RE/MAX Holdings, Inc. (RMAX) Rating Lowered to Hold at BidaskClub
RE/MAX Holdings, Inc. (NYSE:RMAX) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
RMAX has been the topic of several other reports. Craig Hallum started coverage on shares of RE/MAX Holdings in a research report on Wednesday, August 30th. They set a “buy” rating and a $75.00 target price on the stock. Zacks Investment Research upgraded shares of RE/MAX Holdings from a “sell” rating to a “hold” rating in a report on Saturday, July 29th. Stephens lowered shares of RE/MAX Holdings from an “overweight” rating to an “equal weight” rating and set a $66.00 price target for the company. in a report on Monday, August 7th. Finally, Bank of America Corporation lowered shares of RE/MAX Holdings from a “neutral” rating to an “underperform” rating and set a $56.00 price target for the company. in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $63.80.
Shares of RE/MAX Holdings (RMAX) traded up 0.25% during trading on Friday, hitting $60.55. 2,985 shares of the stock were exchanged. RE/MAX Holdings has a 52 week low of $40.99 and a 52 week high of $66.10. The firm has a 50 day moving average price of $60.01 and a 200 day moving average price of $57.48. The firm has a market capitalization of $1.07 billion, a P/E ratio of 45.94 and a beta of 0.92.
RE/MAX Holdings (NYSE:RMAX) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.48 by $0.06. RE/MAX Holdings had a net margin of 12.45% and a return on equity of 79.94%. The business had revenue of $48.82 million for the quarter, compared to the consensus estimate of $48.29 million. During the same period last year, the company earned $0.46 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. Analysts forecast that RE/MAX Holdings will post $1.90 EPS for the current fiscal year.
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In other RE/MAX Holdings news, President Geoffrey D. Lewis sold 1,200 shares of RE/MAX Holdings stock in a transaction on Friday, August 4th. The shares were sold at an average price of $60.00, for a total transaction of $72,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.58% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Glen Harbor Capital Management LLC boosted its holdings in shares of RE/MAX Holdings by 127.3% in the 1st quarter. Glen Harbor Capital Management LLC now owns 1,700 shares of the financial services provider’s stock worth $101,000 after buying an additional 952 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in RE/MAX Holdings by 2.1% during the first quarter. State of Alaska Department of Revenue now owns 1,950 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 40 shares during the last quarter. Sei Investments Co. lifted its holdings in RE/MAX Holdings by 6.5% during the first quarter. Sei Investments Co. now owns 2,501 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 153 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in RE/MAX Holdings during the first quarter valued at about $159,000. Finally, Aperio Group LLC purchased a new stake in RE/MAX Holdings during the second quarter valued at about $211,000.
About RE/MAX Holdings
RE/MAX Holdings, Inc is a franchisor in the real estate industry, franchising real estate brokerages around the world under the RE/MAX brand and mortgage brokerages within the United States under the Motto Mortgage brand. The Company is a franchised business, with all of the RE/MAX branded brokerage office locations being operated by franchisees, including RE/MAX, LLC, which owns the RE/MAX brand, and sells franchises and franchising rights; Independent Regional Franchise Owner, which owns rights to sell brokerage franchises in a specified region; Franchisee (or Broker-Owner), which operates a RE/MAX-branded brokerage office, lists properties and recruits agents, and Agent (or Sales Associate), including branded independent contractors operating out of local franchise brokerage offices.
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