Renaissance Technologies LLC Has $17.75 Million Position in RMR Group Inc (RMR)

Renaissance Technologies LLC lifted its position in RMR Group Inc (NASDAQ:RMR) by 10.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,300 shares of the financial services provider’s stock after acquiring an additional 21,200 shares during the period. Renaissance Technologies LLC’s holdings in RMR Group were worth $17,753,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cim LLC acquired a new stake in shares of RMR Group in the 2nd quarter valued at approximately $214,000. Eqis Capital Management Inc. acquired a new stake in RMR Group during the 2nd quarter worth approximately $225,000. Hartford Investment Management Co. acquired a new stake in RMR Group during the 2nd quarter worth approximately $232,000. Principal Financial Group Inc. acquired a new stake in RMR Group during the 1st quarter worth approximately $219,000. Finally, Advisory Services Network LLC raised its holdings in RMR Group by 79.5% during the 2nd quarter. Advisory Services Network LLC now owns 3,221 shares of the financial services provider’s stock worth $280,000 after buying an additional 1,427 shares during the period. Institutional investors and hedge funds own 18.40% of the company’s stock.

Shares of RMR stock opened at $90.70 on Thursday. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 23.93 and a beta of -0.13. RMR Group Inc has a 52 week low of $49.45 and a 52 week high of $98.00.

RMR Group (NASDAQ:RMR) last announced its earnings results on Wednesday, August 8th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $62.08 million for the quarter, compared to the consensus estimate of $59.03 million. RMR Group had a net margin of 23.43% and a return on equity of 9.97%. equities analysts anticipate that RMR Group Inc will post 2.24 earnings per share for the current fiscal year.

Several analysts have commented on the stock. Zacks Investment Research downgraded shares of RMR Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 25th. B. Riley raised their target price on shares of RMR Group from $88.00 to $89.00 and gave the stock a “$85.80” rating in a report on Thursday, July 19th. Finally, BidaskClub downgraded shares of RMR Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $80.33.

About RMR Group

The RMR Group Inc, through its subsidiary, The RMR Group LLC, provides business and property management services in the United States. It provides management services to its four publicly traded real estate investment trusts (REITs) and three real estate operating companies. As of September 30, 2017, the company had approximately 1,400 properties under management, which are primarily owned by its Managed Equity REITs.

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Institutional Ownership by Quarter for RMR Group (NASDAQ:RMR)

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