RE/MAX Holdings, Inc. (NYSE:RMAX) Receives $11.60 Average Price Target from Analysts

RE/MAX Holdings, Inc. (NYSE:RMAX) has received an average recommendation of “Reduce” from the six research firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $11.60.

A number of analysts have recently commented on RMAX shares. Stephens dropped their price objective on RE/MAX from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, May 6th. Keefe, Bruyette & Woods dropped 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. Jonestrading restated a “hold” rating on shares of RE/MAX in a research report on Friday, March 1st. Finally, Morgan Stanley dropped their target price on shares of RE/MAX from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Wednesday, April 10th.

Insider Buying and Selling at RE/MAX

In other news, major shareholder Adam K. Peterson bought 46,629 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were acquired at an average cost of $8.30 per share, with a total value of $387,020.70. Following the completion of the transaction, the insider now directly owns 3,084,472 shares in the company, valued at approximately $25,601,117.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Leah R. Jenkins sold 3,682 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $9.76, for a total value of $35,936.32. Following the completion of the sale, the chief accounting officer now directly owns 25,333 shares of the company’s stock, valued at approximately $247,250.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Adam K. Peterson bought 46,629 shares of the stock in a transaction on Tuesday, June 18th. The shares were acquired at an average cost of $8.30 per share, for a total transaction of $387,020.70. Following the purchase, the insider now owns 3,084,472 shares in the company, valued at $25,601,117.60. The disclosure for this purchase can be found here. Insiders own 5.99% of the company’s stock.

Institutional Trading of RE/MAX

Several institutional investors have recently made changes to their positions in the stock. Jump Financial LLC increased its stake in RE/MAX by 2.3% in the 4th 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. SG Americas Securities LLC increased its stake in shares of RE/MAX by 12.7% in the first quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,469 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of RE/MAX by 14.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 12,212 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 1,557 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in RE/MAX by 15.5% during 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 purchasing an additional 1,644 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in RE/MAX by 7.9% during the first quarter. Empowered Funds LLC now owns 50,524 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 3,687 shares during the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.

RE/MAX Stock Down 1.7 %

Shares of RMAX opened at $8.02 on Wednesday. The firm has a market capitalization of $146.57 million, a PE ratio of -2.03 and a beta of 1.36. The firm has a 50-day moving average price of $8.18 and a 200 day moving average price of $9.31. RE/MAX has a 52-week low of $6.94 and a 52-week high of $20.48.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. RE/MAX had a negative net margin of 22.51% and a negative return on equity of 50.09%. The business had revenue of $78.29 million during the quarter, compared to analysts’ expectations of $78.14 million. On average, equities analysts expect that RE/MAX will post 0.7 EPS for the current year.

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.