Connor Clark & Lunn Investment Management Ltd. Sells 139,910 Shares of RE/MAX Holdings, Inc. (NYSE:RMAX)

Connor Clark & Lunn Investment Management Ltd. cut its stake in RE/MAX Holdings, Inc. (NYSE:RMAX) by 39.5% in the 4th quarter, Holdings Channel reports. The firm owned 214,741 shares of the financial services provider’s stock after selling 139,910 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in RE/MAX were worth $2,291,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp raised its stake in RE/MAX by 6.6% in the third quarter. State Street Corp now owns 435,652 shares of the financial services provider’s stock worth $5,424,000 after buying an additional 27,131 shares in the last quarter. Geode Capital Management LLC raised its position in shares of RE/MAX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 415,791 shares of the financial services provider’s stock worth $5,178,000 after acquiring an additional 7,688 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of RE/MAX by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 151,779 shares of the financial services provider’s stock worth $1,619,000 after acquiring an additional 1,092 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of RE/MAX by 145.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 120,247 shares of the financial services provider’s stock valued at $1,497,000 after purchasing an additional 71,215 shares during the period. Finally, Empowered Funds LLC grew its stake in RE/MAX by 104.1% in the fourth quarter. Empowered Funds LLC now owns 116,595 shares of the financial services provider’s stock worth $1,244,000 after purchasing an additional 59,477 shares during the period. 93.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised RE/MAX from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 11th.

Insider Buying and Selling

In other news, major shareholder Adam K. Peterson acquired 13,636 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $10.45 per share, for a total transaction of $142,496.20. Following the acquisition, the insider now directly owns 3,221,131 shares in the company, valued at approximately $33,660,818.95. The trade was a 0.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought a total of 40,434 shares of company stock worth $410,729 in the last quarter. Corporate insiders own 5.99% of the company’s stock.

RE/MAX Stock Performance

RMAX stock opened at $8.81 on Wednesday. The firm has a 50 day moving average price of $9.62 and a 200-day moving average price of $11.10. RE/MAX Holdings, Inc. has a 52-week low of $6.94 and a 52-week high of $14.31. The firm has a market capitalization of $167.32 million, a price-to-earnings ratio of 25.18 and a beta of 1.32.

RE/MAX (NYSE:RMAX) last announced its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. The company had revenue of $72.47 million for the quarter, compared to analysts’ expectations of $74.34 million. As a group, sell-side analysts forecast that RE/MAX Holdings, Inc. will post 0.89 earnings per share for the current fiscal year.

About RE/MAX

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.