Stephens Cuts RE/MAX (NYSE:RMAX) Price Target to $9.00

RE/MAX (NYSE:RMAX) had its price target lowered by Stephens from $10.00 to $9.00 in a report issued on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Several other research firms have also recently commented on RMAX. Morgan Stanley cut their target price on RE/MAX from $9.00 to $7.00 and set an underweight rating on the stock in a research note on Wednesday, April 10th. StockNews.com downgraded shares of RE/MAX from a buy rating to a hold rating in a research report on Monday, February 26th. Jonestrading restated a hold rating on shares of RE/MAX in a research note on Friday, March 1st. Finally, Keefe, Bruyette & Woods lowered their target price on RE/MAX from $11.00 to $10.00 and set a market perform rating on the stock in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, RE/MAX presently has a consensus rating of Hold and an average target price of $11.60.

RE/MAX Stock Performance

NYSE RMAX opened at $8.00 on Monday. RE/MAX has a 52-week low of $6.94 and a 52-week high of $20.48. The business has a 50 day simple moving average of $7.82 and a 200 day simple moving average of $9.66. The stock has a market cap of $146.21 million, a price-to-earnings ratio of -2.03 and a beta of 1.42.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $77.19 million. RE/MAX had a negative net margin of 22.51% and a negative return on equity of 50.09%. On average, analysts predict that RE/MAX will post 0.75 EPS for the current year.

Insider Buying and Selling

In other RE/MAX news, major shareholder Adam K. Peterson acquired 54,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was bought at an average cost of $7.64 per share, with a total value of $412,560.00. Following the completion of the transaction, the insider now directly owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Adam K. Peterson acquired 54,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were bought at an average cost of $7.64 per share, with a total value of $412,560.00. Following the completion of the transaction, the insider now directly owns 3,037,843 shares of the company’s stock, valued at $23,209,120.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Abigail C. Lee sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total transaction of $38,295.00. Following the sale, the executive vice president now owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The disclosure for this sale can be found here. 5.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RE/MAX

Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in RE/MAX by 17.2% during the 1st quarter. Russell Investments Group Ltd. now owns 227,103 shares of the financial services provider’s stock worth $1,992,000 after purchasing an additional 33,351 shares during the last quarter. Magnolia Group LLC boosted its position in shares of RE/MAX by 1.8% in the first quarter. Magnolia Group LLC now owns 3,037,843 shares of the financial services provider’s stock valued at $26,642,000 after acquiring an additional 54,000 shares during the period. SG Americas Securities LLC grew its stake in shares of RE/MAX by 12.7% in the first quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 1,469 shares in the last quarter. Empowered Funds LLC increased its position in RE/MAX by 7.9% during the first quarter. Empowered Funds LLC now owns 50,524 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 3,687 shares during the period. Finally, Patron Partners LLC acquired a new stake in RE/MAX in the 1st quarter worth about $93,000. Institutional investors and hedge funds own 93.17% of the company’s stock.

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.