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

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

RE/MAX Trading Down 3.6 %

NYSE RMAX traded down $0.32 on Thursday, reaching $8.56. The stock had a trading volume of 77,302 shares, compared to its average volume of 223,755. The company has a market capitalization of $162.49 million, a price-to-earnings ratio of 24.46 and a beta of 1.32. The business has a 50 day moving average price of $9.48 and a 200 day moving average price of $10.98. RE/MAX has a 1 year low of $6.94 and a 1 year high of $14.31.

RE/MAX (NYSE:RMAX - Get Free Report) last announced 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). The business had revenue of $72.47 million for the quarter, compared to analyst estimates of $74.34 million. RE/MAX had a negative return on equity of 38.69% and a net margin of 2.32%. On average, analysts anticipate that RE/MAX will post 0.89 earnings per share for the current fiscal year.

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Insiders Place Their Bets

In other news, major shareholder Adam K. Peterson acquired 15,000 shares of RE/MAX stock in a transaction dated Thursday, January 2nd. The stock was acquired at an average cost of $10.30 per share, for a total transaction of $154,500.00. Following the completion of the purchase, the insider now owns 3,236,131 shares of the company's stock, valued at $33,332,149.30. This represents a 0.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased 40,434 shares of company stock valued at $410,729 over the last quarter. Insiders own 5.99% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RMAX. Harbor Capital Advisors Inc. boosted its holdings in 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 valued at $60,000 after acquiring an additional 1,336 shares during the period. State of Wyoming acquired a new stake in RE/MAX in the 4th quarter valued at approximately $91,000. Quest Partners LLC bought a new position in RE/MAX in the 3rd quarter worth approximately $106,000. Martingale Asset Management L P acquired a new position in shares of RE/MAX during the fourth quarter worth approximately $110,000. Finally, Wells Fargo & Company MN boosted its position in shares of RE/MAX by 27.5% in the fourth quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider's stock valued at $113,000 after acquiring an additional 2,286 shares during the period. 93.17% of the stock is currently owned by institutional investors and hedge funds.

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.