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

RE/MAX (NYSE:RMAX) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

Separately, Keefe, Bruyette & Woods decreased their price target on RE/MAX from $10.00 to $9.00 and set a “market perform” rating for the company in a report on Monday, April 28th.

RE/MAX Trading Down 5.7%

Shares of RE/MAX stock opened at $7.11 on Tuesday. The stock has a fifty day simple moving average of $7.89 and a 200 day simple moving average of $9.75. RE/MAX has a 12-month low of $6.90 and a 12-month high of $14.31. The company has a market capitalization of $141.76 million, a P/E ratio of 20.32 and a beta of 1.20.

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

Insider Buying and Selling

In other RE/MAX news, EVP Abigail C. Lee sold 10,000 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $7.78, for a total value of $77,800.00. Following the transaction, the executive vice president now owns 151,874 shares of the company’s stock, valued at approximately $1,181,579.72. The trade was a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming purchased a new position in RE/MAX in the fourth quarter worth $91,000. Martingale Asset Management L P purchased a new position in RE/MAX in the fourth quarter worth $110,000. Wells Fargo & Company MN boosted its position in RE/MAX by 27.5% in the fourth quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 2,286 shares during the last quarter. Brandywine Global Investment Management LLC boosted its position in RE/MAX by 12.5% in the first quarter. Brandywine Global Investment Management LLC now owns 14,370 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 1,600 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in RE/MAX by 39.2% in the fourth quarter. AlphaQuest LLC now owns 11,829 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 3,329 shares during the last quarter. Hedge funds and other 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.