RE/MAX (NYSE:RMAX) Upgraded to “Hold” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of RE/MAX (NYSE:RMAX – Free Report) to a hold rating in a report issued on Saturday morning.

RMAX has been the topic of a number of other reports. Weiss Ratings restated a “sell (d)” rating on shares of RE/MAX in a research note on Friday, July 24th. JonesTrading upgraded shares of RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 target price on the stock in a report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.80.

Read Our Latest Stock Analysis on RE/MAX

RE/MAX Stock Performance

Shares of RMAX stock opened at $13.62 on Friday. The stock has a 50 day moving average price of $10.78 and a 200 day moving average price of $8.67. RE/MAX has a 52-week low of $5.46 and a 52-week high of $14.63. The firm has a market capitalization of $289.15 million, a P/E ratio of -32.43 and a beta of 1.82.

RE/MAX (NYSE:RMAX – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.05). RE/MAX had a negative net margin of 3.04% and a negative return on equity of 81.65%. The business had revenue of $51.72 million during the quarter, compared to the consensus estimate of $72.80 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RMAX. JPMorgan Chase & Co. raised its position in shares of RE/MAX by 95.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 533,201 shares of the financial services provider’s stock worth $5,028,000 after acquiring an additional 260,416 shares in the last quarter. Russell Investments Group Ltd. boosted its position in RE/MAX by 166.7% during the third quarter. Russell Investments Group Ltd. now owns 398,707 shares of the financial services provider’s stock valued at $3,760,000 after purchasing an additional 249,188 shares in the last quarter. Seven Six Capital Management LLC bought a new stake in RE/MAX during the first quarter valued at about $1,290,000. Jane Street Group LLC boosted its position in RE/MAX by 209.6% during the fourth quarter. Jane Street Group LLC now owns 234,829 shares of the financial services provider’s stock valued at $1,782,000 after purchasing an additional 158,986 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in RE/MAX in the first quarter valued at about $861,000. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

RE/MAX Company Profile

(Get Free Report)

RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.

Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.

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