RE/MAX (NYSE:RMAX) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of RE/MAX (NYSE:RMAX) from a buy rating to a hold rating in a research note published on Monday.

Separately, Stephens upped their price objective on RE/MAX from $9.00 to $10.50 and gave the company an equal weight rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $11.90.

RE/MAX Stock Performance

RMAX stock opened at $11.32 on Monday. RE/MAX has a 52 week low of $6.94 and a 52 week high of $16.64. The firm’s fifty day moving average is $9.50 and its 200 day moving average is $8.66. The firm has a market cap of $206.88 million, a P/E ratio of -2.87 and a beta of 1.37.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. RE/MAX had a negative net margin of 22.26% and a negative return on equity of 35.12%. The firm had revenue of $78.45 million for the quarter, compared to analyst estimates of $78.16 million. As a group, analysts forecast that RE/MAX will post 0.73 EPS for the current year.

Insider Buying and Selling

In other RE/MAX news, major shareholder Adam K. Peterson purchased 23,500 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $8.27 per share, for a total transaction of $194,345.00. Following the completion of the purchase, the insider now owns 3,124,152 shares of the company’s stock, valued at $25,836,737.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Adam K. Peterson acquired 46,629 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were acquired at an average cost of $8.30 per share, with a total value of $387,020.70. Following the completion of the acquisition, the insider now directly owns 3,084,472 shares in the company, valued at approximately $25,601,117.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Adam K. Peterson bought 23,500 shares of RE/MAX stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $8.27 per share, with a total value of $194,345.00. Following the completion of the transaction, the insider now directly owns 3,124,152 shares of the company’s stock, valued at $25,836,737.04. The disclosure for this purchase can be found here. Insiders bought a total of 100,309 shares of company stock worth $824,351 in the last 90 days. 5.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RE/MAX

Several large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its stake in shares of RE/MAX by 19,729.6% during the second quarter. Nisa Investment Advisors LLC now owns 5,354 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 5,327 shares in the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of RE/MAX during the fourth quarter worth about $141,000. Patron Partners LLC purchased a new position in shares of RE/MAX during the first quarter worth approximately $93,000. Oxford Asset Management LLP purchased a new stake in shares of RE/MAX in the fourth quarter valued at about $166,000. Finally, SG Americas Securities LLC grew its stake in shares of RE/MAX by 12.7% in the 1st quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 1,469 shares during the last quarter. Institutional investors and hedge funds own 93.17% of the company’s stock.

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.