Stephens Trims RE/MAX (NYSE:RMAX) Target Price to $9.00

RE/MAX (NYSE:RMAX) had its price target lowered by equities researchers at Stephens from $10.00 to $9.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective would suggest a potential upside of 16.73% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Jonestrading reaffirmed a “hold” rating on shares of RE/MAX in a research note on Friday, March 1st. Keefe, Bruyette & Woods cut their price target on shares of RE/MAX from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 28th. StockNews.com downgraded RE/MAX from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Morgan Stanley decreased their price target on RE/MAX from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.60.

RE/MAX Trading Up 7.7 %

RMAX opened at $7.71 on Monday. The stock has a market capitalization of $140.94 million, a P/E ratio of -1.95 and a beta of 1.42. RE/MAX has a 12 month low of $6.94 and a 12 month high of $20.48. The firm’s fifty day simple moving average is $7.85 and its 200 day simple moving average is $9.71.

RE/MAX (NYSE:RMAX) last released its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $76.60 million for the quarter, compared to the consensus estimate of $77.19 million. RE/MAX had a negative return on equity of 50.09% and a negative net margin of 22.51%. On average, equities research analysts predict that RE/MAX will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other RE/MAX news, EVP Abigail C. Lee sold 4,500 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total transaction of $38,295.00. Following the sale, the executive vice president now directly owns 89,229 shares in the company, valued at $759,338.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other RE/MAX news, EVP Abigail C. Lee sold 4,500 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total transaction of $38,295.00. Following the completion of the sale, the executive vice president now directly owns 89,229 shares in the company, valued at $759,338.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Adam K. Peterson purchased 54,000 shares of the stock in a transaction dated Monday, March 18th. The shares were acquired at an average cost of $7.64 per share, with a total value of $412,560.00. Following the acquisition, the insider now directly owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The disclosure for this purchase can be found here. 5.99% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RMAX. Magnolia Group LLC lifted its stake in shares of RE/MAX by 13.7% in the fourth quarter. Magnolia Group LLC now owns 2,983,843 shares of the financial services provider’s stock worth $39,775,000 after acquiring an additional 358,736 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in RE/MAX by 46.2% during 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 acquiring an additional 334,290 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of RE/MAX during the 3rd quarter valued at about $5,792,000. Russell Investments Group Ltd. acquired a new stake in shares of RE/MAX in the 4th quarter worth about $2,583,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in RE/MAX by 195.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,170 shares of the financial services provider’s stock valued at $1,555,000 after acquiring an additional 79,476 shares in the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.

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.