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

Shares of RE/MAX Holdings, Inc. (NYSE:RMAX) have been given a consensus recommendation of “Reduce” by the six research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $11.60.

Several equities analysts have commented on RMAX shares. Stephens dropped their target price on RE/MAX from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, May 6th. Morgan Stanley lowered their price objective on RE/MAX from $9.00 to $7.00 and set an “underweight” rating for the company in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods lowered their price objective on RE/MAX from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Wednesday, February 28th. Jonestrading restated a “hold” rating on shares of RE/MAX in a research report on Friday, March 1st. Finally, StockNews.com downgraded RE/MAX from a “buy” rating to a “hold” rating in a research report on Monday, February 26th.

RE/MAX Trading Up 1.3 %

RE/MAX stock opened at $8.09 on Friday. The company has a market capitalization of $147.89 million, a PE ratio of -2.05 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 stock has a 50-day moving average price of $8.09 and a two-hundred day moving average price of $9.48.

RE/MAX (NYSE:RMAX) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $78.29 million during the quarter, compared to the consensus estimate of $78.14 million. RE/MAX had a negative return on equity of 50.09% and a negative net margin of 22.51%. As a group, analysts predict that RE/MAX will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Abigail C. Lee sold 5,243 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $8.05, for a total transaction of $42,206.15. Following the completion of the sale, the executive vice president now owns 83,986 shares of the company’s stock, valued at $676,087.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Adam K. Peterson acquired 54,000 shares of RE/MAX stock in a transaction on Monday, March 18th. The stock was purchased at an average price of $7.64 per share, with a total value of $412,560.00. Following the completion of the purchase, the insider now owns 3,037,843 shares of the company’s stock, valued at approximately $23,209,120.52. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Abigail C. Lee sold 5,243 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $8.05, for a total value of $42,206.15. Following the completion of the sale, the executive vice president now directly owns 83,986 shares of the company’s stock, valued at approximately $676,087.30. The disclosure for this sale can be found here. Insiders sold 13,425 shares of company stock valued at $116,437 over the last 90 days. Company insiders own 5.99% of the company’s stock.

Institutional Investors Weigh In On RE/MAX

A number of hedge funds have recently added to or reduced their stakes in RMAX. Allspring Global Investments Holdings LLC acquired a new stake in RE/MAX in the third quarter valued at approximately $35,000. Patron Partners LLC acquired a new stake in RE/MAX in the first quarter valued at approximately $93,000. Pinnacle Wealth Planning Services Inc. grew its stake in RE/MAX by 15.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 12,222 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 1,644 shares during the period. SG Americas Securities LLC boosted its position in shares of RE/MAX by 12.7% during the first quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock valued at $114,000 after buying an additional 1,469 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC purchased a new position in shares of RE/MAX during the fourth quarter valued at approximately $139,000. Institutional investors and hedge funds own 93.17% of the company’s stock.

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.