Brokerages Set RE/MAX Holdings, Inc. (NYSE:RMAX) Price Target at $14.40

RE/MAX Holdings, Inc. (NYSE:RMAX) has been given a consensus rating of “Reduce” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $14.40.

Several brokerages have commented on RMAX. JPMorgan Chase & Co. restated an “underweight” rating and set a $14.00 price objective (down from $16.00) on shares of RE/MAX in a research note on Monday, December 18th. Jonestrading restated a “hold” rating on shares of RE/MAX in a research note on Friday, March 1st. Keefe, Bruyette & Woods decreased their price objective on shares of RE/MAX from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, February 28th. Finally, StockNews.com cut shares of RE/MAX from a “buy” rating to a “hold” rating in a research note on Monday, February 26th.

RE/MAX Stock Up 2.7 %

RMAX stock opened at $8.27 on Friday. The firm has a 50 day moving average of $8.74 and a 200 day moving average of $10.36. The stock has a market capitalization of $151.18 million, a PE ratio of -2.17 and a beta of 1.40. RE/MAX has a 52 week low of $7.24 and a 52 week high of $20.48.

RE/MAX (NYSE:RMAX) last released its earnings results on Thursday, February 22nd. The financial services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $76.60 million during the quarter, compared to analysts’ expectations of $77.19 million. RE/MAX had a negative net margin of 21.19% and a negative return on equity of 116.18%. On average, equities research analysts expect that RE/MAX will post 0.77 earnings per share for the current year.

Insider Activity at RE/MAX

In related news, EVP Abigail C. Lee sold 4,500 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total value of $38,295.00. Following the completion of the transaction, the executive vice president now directly owns 89,229 shares in the company, valued at approximately $759,338.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Abigail C. Lee sold 4,500 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total value of $38,295.00. Following the completion of the sale, the executive vice president now owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Adam K. Peterson purchased 54,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average cost of $7.64 per share, with a total value of $412,560.00. Following the acquisition, the insider now owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The disclosure for this purchase can be found here. Company insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On RE/MAX

Large investors have recently modified their holdings of the business. Captrust Financial Advisors grew its holdings in shares of RE/MAX by 115.0% during the first quarter. Captrust Financial Advisors now owns 1,017 shares of the financial services provider’s stock worth $28,000 after buying an additional 544 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of RE/MAX during the 3rd quarter valued at about $35,000. Point72 Middle East FZE acquired a new position in shares of RE/MAX during the 4th quarter valued at about $35,000. Amundi acquired a new position in shares of RE/MAX during the 4th quarter valued at about $41,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of RE/MAX by 466.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,433 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 4,474 shares during 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.