StockNews.com Upgrades RE/MAX (NYSE:RMAX) to “Strong-Buy”

StockNews.com upgraded shares of RE/MAX (NYSE:RMAX) from a buy rating to a strong-buy rating in a research report released on Thursday morning.

RE/MAX Stock Performance

Shares of RMAX opened at $8.88 on Thursday. The stock has a market capitalization of $168.47 million, a PE ratio of 25.36 and a beta of 1.32. The company’s fifty day moving average is $9.51 and its 200 day moving average is $11.00. RE/MAX has a fifty-two week low of $6.94 and a fifty-two week high of $14.31.

RE/MAX (NYSE:RMAX) last posted its earnings results on Thursday, February 20th. The financial services provider reported $0.19 earnings per share 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 business had revenue of $72.47 million during the quarter, compared to the consensus estimate of $74.34 million. As a group, research analysts forecast that RE/MAX will post 0.89 earnings per share for the current year.

Insider Transactions at RE/MAX

In other news, major shareholder Adam K. Peterson purchased 11,798 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was purchased at an average cost of $9.64 per share, with a total value of $113,732.72. Following the purchase, the insider now owns 3,247,929 shares in the company, valued at approximately $31,310,035.56. This trade represents a 0.36 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders purchased 40,434 shares of company stock worth $410,729. 5.99% of the stock is currently owned by company insiders.

Institutional Trading of RE/MAX

Several institutional investors have recently added to or reduced their stakes in RMAX. Quest Partners LLC purchased a new stake in shares of RE/MAX in the third quarter valued at approximately $106,000. Dynamic Technology Lab Private Ltd purchased a new position in RE/MAX during the 3rd quarter valued at about $193,000. FMR LLC raised its holdings in shares of RE/MAX by 30.2% in the 3rd quarter. FMR LLC now owns 40,923 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 9,491 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of RE/MAX by 23.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,101 shares of the financial services provider’s stock valued at $674,000 after purchasing an additional 10,207 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of RE/MAX in the 3rd quarter worth approximately $143,000. Institutional investors own 93.17% of the company’s stock.

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.