RE/MAX (NYSE:RMAX) Stock Rating Lowered by StockNews.com

RE/MAX (NYSE:RMAX) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Separately, Keefe, Bruyette & Woods lowered their price objective on RE/MAX from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Monday, April 28th.

RE/MAX Trading Down 5.7%

Shares of RMAX stock opened at $7.11 on Tuesday. The business’s 50-day moving average price is $7.89 and its 200-day moving average price is $9.75. RE/MAX has a 12 month low of $6.90 and a 12 month high of $14.31. The firm has a market capitalization of $141.76 million, a price-to-earnings ratio of 20.32 and a beta of 1.20.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). RE/MAX had a negative return on equity of 38.69% and a net margin of 2.32%. The company had revenue of $72.47 million for the quarter, compared to the consensus estimate of $74.34 million. On average, sell-side analysts predict that RE/MAX will post 0.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RE/MAX news, EVP Abigail C. Lee sold 10,000 shares of RE/MAX stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $7.78, for a total value of $77,800.00. Following the completion of the sale, the executive vice president now directly owns 151,874 shares in the company, valued at approximately $1,181,579.72. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RE/MAX

Hedge funds have recently added to or reduced their stakes in the business. State of Wyoming bought a new stake in RE/MAX in the fourth quarter worth approximately $91,000. Martingale Asset Management L P bought a new stake in RE/MAX in the fourth quarter worth approximately $110,000. Wells Fargo & Company MN increased its holdings in shares of RE/MAX by 27.5% during the fourth quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 2,286 shares in the last quarter. Brandywine Global Investment Management LLC increased its holdings in shares of RE/MAX by 12.5% during the first quarter. Brandywine Global Investment Management LLC now owns 14,370 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 1,600 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of RE/MAX by 39.2% during the fourth quarter. AlphaQuest LLC now owns 11,829 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 3,329 shares in the last quarter. 93.17% of the stock is currently owned by institutional investors.

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.