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

RE/MAX (NYSE:RMAX) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

RE/MAX Stock Performance

Shares of RMAX stock traded up $0.31 during trading hours on Wednesday, hitting $9.12. 169,649 shares of the company were exchanged, compared to its average volume of 227,221. The firm has a market cap of $173.03 million, a P/E ratio of 26.04 and a beta of 1.32. RE/MAX has a fifty-two week low of $6.94 and a fifty-two week high of $14.31. The company has a 50 day simple moving average of $9.60 and a two-hundred day simple moving average of $11.08.

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

Insiders Place Their Bets

In other RE/MAX news, major shareholder Adam K. Peterson bought 15,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were bought at an average cost of $10.30 per share, for a total transaction of $154,500.00. Following the purchase, the insider now directly owns 3,236,131 shares of the company’s stock, valued at approximately $33,332,149.30. This trade represents a 0.47 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 40,434 shares of company stock valued at $410,729 in the last three months. 5.99% of the stock is currently owned by insiders.

Institutional Investors Weigh In On RE/MAX

A number of hedge funds have recently made changes to their positions in RMAX. Harbor Capital Advisors Inc. raised its stake in RE/MAX by 31.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,579 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 1,336 shares during the period. State of Wyoming bought a new stake in RE/MAX in the 4th quarter valued at about $91,000. Quest Partners LLC bought a new stake in RE/MAX in the 3rd quarter valued at about $106,000. Martingale Asset Management L P bought a new stake in RE/MAX in the 4th quarter valued at about $110,000. Finally, Wells Fargo & Company MN raised its stake in RE/MAX by 27.5% in the 4th quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 2,286 shares during the period. 93.17% of the stock is currently 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.