Hillsdale Investment Management Inc. Acquires Shares of 24,000 RE/MAX Holdings, Inc. (NYSE:RMAX)

Hillsdale Investment Management Inc. bought a new position in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,000 shares of the financial services provider’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Harbor Capital Advisors Inc. raised its holdings in RE/MAX by 31.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,579 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 1,336 shares in the last quarter. Quest Partners LLC bought a new stake in shares of RE/MAX in the 3rd quarter worth about $106,000. Quantinno Capital Management LP acquired a new stake in shares of RE/MAX in the 3rd quarter valued at about $135,000. Paloma Partners Management Co bought a new position in shares of RE/MAX during the third quarter worth about $143,000. Finally, XTX Topco Ltd acquired a new position in RE/MAX in the third quarter worth about $145,000. 93.17% of the stock is owned by hedge funds and other institutional investors.

RE/MAX Price Performance

RE/MAX stock opened at $9.10 on Tuesday. RE/MAX Holdings, Inc. has a 12 month low of $6.94 and a 12 month high of $14.31. The company has a fifty day moving average price of $9.56 and a two-hundred day moving average price of $11.04. The company has a market cap of $172.65 million, a PE ratio of 25.99 and a beta of 1.32.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings results on Thursday, February 20th. The financial services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.10). The business had revenue of $72.47 million during the quarter, compared to analyst estimates of $74.34 million. RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. Equities research analysts anticipate that RE/MAX Holdings, Inc. will post 0.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut RE/MAX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 19th.

Insider Activity

In other news, major shareholder Adam K. Peterson purchased 13,636 shares of RE/MAX stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $10.45 per share, with a total value of $142,496.20. Following the completion of the acquisition, the insider now owns 3,221,131 shares in the company, valued at $33,660,818.95. The trade was a 0.43 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders purchased 40,434 shares of company stock valued at $410,729. 5.99% of the stock is currently owned by insiders.

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.