StockNews.com Downgrades RE/MAX (NYSE:RMAX) to Buy

StockNews.com cut shares of RE/MAX (NYSE:RMAX) from a strong-buy rating to a buy rating in a report issued on Wednesday.

RE/MAX Price Performance

Shares of RMAX opened at $9.12 on Wednesday. The firm has a 50 day simple moving average of $9.60 and a two-hundred day simple moving average of $11.08. RE/MAX has a one year low of $6.94 and a one year high of $14.31. The company has a market cap of $173.03 million, a P/E ratio of 26.04 and a beta of 1.32.

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

Insider Activity at RE/MAX

In other news, major shareholder Adam K. Peterson acquired 15,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were bought at an average price of $10.30 per share, with a total value of $154,500.00. Following the acquisition, the insider now directly owns 3,236,131 shares in the company, valued at $33,332,149.30. The trade was a 0.47 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders have purchased 40,434 shares of company stock valued at $410,729. 5.99% of the stock is owned by insiders.

Hedge Funds Weigh In On RE/MAX

Large investors have recently bought and sold shares of the company. Two Sigma Advisers LP increased its position in RE/MAX by 19.3% in the 4th quarter. Two Sigma Advisers LP now owns 17,300 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 2,800 shares during the period. Two Sigma Investments LP grew its stake in shares of RE/MAX by 7.7% in the fourth quarter. Two Sigma Investments LP now owns 50,505 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 3,590 shares during the last quarter. State of Wyoming acquired a new stake in RE/MAX in the fourth quarter valued at $91,000. Sherbrooke Park Advisers LLC bought a new position in RE/MAX during the 4th quarter worth $183,000. Finally, Quantinno Capital Management LP lifted its holdings in RE/MAX by 36.2% during the 4th quarter. Quantinno Capital Management LP now owns 14,807 shares of the financial services provider’s stock worth $158,000 after buying an additional 3,934 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.