Maxim Group Initiates Coverage on The RMR Group (NASDAQ:RMR)

Equities research analysts at Maxim Group assumed coverage on shares of The RMR Group (NASDAQ:RMR) in a research note issued to investors on Friday, Briefing.com reports. The firm set a “buy” rating and a $26.00 price target on the financial services provider’s stock. Maxim Group’s price target suggests a potential upside of 46.81% from the stock’s previous close.

Separately, Weiss Ratings cut The RMR Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, September 1st. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.33.

The RMR Group Stock Up 0.5%

RMR stock opened at $17.71 on Friday. The stock has a market cap of $568.14 million, a PE ratio of 15.54 and a beta of 1.00. The firm’s 50-day simple moving average is $19.10 and its 200 day simple moving average is $19.02. The RMR Group has a fifty-two week low of $14.27 and a fifty-two week high of $21.45. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.06.

The RMR Group (NASDAQ:RMR) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). The RMR Group had a return on equity of 2.96% and a net margin of 3.10%.The firm had revenue of $153.51 million during the quarter, compared to the consensus estimate of $147.60 million. As a group, sell-side analysts predict that The RMR Group will post 0.63 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its position in The RMR Group by 139,802.2% in the second quarter. NewEdge Advisors LLC now owns 64,355 shares of the financial services provider’s stock worth $1,321,000 after purchasing an additional 64,309 shares during the period. Triumph Capital Management increased its position in shares of The RMR Group by 117.7% during the 2nd quarter. Triumph Capital Management now owns 3,052 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,650 shares during the period. Globeflex Capital L P acquired a new position in shares of The RMR Group during the 2nd quarter valued at $852,000. Bank of America Corp DE raised its stake in shares of The RMR Group by 76.1% in the 1st quarter. Bank of America Corp DE now owns 941,252 shares of the financial services provider’s stock worth $14,561,000 after buying an additional 406,888 shares in the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of The RMR Group by 16.3% in the 1st quarter. Quantinno Capital Management LP now owns 66,829 shares of the financial services provider’s stock worth $1,034,000 after buying an additional 9,347 shares in the last quarter. Institutional investors and hedge funds own 42.31% of the company’s stock.

About The RMR Group

The RMR Group Inc is an alternative asset management company that provides management services to publicly traded and private real estate companies. Its platform supports businesses that own and operate commercial real estate, including office, industrial, healthcare, senior living, hotel, and other property types.

RMR’s services include property and asset management, leasing, acquisitions and dispositions, development and redevelopment, construction management, financing support, and strategic planning.