RE/MAX (NYSE:RMAX) Lowered to Buy Rating by StockNews.com

StockNews.com downgraded shares of RE/MAX (NYSE:RMAX) from a strong-buy rating to a buy rating in a research report released on Wednesday morning.

RE/MAX Trading Up 3.5 %

RMAX opened at $9.12 on Wednesday. The stock’s fifty day simple moving average is $9.60 and its 200 day simple moving average is $11.08. RE/MAX has a 1-year low of $6.94 and a 1-year high of $14.31. The stock has a market cap of $173.03 million, a PE ratio of 26.04 and a beta of 1.32.

RE/MAX (NYSE:RMAX) last posted its earnings results on Thursday, February 20th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). RE/MAX had a negative return on equity of 38.69% and a net margin of 2.32%. The company had revenue of $72.47 million for the quarter, compared to analyst estimates of $74.34 million. Equities analysts forecast that RE/MAX will post 0.89 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Adam K. Peterson bought 15,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was bought at an average price of $10.30 per share, with a total value of $154,500.00. Following the completion of the acquisition, the insider now owns 3,236,131 shares of the company’s stock, valued at $33,332,149.30. This represents a 0.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders bought 40,434 shares of company stock valued at $410,729. Insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On RE/MAX

A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of RE/MAX by 145.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 120,247 shares of the financial services provider’s stock worth $1,497,000 after purchasing an additional 71,215 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of RE/MAX by 23.3% in the third quarter. BNP Paribas Financial Markets now owns 54,101 shares of the financial services provider’s stock valued at $674,000 after buying an additional 10,207 shares during the period. Magnolia Group LLC grew its position in RE/MAX by 2.2% during the fourth quarter. Magnolia Group LLC now owns 3,221,131 shares of the financial services provider’s stock worth $34,369,000 after buying an additional 70,457 shares in the last quarter. Barclays PLC increased its stake in RE/MAX by 248.3% during the 3rd quarter. Barclays PLC now owns 25,933 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 18,488 shares during the period. Finally, Geode Capital Management LLC raised its holdings in RE/MAX by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 415,791 shares of the financial services provider’s stock valued at $5,178,000 after acquiring an additional 7,688 shares in the last quarter. 93.17% of the stock is owned by 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.