RE/MAX (NYSE:RMAX) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

RE/MAX (NYSE:RMAX) posted its earnings results on Friday. The financial services provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06), FiscalAI reports. RE/MAX had a negative return on equity of 73.77% and a net margin of 2.80%.The company had revenue of $53.36 million during the quarter, compared to analysts’ expectations of $73.21 million.

RE/MAX Trading Down 5.8%

Shares of NYSE RMAX opened at $10.42 on Friday. The firm has a 50 day moving average of $6.75 and a 200 day moving average of $7.43. The firm has a market capitalization of $209.78 million, a price-to-earnings ratio of 1,041.50 and a beta of 1.89. RE/MAX has a 12-month low of $5.46 and a 12-month high of $11.62.

Insider Transactions at RE/MAX

In related news, insider Adam K. Peterson sold 216,281 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $11.10, for a total transaction of $2,400,719.10. Following the completion of the sale, the insider directly owned 982,440 shares in the company, valued at approximately $10,905,084. The trade was a 18.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 1,484,071 shares of company stock worth $14,850,900 in the last three months. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On RE/MAX

Several large investors have recently added to or reduced their stakes in RMAX. JPMorgan Chase & Co. lifted its holdings in RE/MAX by 95.5% during the third quarter. JPMorgan Chase & Co. now owns 533,201 shares of the financial services provider’s stock valued at $5,028,000 after purchasing an additional 260,416 shares in the last quarter. Russell Investments Group Ltd. increased its stake in RE/MAX by 166.7% during the third quarter. Russell Investments Group Ltd. now owns 398,707 shares of the financial services provider’s stock worth $3,760,000 after acquiring an additional 249,188 shares during the last quarter. Jane Street Group LLC increased its stake in RE/MAX by 209.6% during the fourth quarter. Jane Street Group LLC now owns 234,829 shares of the financial services provider’s stock worth $1,782,000 after acquiring an additional 158,986 shares during the last quarter. Trexquant Investment LP bought a new position in RE/MAX during the fourth quarter valued at $655,000. Finally, Two Sigma Investments LP bought a new position in RE/MAX during the third quarter valued at $799,000. Hedge funds and other institutional investors own 93.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of RE/MAX in a research report on Monday, April 27th. JonesTrading raised shares of RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 target price for the company in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.80.

RE/MAX Company Profile

RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.

Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.