RE/MAX (NYSE:RMAX) PT Lowered to $9.00 at Stephens

RE/MAX (NYSE:RMAX) had its price objective trimmed by Stephens from $10.00 to $9.00 in a research note released on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods lowered their target price on shares of RE/MAX from $11.00 to $10.00 and set a market perform rating on the stock in a research note on Wednesday, February 28th. Morgan Stanley cut their price objective on RE/MAX from $9.00 to $7.00 and set an underweight rating for the company in a research report on Wednesday, April 10th. StockNews.com lowered RE/MAX from a buy rating to a hold rating in a report on Monday, February 26th. Finally, Jonestrading reiterated a hold rating on shares of RE/MAX in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, RE/MAX currently has an average rating of Hold and a consensus target price of $11.60.

RE/MAX Stock Performance

Shares of NYSE RMAX opened at $8.73 on Monday. The stock has a market cap of $159.55 million, a price-to-earnings ratio of -2.21 and a beta of 1.42. 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 $9.65.

RE/MAX (NYSE:RMAX) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $76.60 million for the quarter, compared to the consensus estimate 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 news, major shareholder Adam K. Peterson purchased 54,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was purchased at an average price of $7.64 per share, with a total value of $412,560.00. Following the acquisition, the insider now directly owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Abigail C. Lee sold 4,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total value of $38,295.00. Following the completion of the transaction, the executive vice president now directly owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Adam K. Peterson purchased 54,000 shares of the stock in a transaction on Monday, March 18th. The stock was bought at an average price of $7.64 per share, for a total transaction 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 disclosure for this purchase can be found here. 5.99% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RMAX. Blair William & Co. IL increased its position in shares of RE/MAX by 767.5% during the 1st quarter. Blair William & Co. IL now owns 109,611 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 96,976 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in RE/MAX during the first quarter worth about $572,000. Russell Investments Group Ltd. increased its holdings in shares of RE/MAX by 17.2% during the first quarter. Russell Investments Group Ltd. now owns 227,103 shares of the financial services provider’s stock worth $1,992,000 after buying an additional 33,351 shares in the last quarter. Magnolia Group LLC increased its holdings in shares of RE/MAX by 1.8% during the first quarter. Magnolia Group LLC now owns 3,037,843 shares of the financial services provider’s stock worth $26,642,000 after buying an additional 54,000 shares in the last quarter. Finally, SG Americas Securities LLC raised 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 during the last quarter. 93.17% of the stock is owned by institutional investors.

RE/MAX Company Profile

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.