RE/MAX (NYSE:RMAX) Cut to Buy at StockNews.com

StockNews.com downgraded shares of RE/MAX (NYSE:RMAX) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

RE/MAX Stock Down 3.4 %

Shares of RE/MAX stock opened at $8.87 on Wednesday. The stock has a market cap of $168.38 million, a PE ratio of 25.34 and a beta of 1.32. The business has a fifty day simple moving average of $9.57 and a 200-day simple moving average of $11.05. RE/MAX has a 12 month low of $6.94 and a 12 month high of $14.31.

RE/MAX (NYSE:RMAX) last issued its 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 negative return on equity of 38.69% and a net margin of 2.32%. Analysts expect that RE/MAX will post 0.89 EPS for the current fiscal year.

Insider Activity at RE/MAX

In related news, major shareholder Adam K. Peterson purchased 15,000 shares of RE/MAX stock in a transaction on Thursday, January 2nd. The stock was bought at an average price of $10.30 per share, with a total value of $154,500.00. Following the completion of the transaction, the insider now directly owns 3,236,131 shares of the company’s stock, valued at approximately $33,332,149.30. This represents a 0.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders bought 40,434 shares of company stock valued at $410,729. Insiders own 5.99% of the company’s stock.

Institutional Trading of RE/MAX

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its position in shares of 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 worth $60,000 after buying an additional 1,336 shares during the last quarter. State of Wyoming bought a new position in shares of RE/MAX in the fourth quarter worth about $91,000. Quest Partners LLC bought a new position in shares of RE/MAX in the third quarter worth about $106,000. Martingale Asset Management L P bought a new position in shares of RE/MAX in the fourth quarter worth about $110,000. Finally, Wells Fargo & Company MN increased its stake in shares of RE/MAX by 27.5% in the fourth quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 2,286 shares during the period. Institutional investors and hedge funds own 93.17% of the company’s stock.

RE/MAX Company 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.