/Max from a “c” rating to a “b-” rating in a research report on Monday, March 11th. Morgan Stanley set a $39.00 price objective on shares of Re/Max and gave the stock a “buy” rating in a research report on Monday, March 18th. Compass Point assumed coverage on shares of Re/Max in a research report on Thursday, January 24th. They set a “neutral” rating and a $40.00 price objective on the stock. Finally, Bank of America cut shares of Re/Max to a “sell” rating and set a $56.00 price objective on the stock. in a research report on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $50.71.

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Re/Max Company Profile

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. It also provides real estate technology solutions.

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Institutional Ownership by Quarter for Re/Max (NYSE:RMAX)

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