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

RE/MAX (NYSE:RMAX) had its target price lowered by Stephens from $10.00 to $9.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price target would indicate a potential upside of 16.73% from the company’s previous close.

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

RE/MAX Stock Up 7.7 %

NYSE RMAX opened at $7.71 on Monday. RE/MAX has a 52 week low of $6.94 and a 52 week high of $20.48. The stock has a market capitalization of $140.94 million, a PE ratio of -1.95 and a beta of 1.42. The firm has a 50 day moving average of $7.85 and a two-hundred day moving average of $9.71.

RE/MAX (NYSE:RMAX) last posted its quarterly 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. RE/MAX had a negative net margin of 22.51% and a negative return on equity of 50.09%. The company had revenue of $76.60 million during the quarter, compared to analysts’ expectations of $77.19 million. On average, equities research analysts expect that RE/MAX will post 0.75 earnings per share for the current fiscal year.

Insider Transactions at RE/MAX

In related news, major shareholder Adam K. Peterson purchased 54,000 shares of the stock in a transaction dated Monday, March 18th. The shares were acquired at an average cost of $7.64 per share, with a total value of $412,560.00. Following the purchase, the insider now directly owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Abigail C. Lee sold 4,500 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total transaction of $38,295.00. Following the completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Adam K. Peterson purchased 54,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were acquired 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 owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The disclosure for this purchase can be found here. Corporate insiders own 5.99% of the company’s stock.

Institutional Investors Weigh In On RE/MAX

Several institutional investors and hedge funds have recently bought and sold shares of RMAX. Patron Partners LLC bought a new position in RE/MAX in the 1st quarter worth about $93,000. BNP Paribas Financial Markets boosted its holdings in shares of RE/MAX by 114.2% in the first quarter. BNP Paribas Financial Markets now owns 36,368 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 19,393 shares in the last quarter. G2 Investment Partners Management LLC bought a new position in shares of RE/MAX in the fourth quarter valued at approximately $1,000,000. HST Ventures LLC bought a new stake in RE/MAX during the fourth quarter worth approximately $578,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in RE/MAX by 46.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,057,780 shares of the financial services provider’s stock worth $14,100,000 after buying an additional 334,290 shares in the last quarter. 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.