RE/MAX (NYSE:RMAX) Releases Earnings Results, Misses Estimates By $0.20 EPS

RE/MAX (NYSE:RMAX) released its quarterly earnings data on Friday. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20), FiscalAI reports. RE/MAX had a net margin of 2.80% and a negative return on equity of 73.77%. The business had revenue of $53.36 million for the quarter, compared to the consensus estimate of $73.21 million.

RE/MAX Trading Down 5.8%

RMAX traded down $0.65 on Friday, reaching $10.42. The stock had a trading volume of 825,413 shares, compared to its average volume of 1,503,272. RE/MAX has a 12-month low of $5.46 and a 12-month high of $11.62. The business’s 50-day moving average price is $6.75 and its two-hundred day moving average price is $7.43. The company has a market cap of $209.76 million, a P/E ratio of 26.71 and a beta of 1.89.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RMAX. Weiss Ratings restated a “sell (d)” rating on shares of RE/MAX in a research note on Monday, April 27th. JonesTrading raised shares of RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 price target for the company in a report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.80.

Insider Activity at RE/MAX

In other news, insider Adam K. Peterson sold 216,281 shares of the business’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $11.10, for a total transaction of $2,400,719.10. Following the completion of the sale, the insider owned 982,440 shares of the company’s stock, valued at $10,905,084. The trade was a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 1,484,071 shares of company stock worth $14,850,900 over the last three months. 6.80% of the stock is owned by insiders.

Institutional Trading of RE/MAX

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in RE/MAX by 95.5% during the third quarter. JPMorgan Chase & Co. now owns 533,201 shares of the financial services provider’s stock worth $5,028,000 after acquiring an additional 260,416 shares during the last quarter. Geode Capital Management LLC boosted its position in RE/MAX by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 462,742 shares of the financial services provider’s stock worth $3,513,000 after acquiring an additional 12,372 shares during the last quarter. Russell Investments Group Ltd. boosted its position in RE/MAX by 166.7% during the third quarter. Russell Investments Group Ltd. now owns 398,707 shares of the financial services provider’s stock worth $3,760,000 after acquiring an additional 249,188 shares during the last quarter. Nuveen LLC boosted its position in RE/MAX by 23.1% during the fourth quarter. Nuveen LLC now owns 307,771 shares of the financial services provider’s stock worth $2,336,000 after acquiring an additional 57,760 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in RE/MAX by 6.6% during the third quarter. Bridgeway Capital Management LLC now owns 283,601 shares of the financial services provider’s stock worth $2,674,000 after acquiring an additional 17,545 shares during the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

RE/MAX Company Profile

RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.

Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.