RE/MAX (NYSE:RMAX) Lowered to "Buy" Rating by StockNews.com

RE/MAX (NYSE:RMAX - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued on Wednesday.

RE/MAX Stock Performance

NYSE RMAX traded down $0.31 on Wednesday, reaching $8.87. The stock had a trading volume of 266,672 shares, compared to its average volume of 223,246. The stock has a market cap of $168.38 million, a P/E ratio of 25.34 and a beta of 1.32. The business's 50-day moving average price is $9.57 and its 200 day moving average price is $11.05. RE/MAX has a 12-month low of $6.94 and a 12-month high of $14.31.

RE/MAX (NYSE:RMAX - Get Free Report) 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 analysts' expectations of $74.34 million. On average, sell-side analysts predict that RE/MAX will post 0.89 earnings per share for the current year.

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Insider Activity at RE/MAX

In other news, major shareholder Adam K. Peterson acquired 13,636 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $10.45 per share, for a total transaction of $142,496.20. Following the transaction, the insider now directly owns 3,221,131 shares in the company, valued at approximately $33,660,818.95. This represents a 0.43 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have purchased 40,434 shares of company stock worth $410,729 in the last quarter. Company insiders own 5.99% of the company's stock.

Hedge Funds Weigh In On RE/MAX

A number of large investors have recently bought and sold shares of RMAX. Harbor Capital Advisors Inc. increased its stake in shares of RE/MAX by 31.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,579 shares of the financial services provider's stock worth $60,000 after acquiring an additional 1,336 shares during the period. State of Wyoming purchased a new stake in RE/MAX in the 4th quarter valued at approximately $91,000. Quest Partners LLC acquired a new position in RE/MAX during the 3rd quarter worth approximately $106,000. Martingale Asset Management L P purchased a new position in shares of RE/MAX during the 4th quarter worth approximately $110,000. Finally, Wells Fargo & Company MN raised its stake in shares of RE/MAX by 27.5% during the 4th quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider's stock worth $113,000 after buying an additional 2,286 shares in 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.