RE/MAX (NYSE:RMAX) Price Target Cut to $9.00

RE/MAX (NYSE:RMAX) had its target price decreased by equities researchers at Stephens from $10.00 to $9.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price target would indicate a potential upside of 11.52% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Jonestrading reiterated a “hold” rating on shares of RE/MAX in a report on Friday, March 1st. StockNews.com lowered RE/MAX from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Keefe, Bruyette & Woods reduced their price objective on shares of RE/MAX from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 28th. Finally, Morgan Stanley cut their target price on shares of RE/MAX from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.60.

RE/MAX Stock Up 5.4 %

Shares of NYSE RMAX opened at $8.07 on Monday. The firm’s fifty day moving average is $7.82 and its 200 day moving average is $9.67. RE/MAX has a 52 week low of $6.94 and a 52 week high of $20.48. The company has a market cap of $147.52 million, a price-to-earnings ratio of -2.04 and a beta of 1.42.

RE/MAX (NYSE:RMAX) last released its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $77.19 million. RE/MAX had a negative net margin of 22.51% and a negative return on equity of 50.09%. Equities research analysts anticipate that RE/MAX will post 0.75 earnings per share for the current year.

Insider Transactions at RE/MAX

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 stock was 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 $759,338.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Abigail C. Lee sold 4,500 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total transaction of $38,295.00. Following the sale, the executive vice president now directly owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Adam K. Peterson bought 54,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $23,209,120.52. The disclosure for this purchase can be found here. Insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On RE/MAX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of RE/MAX in the third quarter worth $35,000. Patron Partners LLC purchased a new position in RE/MAX in the 1st quarter worth about $93,000. SG Americas Securities LLC lifted its stake in RE/MAX by 12.7% during the 1st quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 1,469 shares during the period. Robertson Stephens Wealth Management LLC purchased a new stake in shares of RE/MAX during the 4th quarter valued at about $139,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in shares of RE/MAX in the fourth quarter worth approximately $141,000. 93.17% of the stock is owned by institutional investors.

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.