RE/MAX Holdings, Inc. (NYSE:RMAX) Receives Consensus Recommendation of “Reduce” from Analysts

RE/MAX Holdings, Inc. (NYSE:RMAX) has been assigned a consensus recommendation of “Reduce” from the six brokerages that are presently covering the firm, 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 1 year price objective among brokers that have issued ratings on the stock in the last year is $14.00.

Several equities research analysts recently commented on RMAX shares. Morgan Stanley decreased their price objective on shares of RE/MAX from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 10th. Jonestrading reiterated a “hold” rating on shares of RE/MAX in a research report on Friday, March 1st. StockNews.com lowered shares of RE/MAX from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of RE/MAX from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Wednesday, February 28th.

RE/MAX Stock Up 1.8 %

RE/MAX stock opened at $7.19 on Tuesday. RE/MAX has a 52 week low of $6.94 and a 52 week high of $20.48. The firm’s 50-day simple moving average is $7.98 and its 200 day simple moving average is $9.81. The firm has a market capitalization of $131.43 million, a PE ratio of -1.89 and a beta of 1.40.

RE/MAX (NYSE:RMAX) last released its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. RE/MAX had a negative net margin of 21.19% and a negative return on equity of 116.18%. The business had revenue of $76.60 million for the quarter, compared to analyst estimates of $77.19 million. On average, research analysts expect that RE/MAX will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On RE/MAX

Several large investors have recently made changes to their positions in RMAX. Allspring Global Investments Holdings LLC purchased a new stake in RE/MAX during the 3rd quarter worth $35,000. SG Americas Securities LLC purchased a new stake in shares of RE/MAX in the third quarter worth about $121,000. Robertson Stephens Wealth Management LLC acquired a new stake in shares of RE/MAX in the fourth quarter valued at about $139,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of RE/MAX during the 4th quarter valued at about $141,000. Finally, WINTON GROUP Ltd acquired a new position in RE/MAX during the 3rd quarter worth approximately $152,000. Institutional investors and hedge funds own 93.17% of the company’s stock.

About RE/MAX

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.