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

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

RE/MAX Trading Down 3.2 %

RMAX stock opened at $8.38 on Tuesday. The stock has a 50-day moving average price of $9.76 and a 200-day moving average price of $11.18. RE/MAX has a 1-year low of $6.94 and a 1-year high of $14.31. The firm has a market cap of $159.08 million, a PE ratio of 23.94 and a beta of 1.32.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings data 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). 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. On average, analysts forecast that RE/MAX will post 0.89 earnings per share for the current year.

Insider Activity at RE/MAX

In other news, major shareholder Adam K. Peterson bought 29,455 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost of $10.82 per share, with a total value of $318,703.10. Following the transaction, the insider now directly owns 3,207,495 shares of the company’s stock, valued at approximately $34,705,095.90. This represents a 0.93 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 69,889 shares of company stock valued at $729,432 in the last three months. Corporate insiders own 5.99% of the company’s stock.

Institutional Trading of RE/MAX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Magnolia Group LLC boosted its stake in RE/MAX by 2.2% during the 4th quarter. Magnolia Group LLC now owns 3,221,131 shares of the financial services provider’s stock valued at $34,369,000 after purchasing an additional 70,457 shares during the last quarter. Capital World Investors boosted its stake in 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 purchasing an additional 1,320,628 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in RE/MAX by 24.9% during the 4th 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. Renaissance Technologies LLC boosted its stake in RE/MAX by 2.5% during the 4th quarter. Renaissance Technologies LLC now owns 808,369 shares of the financial services provider’s stock valued at $8,625,000 after purchasing an additional 19,969 shares during the last quarter. Finally, State Street Corp boosted its stake in RE/MAX by 6.6% during the 3rd quarter. State Street Corp now owns 435,652 shares of the financial services provider’s stock valued at $5,424,000 after purchasing an additional 27,131 shares during 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.