RE/MAX (NYSE:RMAX) Stock Rating Lowered by StockNews.com

RE/MAX (NYSE:RMAX) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

RE/MAX Stock Up 3.5 %

Shares of RMAX traded up $0.31 during trading hours on Wednesday, hitting $9.12. The company had a trading volume of 169,649 shares, compared to its average volume of 227,221. The firm has a market cap of $173.03 million, a price-to-earnings ratio of 26.04 and a beta of 1.32. The business has a fifty day moving average of $9.60 and a 200-day moving average of $11.08. RE/MAX has a 12 month low of $6.94 and a 12 month high of $14.31.

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

Insiders Place Their Bets

In related news, major shareholder Adam K. Peterson purchased 11,798 shares of RE/MAX stock in a transaction dated Friday, January 10th. The shares were bought at an average cost of $9.64 per share, for a total transaction 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 40,434 shares of company stock worth $410,729 over the last ninety days. Corporate insiders own 5.99% of the company’s stock.

Institutional Investors Weigh In On RE/MAX

A number of hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in shares of RE/MAX by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 151,779 shares of the financial services provider’s stock valued at $1,619,000 after purchasing an additional 1,092 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in RE/MAX by 4.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,887 shares of the financial services provider’s stock valued at $266,000 after buying an additional 1,154 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in RE/MAX by 31.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,579 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,336 shares during the last quarter. Northern Trust Corp raised its holdings in RE/MAX by 1.0% during the 4th quarter. Northern Trust Corp now owns 164,217 shares of the financial services provider’s stock worth $1,752,000 after purchasing an additional 1,572 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in RE/MAX by 6.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 26,178 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 1,662 shares during the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.

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.