RE/MAX (NYSE:RMAX) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of RE/MAX (NYSE:RMAX) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Separately, Stephens raised their price target on shares of RE/MAX from $9.00 to $10.50 and gave the stock an equal weight rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $11.90.

RE/MAX Stock Up 0.4 %

RMAX stock opened at $11.01 on Tuesday. The firm has a market cap of $207.65 million, a PE ratio of -2.79 and a beta of 1.36. The business has a 50 day moving average of $9.94 and a 200-day moving average of $8.76. RE/MAX has a 12-month low of $6.94 and a 12-month high of $15.54.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.33 earnings per share for the quarter, topping 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 company had revenue of $78.45 million for the quarter, compared to the consensus estimate of $78.16 million. On average, research analysts expect that RE/MAX will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Adam K. Peterson purchased 23,500 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $8.27 per share, for a total transaction of $194,345.00. Following the completion of the transaction, the insider now directly owns 3,124,152 shares in the company, valued at approximately $25,836,737.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other RE/MAX news, major shareholder Adam K. Peterson purchased 26,000 shares of the stock in a transaction on Monday, July 1st. The shares were purchased at an average price of $8.03 per share, with a total value of $208,780.00. Following the acquisition, the insider now directly owns 3,150,152 shares in the company, valued at approximately $25,295,720.56. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Adam K. Peterson acquired 23,500 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $8.27 per share, with a total value of $194,345.00. Following the acquisition, the insider now directly owns 3,124,152 shares of the company’s stock, valued at approximately $25,836,737.04. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 100,309 shares of company stock valued at $824,351. Corporate insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On RE/MAX

A number of hedge funds and other institutional investors have recently modified their holdings of RMAX. Russell Investments Group Ltd. purchased a new stake in shares of RE/MAX in the 4th quarter valued at $2,583,000. Jump Financial LLC boosted its position in RE/MAX by 2.3% during the fourth quarter. Jump Financial LLC now owns 45,800 shares of the financial services provider’s stock valued at $611,000 after buying an additional 1,028 shares during the period. Pinnacle Wealth Planning Services Inc. bought a new position in shares of RE/MAX during the fourth quarter valued at about $141,000. Quest Partners LLC purchased a new position in shares of RE/MAX in the fourth quarter worth about $183,000. Finally, Oxford Asset Management LLP bought a new stake in shares of RE/MAX in the 4th quarter valued at about $166,000. 93.17% of the stock is currently 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.