RE/MAX (NYSE:RMAX) Rating Lowered to “Hold” at StockNews.com

RE/MAX (NYSE:RMAX) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Separately, Stephens increased their target price on shares of RE/MAX from $9.00 to $10.50 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.38.

RE/MAX Price Performance

Shares of RE/MAX stock opened at $12.85 on Wednesday. The company has a market capitalization of $242.35 million, a P/E ratio of -23.80 and a beta of 1.36. The business has a 50-day moving average of $11.98 and a two-hundred day moving average of $9.94. RE/MAX has a 1 year low of $6.94 and a 1 year high of $13.70.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. RE/MAX had a negative net margin of 3.08% and a negative return on equity of 35.76%. The business had revenue of $78.45 million for the quarter, compared to analyst estimates of $78.16 million. On average, equities analysts anticipate that RE/MAX will post 0.85 EPS for the current fiscal year.

Institutional Trading of RE/MAX

Hedge funds have recently made changes to their positions in the business. Quest Partners LLC acquired a new position in RE/MAX in the 3rd quarter valued at about $106,000. Empowered Funds LLC lifted its holdings in RE/MAX by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 57,118 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 2,814 shares during the last quarter. Metis Global Partners LLC bought a new stake in RE/MAX in the 3rd quarter valued at $156,000. River Global Investors LLP grew its holdings in RE/MAX by 4.2% in the 3rd quarter. River Global Investors LLP now owns 188,913 shares of the financial services provider’s stock valued at $2,353,000 after buying an additional 7,536 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of RE/MAX by 138.8% during the third quarter. Assenagon Asset Management S.A. now owns 524,188 shares of the financial services provider’s stock worth $6,526,000 after buying an additional 304,694 shares in the last quarter. 93.17% of the stock is owned by institutional investors and hedge funds.

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.