RE/MAX (NYSE:RMAX) Price Target Lowered to $9.00 at Stephens

RE/MAX (NYSE:RMAX) had its target price cut by Stephens from $10.00 to $9.00 in a research report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the company. StockNews.com downgraded RE/MAX from a buy rating to a hold rating in a report on Monday, February 26th. Keefe, Bruyette & Woods cut their target price on shares of RE/MAX from $11.00 to $10.00 and set a market perform rating on the stock in a research note on Wednesday, February 28th. Jonestrading reissued a hold rating on shares of RE/MAX in a research note on Friday, March 1st. Finally, Morgan Stanley lowered their price objective on shares of RE/MAX from $9.00 to $7.00 and set an underweight rating for the company in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $11.60.

RE/MAX Stock Up 1.4 %

Shares of NYSE RMAX opened at $7.77 on Monday. The firm’s fifty day moving average is $7.83 and its 200 day moving average is $9.69. RE/MAX has a 52 week low of $6.94 and a 52 week high of $20.48.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. RE/MAX had a negative net margin of 22.51% and a negative return on equity of 50.09%. The firm had revenue of $76.60 million during the quarter, compared to the consensus estimate of $77.19 million. Equities research analysts expect that RE/MAX will post 0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other RE/MAX news, EVP Abigail C. Lee sold 4,500 shares of RE/MAX stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total transaction of $38,295.00. Following the completion of the transaction, the executive vice president now owns 89,229 shares in the company, valued at $759,338.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Adam K. Peterson purchased 54,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average price of $7.64 per share, for a total transaction of $412,560.00. Following the completion of the acquisition, the insider now directly owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Abigail C. Lee sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total transaction of $38,295.00. Following the sale, the executive vice president now directly owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The disclosure for this sale can be found here. Corporate insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On RE/MAX

Several hedge funds and other institutional investors have recently bought and sold shares of RMAX. Allspring Global Investments Holdings LLC purchased a new stake in shares of RE/MAX during the 3rd quarter valued at about $35,000. Patron Partners LLC bought a new position in RE/MAX in the first quarter worth approximately $93,000. SG Americas Securities LLC grew its position in shares of RE/MAX by 12.7% during the 1st quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 1,469 shares during the period. Robertson Stephens Wealth Management LLC bought a new stake in shares of RE/MAX during the 4th quarter valued at $139,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of RE/MAX in the 4th quarter worth $141,000. Institutional investors own 93.17% of the company’s stock.

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.