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

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

RE/MAX Stock Up 0.4 %

NYSE RMAX opened at $8.65 on Tuesday. The firm has a market capitalization of $164.11 million, a PE ratio of 24.70 and a beta of 1.32. The stock’s 50 day moving average is $9.76 and its 200 day moving average is $11.18. RE/MAX has a twelve month low of $6.94 and a twelve month high of $14.31.

RE/MAX (NYSE:RMAX) last announced its 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 the consensus estimate of $74.34 million. RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. On average, research analysts anticipate that RE/MAX will post 0.89 earnings per share for the current year.

Insider Buying and Selling at RE/MAX

In related news, major shareholder Adam K. Peterson bought 11,798 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were purchased at an average cost of $9.64 per share, with a total value of $113,732.72. Following the completion of the purchase, the insider now owns 3,247,929 shares in the company, valued at approximately $31,310,035.56. The trade was a 0.36 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders acquired 69,889 shares of company stock valued at $729,432. Corporate insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On RE/MAX

A number of hedge funds have recently bought and sold shares of the company. Magnolia Group LLC raised its holdings in RE/MAX by 2.2% in the fourth quarter. Magnolia Group LLC now owns 3,221,131 shares of the financial services provider’s stock worth $34,369,000 after buying an additional 70,457 shares during the last quarter. Capital World Investors increased its position in shares of RE/MAX by 736.3% during the fourth 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in RE/MAX by 24.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 895,668 shares of the financial services provider’s stock worth $9,557,000 after acquiring an additional 178,599 shares during the last quarter. Renaissance Technologies LLC raised its holdings in RE/MAX by 2.5% in the 4th quarter. Renaissance Technologies LLC now owns 808,369 shares of the financial services provider’s stock worth $8,625,000 after acquiring an additional 19,969 shares during the last quarter. Finally, State Street Corp lifted its position in RE/MAX by 6.6% in the 3rd quarter. State Street Corp now owns 435,652 shares of the financial services provider’s stock valued at $5,424,000 after acquiring an additional 27,131 shares in the last quarter. Institutional investors 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.