RE/MAX (NYSE:RMAX) Upgraded at StockNews.com

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

RE/MAX Stock Performance

Shares of NYSE:RMAX opened at $8.56 on Thursday. The company has a market capitalization of $162.49 million, a P/E ratio of 24.46 and a beta of 1.32. The company’s 50-day moving average is $9.48 and its 200 day moving average is $10.98. RE/MAX has a fifty-two week low of $6.94 and a fifty-two week high of $14.31.

RE/MAX (NYSE:RMAX) last released its earnings results on Thursday, February 20th. The financial services provider reported $0.19 earnings per share 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 company had revenue of $72.47 million during the quarter, compared to analysts’ expectations of $74.34 million. As a group, research analysts predict that RE/MAX will post 0.89 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Adam K. Peterson bought 11,798 shares of the company’s stock in a transaction on Friday, January 10th. The shares were purchased at an average price of $9.64 per share, for a total transaction of $113,732.72. Following the completion of the transaction, the insider now directly owns 3,247,929 shares in the company, valued at approximately $31,310,035.56. The trade was a 0.36 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders bought 40,434 shares of company stock valued at $410,729. 5.99% of the stock is owned by insiders.

Hedge Funds Weigh In On RE/MAX

Several hedge funds have recently made changes to their positions in RMAX. Magnolia Group LLC grew its holdings in RE/MAX by 2.2% during the 4th quarter. Magnolia Group LLC now owns 3,221,131 shares of the financial services provider’s stock valued at $34,369,000 after buying an additional 70,457 shares in the last quarter. Capital World Investors grew its position in RE/MAX by 736.3% during the fourth quarter. Capital World Investors now owns 1,500,000 shares of the financial services provider’s stock worth $16,005,000 after buying an additional 1,320,628 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 acquiring an additional 178,599 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of RE/MAX by 2.5% during the fourth quarter. Renaissance Technologies LLC now owns 808,369 shares of the financial services provider’s stock worth $8,625,000 after purchasing an additional 19,969 shares in the last quarter. Finally, State Street Corp increased its position in shares of RE/MAX by 6.6% in the third quarter. State Street Corp now owns 435,652 shares of the financial services provider’s stock worth $5,424,000 after purchasing an additional 27,131 shares during the last quarter. 93.17% of the stock is currently owned by hedge funds and other 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.