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

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

RE/MAX Stock Down 3.6 %

Shares of NYSE:RMAX opened at $8.56 on Thursday. The stock has a market cap of $162.49 million, a PE ratio of 24.46 and a beta of 1.32. The company’s fifty day moving average is $9.48 and its 200 day moving average is $10.98. RE/MAX has a 52 week low of $6.94 and a 52 week high of $14.31.

RE/MAX (NYSE:RMAX) last released its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.10). The company had revenue of $72.47 million during the quarter, compared to analysts’ expectations of $74.34 million. RE/MAX had a negative return on equity of 38.69% and a net margin of 2.32%. Sell-side analysts anticipate that RE/MAX will post 0.89 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Adam K. Peterson bought 11,798 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was bought at an average cost of $9.64 per share, for a total transaction of $113,732.72. Following the completion of the acquisition, the insider now owns 3,247,929 shares in the company, valued at approximately $31,310,035.56. This trade represents a 0.36 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have bought a total of 40,434 shares of company stock valued at $410,729 over the last three months. 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 bought and sold shares of RMAX. Magnolia Group LLC grew its position in shares of RE/MAX by 2.2% in the 4th 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 raised its holdings 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 lifted its stake in RE/MAX by 24.9% in the fourth 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 period. Renaissance Technologies LLC boosted its holdings in RE/MAX by 2.5% in the fourth quarter. Renaissance Technologies LLC now owns 808,369 shares of the financial services provider’s stock valued at $8,625,000 after acquiring an additional 19,969 shares in the last quarter. Finally, State Street Corp increased its position in RE/MAX by 6.6% during the 3rd quarter. State Street Corp now owns 435,652 shares of the financial services provider’s stock valued at $5,424,000 after purchasing an additional 27,131 shares during the period. Institutional investors own 93.17% of the company’s stock.

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.