RE/MAX Holdings, Inc. (NYSE:RMAX) Receives $14.00 Consensus PT from Brokerages

Shares of RE/MAX Holdings, Inc. (NYSE:RMAX) have earned a consensus recommendation of “Reduce” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $14.00.

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods dropped their price target 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. Jonestrading reissued a “hold” rating on shares of RE/MAX in a report on Friday, March 1st. Morgan Stanley reduced their price objective on shares of RE/MAX from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, April 10th. Finally, StockNews.com cut shares of RE/MAX from a “buy” rating to a “hold” rating in a research note on Monday, February 26th.

Insider Activity at RE/MAX

In other news, EVP Abigail C. Lee sold 4,500 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Abigail C. Lee sold 4,500 shares of RE/MAX stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total value of $38,295.00. Following the transaction, the executive vice president now directly owns 89,229 shares of the company’s stock, valued at $759,338.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Adam K. Peterson purchased 54,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average price of $7.64 per share, with a total value of $412,560.00. Following the completion of the acquisition, the insider now directly owns 3,037,843 shares in the company, valued at $23,209,120.52. The disclosure for this purchase can be found here. 5.99% of the stock is owned by insiders.

Institutional Trading of RE/MAX

Large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. bought a new stake in RE/MAX in the third quarter valued at $5,792,000. Magnolia Group LLC lifted its position in shares of RE/MAX by 13.7% in the 4th quarter. Magnolia Group LLC now owns 2,983,843 shares of the financial services provider’s stock worth $39,775,000 after purchasing an additional 358,736 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of RE/MAX by 46.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,057,780 shares of the financial services provider’s stock valued at $14,100,000 after purchasing an additional 334,290 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of RE/MAX during the fourth quarter valued at about $2,583,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in RE/MAX by 195.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,170 shares of the financial services provider’s stock worth $1,555,000 after buying an additional 79,476 shares in the last quarter. 93.17% of the stock is owned by institutional investors.

RE/MAX Trading Up 7.7 %

Shares of NYSE RMAX opened at $7.71 on Tuesday. The firm has a market cap of $140.94 million, a price-to-earnings ratio of -1.95 and a beta of 1.42. The stock has a fifty day simple moving average of $7.85 and a two-hundred day simple moving average of $9.71. RE/MAX has a 1-year low of $6.94 and a 1-year high of $20.48.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. RE/MAX had a negative return on equity of 62.93% and a negative net margin of 22.51%. The company had revenue of $76.60 million during the quarter, compared to the consensus estimate of $77.19 million. Analysts forecast that RE/MAX will post 0.75 EPS for the current year.

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.