StockNews.com Upgrades RE/MAX (NYSE:RMAX) to “Strong-Buy”

RE/MAX (NYSE:RMAX) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

RE/MAX Trading Down 3.6 %

RE/MAX stock opened at $8.56 on Thursday. The firm has a market capitalization of $162.49 million, a price-to-earnings ratio of 24.46 and a beta of 1.32. The firm has a 50 day simple moving average of $9.48 and a 200 day simple 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 results on Thursday, February 20th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.10). The company had revenue of $72.47 million during the quarter, compared to analysts’ expectations of $74.34 million. RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. On average, equities research analysts forecast that RE/MAX will post 0.89 EPS for the current year.

Insider Activity at RE/MAX

In other RE/MAX news, major shareholder Adam K. Peterson acquired 15,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were bought 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 approximately $33,332,149.30. This represents a 0.47 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders bought 40,434 shares of company stock valued at $410,729. Corporate insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On RE/MAX

A number of institutional investors have recently added to or reduced their stakes in the business. Capital World Investors boosted its position in shares of RE/MAX by 736.3% during the 4th quarter. Capital World Investors now owns 1,500,000 shares of the financial services provider’s stock valued at $16,005,000 after acquiring an additional 1,320,628 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in RE/MAX by 24.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 895,668 shares of the financial services provider’s stock valued at $9,557,000 after purchasing an additional 178,599 shares during the last quarter. Prudential Financial Inc. grew its stake in RE/MAX by 101.6% in the 4th quarter. Prudential Financial Inc. now owns 212,762 shares of the financial services provider’s stock worth $2,270,000 after buying an additional 107,207 shares in the last quarter. Norges Bank bought a new position in shares of RE/MAX in the 4th quarter worth $1,058,000. Finally, JPMorgan Chase & Co. raised 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 valued at $1,497,000 after buying an additional 71,215 shares in the last quarter. 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.