RE/MAX (NYSE:RMAX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of RE/MAX (NYSE:RMAX) to a hold rating in a report released on Saturday morning.

Other equities research analysts have also recently issued reports about the stock. JonesTrading raised shares of RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 target price for the company in a research report on Monday, April 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of RE/MAX in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.80.

RE/MAX Stock Performance

RMAX opened at $12.34 on Friday. The stock has a market capitalization of $261.98 million, a PE ratio of -29.38 and a beta of 1.82. The stock’s 50 day moving average price is $10.84 and its 200-day moving average price is $8.71. RE/MAX has a 52-week low of $5.46 and a 52-week high of $14.63.

RE/MAX (NYSE:RMAX) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.05). The business had revenue of $51.72 million during the quarter, compared to analysts’ expectations of $72.80 million. RE/MAX had a negative return on equity of 81.65% and a negative net margin of 3.04%.

Institutional Trading of RE/MAX

A number of hedge funds and other institutional investors have recently modified their holdings of RMAX. JPMorgan Chase & Co. grew its stake in shares of RE/MAX by 95.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 533,201 shares of the financial services provider’s stock worth $5,028,000 after buying an additional 260,416 shares during the last quarter. Russell Investments Group Ltd. raised its stake 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 valued at $3,760,000 after buying an additional 249,188 shares during the last quarter. Seven Six Capital Management LLC purchased a new position in RE/MAX during the first quarter valued at $1,290,000. Jane Street Group LLC boosted its holdings in RE/MAX by 209.6% in the fourth quarter. Jane Street Group LLC now owns 234,829 shares of the financial services provider’s stock worth $1,782,000 after acquiring an additional 158,986 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in RE/MAX in the first quarter worth $861,000. 93.17% of the stock is owned by hedge funds and other institutional investors.

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.