RE/MAX Holdings, Inc. (NYSE:RMAX) Given Average Recommendation of “Reduce” by Brokerages

Shares of RE/MAX Holdings, Inc. (NYSE:RMAX) have been given an average recommendation of “Reduce” by the six research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $11.60.

A number of equities analysts recently weighed in on RMAX shares. StockNews.com cut RE/MAX from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Jonestrading reaffirmed a “hold” rating on shares of RE/MAX in a research note on Friday, March 1st. Stephens lowered their target price on RE/MAX from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, May 6th. Morgan Stanley lowered their target price on RE/MAX from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods lowered their target price on 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.

Insider Activity at RE/MAX

In related news, EVP Abigail C. Lee sold 4,500 shares of the business’s stock in a transaction that occurred on 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 directly owns 89,229 shares in the company, valued at approximately $759,338.79. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Abigail C. Lee sold 4,500 shares of the business’s stock in a transaction that occurred on 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 directly owns 89,229 shares in the company, valued at approximately $759,338.79. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Adam K. Peterson bought 54,000 shares of RE/MAX stock in a transaction that occurred on Monday, March 18th. The stock was bought 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 owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The disclosure for this purchase can be found here. 5.99% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RE/MAX

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of RE/MAX in the third quarter valued at approximately $35,000. Patron Partners LLC acquired a new position in RE/MAX during the first quarter worth $93,000. Pinnacle Wealth Planning Services Inc. raised its stake in RE/MAX by 15.5% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 12,222 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 1,644 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of RE/MAX by 12.7% in the first quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock valued at $114,000 after buying an additional 1,469 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC acquired a new stake in shares of RE/MAX in the fourth quarter valued at $139,000. 93.17% of the stock is owned by institutional investors.

RE/MAX Trading Up 0.1 %

Shares of RE/MAX stock opened at $8.21 on Friday. The company’s 50-day moving average price is $8.06 and its two-hundred day moving average price is $9.51. RE/MAX has a 52 week low of $6.94 and a 52 week high of $20.48. The stock has a market cap of $150.08 million, a PE ratio of -2.08 and a beta of 1.42.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $78.29 million for the quarter, compared to analysts’ expectations of $78.14 million. RE/MAX had a negative return on equity of 50.09% and a negative net margin of 22.51%. On average, equities analysts predict that RE/MAX will post 0.75 EPS for the current fiscal 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.