RE/MAX (NYSE:RMAX) Upgraded at StockNews.com

RE/MAX (NYSE:RMAX) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

RE/MAX Price Performance

NYSE:RMAX opened at $8.56 on Thursday. The company has a market capitalization of $162.49 million, a price-to-earnings ratio of 24.46 and a beta of 1.32. The business has a 50 day moving average of $9.48 and a 200 day moving average of $10.98. RE/MAX has a 1-year low of $6.94 and a 1-year high of $14.31.

RE/MAX (NYSE:RMAX) last announced its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.19 earnings per share 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 business had revenue of $72.47 million during the quarter, compared to the consensus estimate of $74.34 million. As a group, sell-side analysts anticipate that RE/MAX will post 0.89 EPS for the current year.

Insider Buying and Selling at RE/MAX

In related news, major shareholder Adam K. Peterson acquired 15,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was purchased at an average price of $10.30 per share, for a total transaction of $154,500.00. Following the completion of the transaction, the insider now owns 3,236,131 shares of the company’s stock, valued at $33,332,149.30. This trade represents a 0.47 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders acquired a total of 40,434 shares of company stock worth $410,729 over the last three months. Company insiders own 5.99% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its holdings in RE/MAX by 31.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,579 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,336 shares during the last quarter. State of Wyoming purchased a new position in shares of RE/MAX in the fourth quarter valued at about $91,000. Quest Partners LLC bought a new position in shares of RE/MAX during the third quarter valued at about $106,000. Martingale Asset Management L P purchased a new stake in shares of RE/MAX during the fourth quarter worth about $110,000. Finally, Wells Fargo & Company MN grew its stake in shares of RE/MAX by 27.5% in the fourth quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 2,286 shares during the last quarter. Institutional investors 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.