RE/MAX (NYSE:RMAX) Upgraded at StockNews.com

RE/MAX (NYSE:RMAX) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

RE/MAX Stock Performance

Shares of NYSE RMAX opened at $8.83 on Thursday. The business’s 50 day moving average price is $9.53 and its 200-day moving average price is $11.01. RE/MAX has a fifty-two week low of $6.94 and a fifty-two week high of $14.31. The company has a market cap of $167.60 million, a price-to-earnings ratio of 25.23 and a beta of 1.32.

RE/MAX (NYSE:RMAX) last issued its earnings results 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). The company had revenue of $72.47 million for the quarter, compared to analysts’ expectations of $74.34 million. RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. Sell-side analysts predict that RE/MAX will post 0.89 earnings per share for the current year.

Insider Buying and Selling at RE/MAX

In other RE/MAX news, major shareholder Adam K. Peterson purchased 13,636 shares of the stock in a transaction on Monday, December 30th. The stock was acquired 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased 40,434 shares of company stock worth $410,729 over the last quarter. Insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On RE/MAX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its position in RE/MAX by 31.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,579 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,336 shares during the last quarter. State of Wyoming acquired a new position in shares of RE/MAX in the 4th quarter valued at $91,000. Quest Partners LLC acquired a new position in shares of RE/MAX in the 3rd quarter valued at $106,000. Martingale Asset Management L P purchased a new position in RE/MAX in the 4th quarter worth $110,000. Finally, Wells Fargo & Company MN lifted its position in RE/MAX by 27.5% during the 4th quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 2,286 shares during the period. 93.17% of the stock is owned by hedge funds and other institutional investors.

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.