RE/MAX (NYSE:RMAX) PT Lowered to $9.00

RE/MAX (NYSE:RMAX) had its price objective reduced by equities researchers at Stephens from $10.00 to $9.00 in a report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective would indicate a potential upside of 11.52% from the company’s current price.

A number of other research analysts have also issued reports on the company. Morgan Stanley lowered their target price on RE/MAX from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Wednesday, April 10th. Jonestrading restated a “hold” rating on shares of RE/MAX in a research report on Friday, March 1st. StockNews.com lowered RE/MAX from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Finally, Keefe, Bruyette & Woods cut their target price on RE/MAX from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.60.

RE/MAX Price Performance

RMAX opened at $8.07 on Monday. RE/MAX has a 12 month low of $6.94 and a 12 month high of $20.48. The stock’s 50 day moving average price is $7.82 and its 200 day moving average price is $9.67. The stock has a market cap of $147.52 million, a P/E ratio of -2.04 and a beta of 1.42.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. RE/MAX had a negative return on equity of 50.09% and a negative net margin of 22.51%. The firm had revenue of $76.60 million for the quarter, compared to analysts’ expectations of $77.19 million. Equities analysts anticipate that RE/MAX will post 0.75 EPS for the current year.

Insider Transactions at RE/MAX

In related news, EVP Abigail C. Lee sold 4,500 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total value of $38,295.00. Following the completion of the sale, the executive vice president now directly owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Adam K. Peterson purchased 54,000 shares of the stock in a transaction dated Monday, March 18th. The shares were acquired at an average cost of $7.64 per share, for a total transaction of $412,560.00. Following the acquisition, the insider now directly owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abigail C. Lee sold 4,500 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total value of $38,295.00. Following the sale, the executive vice president now owns 89,229 shares of the company’s stock, valued at $759,338.79. The disclosure for this sale can be found here. 5.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Jump Financial LLC grew its stake in shares of RE/MAX by 2.3% in the 4th quarter. Jump Financial LLC now owns 45,800 shares of the financial services provider’s stock valued at $611,000 after buying an additional 1,028 shares in the last quarter. SG Americas Securities LLC lifted its stake in RE/MAX by 12.7% in the first quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 1,469 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in RE/MAX by 14.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 12,212 shares of the financial services provider’s stock worth $163,000 after acquiring an additional 1,557 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in RE/MAX in the third quarter worth approximately $35,000. Finally, Empowered Funds LLC increased its stake in shares of RE/MAX by 7.9% during the 1st quarter. Empowered Funds LLC now owns 50,524 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 3,687 shares during the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

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.