RE/MAX (NYSE:RMAX) Rating Increased to Buy at StockNews.com

RE/MAX (NYSE:RMAX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Separately, Stephens raised their target price on shares of RE/MAX from $9.00 to $10.50 and gave the company 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 issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.90.

RE/MAX Price Performance

Shares of NYSE:RMAX opened at $10.97 on Tuesday. The firm has a fifty day moving average price of $9.88 and a two-hundred day moving average price of $8.75. The company has a market cap of $200.49 million, a price-to-earnings ratio of -2.78 and a beta of 1.37. RE/MAX has a one year low of $6.94 and a one year high of $15.54.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.11. The company had revenue of $78.45 million during the quarter, compared to analyst estimates of $78.16 million. RE/MAX had a negative return on equity of 35.12% and a negative net margin of 22.26%. Equities research analysts expect that RE/MAX will post 0.73 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Adam K. Peterson bought 23,500 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $8.27 per share, with a total value of $194,345.00. Following the completion of the purchase, the insider now directly owns 3,124,152 shares in the company, valued at $25,836,737.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Adam K. Peterson acquired 46,629 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were purchased at an average price of $8.30 per share, for a total transaction of $387,020.70. Following the completion of the acquisition, the insider now owns 3,084,472 shares in the company, valued at $25,601,117.60. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Adam K. Peterson bought 23,500 shares of the stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $8.27 per share, with a total value of $194,345.00. Following the purchase, the insider now owns 3,124,152 shares in the company, valued at approximately $25,836,737.04. The disclosure for this purchase can be found here. In the last three months, insiders have bought 100,309 shares of company stock worth $824,351. 5.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RE/MAX

Large investors have recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of RE/MAX by 46.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,057,780 shares of the financial services provider’s stock valued at $14,100,000 after purchasing an additional 334,290 shares during the period. Assenagon Asset Management S.A. bought a new stake in RE/MAX during the 2nd quarter valued at $1,778,000. Russell Investments Group Ltd. bought a new stake in RE/MAX in the 4th quarter worth $2,583,000. Jacobs Levy Equity Management Inc. grew its holdings in RE/MAX by 107.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider’s stock worth $2,560,000 after acquiring an additional 151,036 shares during the last quarter. Finally, Blair William & Co. IL increased its position in shares of RE/MAX by 767.5% in the first quarter. Blair William & Co. IL now owns 109,611 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 96,976 shares during the period. 93.17% of the stock is owned by hedge funds and other institutional investors.

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.