RE/MAX (NYSE:RMAX) Downgraded by StockNews.com to Buy

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

RE/MAX Stock Down 3.4 %

Shares of RMAX opened at $8.87 on Wednesday. RE/MAX has a 12-month low of $6.94 and a 12-month high of $14.31. The firm has a market capitalization of $168.38 million, a price-to-earnings ratio of 25.34 and a beta of 1.32. The stock’s 50-day moving average price is $9.57 and its 200 day moving average price is $11.05.

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

Insider Activity

In related news, major shareholder Adam K. Peterson acquired 15,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were bought at an average cost of $10.30 per share, for a total transaction of $154,500.00. Following the purchase, the insider now owns 3,236,131 shares in the company, valued at approximately $33,332,149.30. This trade represents a 0.47 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have purchased 40,434 shares of company stock worth $410,729. Company insiders own 5.99% of the company’s stock.

Institutional Investors Weigh In On RE/MAX

Several large investors have recently modified their holdings of RMAX. Two Sigma Advisers LP boosted its holdings in shares of RE/MAX by 19.3% in the 4th quarter. Two Sigma Advisers LP now owns 17,300 shares of the financial services provider’s stock worth $185,000 after acquiring an additional 2,800 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of RE/MAX by 7.7% in the 4th quarter. Two Sigma Investments LP now owns 50,505 shares of the financial services provider’s stock worth $539,000 after acquiring an additional 3,590 shares in the last quarter. State of Wyoming acquired a new position in shares of RE/MAX in the 4th quarter worth approximately $91,000. Sherbrooke Park Advisers LLC acquired a new position in shares of RE/MAX in the 4th quarter worth approximately $183,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of RE/MAX by 36.2% in the 4th quarter. Quantinno Capital Management LP now owns 14,807 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 3,934 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.