RE/MAX Holdings, Inc. (NYSE:RMAX) Given Consensus Recommendation of “Reduce” by Brokerages

RE/MAX Holdings, Inc. (NYSE:RMAX) has received an average recommendation of “Reduce” from the five ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $11.90.

A number of research firms recently issued reports on RMAX. StockNews.com upgraded RE/MAX from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Stephens upped their target price on RE/MAX from $9.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Monday, August 12th.

Institutional Trading of RE/MAX

A number of institutional investors have recently modified their holdings of RMAX. Hotchkis & Wiley Capital Management LLC lifted its position in shares of RE/MAX by 46.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,057,780 shares of the financial services provider’s stock worth $14,100,000 after purchasing an additional 334,290 shares during the period. Assenagon Asset Management S.A. purchased a new stake in RE/MAX in the second quarter worth about $1,778,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of RE/MAX by 107.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider’s stock worth $2,560,000 after acquiring an additional 151,036 shares during the period. Blair William & Co. IL raised its position in shares of RE/MAX by 767.5% in the 1st quarter. Blair William & Co. IL now owns 109,611 shares of the financial services provider’s stock worth $961,000 after acquiring an additional 96,976 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of RE/MAX by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 1,121,789 shares of the financial services provider’s stock valued at $9,838,000 after purchasing an additional 94,758 shares during the period. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

RE/MAX Price Performance

NYSE:RMAX opened at $12.45 on Tuesday. The company has a market cap of $227.54 million, a PE ratio of -3.15 and a beta of 1.37. RE/MAX has a one year low of $6.94 and a one year high of $13.70. The firm has a 50-day moving average of $10.83 and a 200-day moving average of $9.13.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $78.45 million for the quarter, compared to analyst estimates of $78.16 million. RE/MAX had a negative return on equity of 35.12% and a negative net margin of 22.26%. On average, equities research analysts expect that RE/MAX will post 0.75 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.