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

RE/MAX (NYSE:RMAX) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

RE/MAX Stock Performance

RMAX stock traded up $0.11 during mid-day trading on Tuesday, hitting $8.63. 220,596 shares of the company were exchanged, compared to its average volume of 234,025. The firm has a market cap of $163.73 million, a P/E ratio of 24.64 and a beta of 1.32. The firm’s 50 day simple moving average is $9.80 and its 200 day simple moving average is $11.20. RE/MAX has a 1-year low of $6.94 and a 1-year high of $14.31.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $72.47 million during the quarter, compared to analyst estimates of $74.34 million. On average, equities research analysts predict that RE/MAX will post 0.89 EPS for the current fiscal year.

Insider Activity at RE/MAX

In related news, major shareholder Adam K. Peterson bought 11,798 shares of RE/MAX stock in a transaction that occurred on Friday, January 10th. The shares were acquired at an average cost of $9.64 per share, for a total transaction of $113,732.72. Following the completion of the acquisition, the insider now directly owns 3,247,929 shares of the company’s stock, valued at approximately $31,310,035.56. The trade was a 0.36 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders purchased a total of 69,889 shares of company stock valued at $729,432 over the last quarter. 5.99% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RE/MAX

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors increased its stake in RE/MAX by 736.3% in the 4th quarter. Capital World Investors now owns 1,500,000 shares of the financial services provider’s stock valued at $16,005,000 after buying an additional 1,320,628 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in RE/MAX by 229.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 354,651 shares of the financial services provider’s stock worth $4,415,000 after buying an additional 247,131 shares during the period. Dimensional Fund Advisors LP boosted its holdings in RE/MAX by 24.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 895,668 shares of the financial services provider’s stock valued at $9,557,000 after purchasing an additional 178,599 shares during the period. Prudential Financial Inc. boosted its holdings in RE/MAX by 101.6% in the 4th quarter. Prudential Financial Inc. now owns 212,762 shares of the financial services provider’s stock valued at $2,270,000 after purchasing an additional 107,207 shares during the period. Finally, Norges Bank bought a new position in RE/MAX in the 4th quarter valued at $1,058,000. Institutional investors and hedge funds 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.