RE/MAX (NYSE:RMAX) Rating Increased to Strong-Buy at StockNews.com

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

RE/MAX Stock Up 0.5 %

NYSE:RMAX opened at $8.88 on Thursday. The stock has a market cap of $168.47 million, a price-to-earnings ratio of 25.36 and a beta of 1.32. The company’s 50 day moving average price is $9.51 and its 200-day moving average price is $11.00. RE/MAX has a 52 week low of $6.94 and a 52 week high of $14.31.

RE/MAX (NYSE:RMAX) last issued its earnings results 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 business had revenue of $72.47 million for the quarter, compared to analysts’ expectations of $74.34 million. RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. As a group, sell-side analysts anticipate that RE/MAX will post 0.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Adam K. Peterson bought 11,798 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were bought at an average price 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 of the company’s stock, valued at $31,310,035.56. This trade represents a 0.36 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders acquired 40,434 shares of company stock valued at $410,729. 5.99% of the stock is owned by insiders.

Institutional Investors Weigh In On RE/MAX

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of RE/MAX by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 151,779 shares of the financial services provider’s stock worth $1,619,000 after buying an additional 1,092 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of RE/MAX by 4.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,887 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 1,154 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of RE/MAX by 31.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,579 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 1,336 shares during the period. Northern Trust Corp increased its stake in shares of RE/MAX by 1.0% in the 4th quarter. Northern Trust Corp now owns 164,217 shares of the financial services provider’s stock worth $1,752,000 after purchasing an additional 1,572 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in RE/MAX by 6.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 26,178 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 1,662 shares during the period. 93.17% of the stock is currently 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.