RE/MAX (NYSE:RMAX) Upgraded at StockNews.com

RE/MAX (NYSE:RMAX) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

RE/MAX Price Performance

Shares of RMAX stock traded up $0.11 during trading hours on Tuesday, hitting $8.63. The stock had a trading volume of 220,596 shares, compared to its average volume of 234,025. The firm has a market capitalization of $163.73 million, a PE ratio of 24.64 and a beta of 1.32. RE/MAX has a twelve month low of $6.94 and a twelve month high of $14.31. The stock’s 50 day moving average is $9.80 and its 200 day moving average is $11.20.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.10). The firm had revenue of $72.47 million during the quarter, compared to analyst estimates of $74.34 million. RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. As a group, equities analysts predict that RE/MAX will post 0.89 earnings per share for the current year.

Insider Activity

In other news, major shareholder Adam K. Peterson acquired 29,455 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average cost of $10.82 per share, with a total value of $318,703.10. Following the completion of the acquisition, the insider now owns 3,207,495 shares of the company’s stock, valued at $34,705,095.90. The trade was a 0.93 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders bought 69,889 shares of company stock valued at $729,432. 5.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RMAX. Harbor Capital Advisors Inc. increased its stake in shares of RE/MAX by 31.5% during the 4th 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 last quarter. State of Wyoming acquired a new position in shares of RE/MAX in the 4th quarter valued at approximately $91,000. Quest Partners LLC acquired a new position in shares of RE/MAX in the 3rd quarter valued at approximately $106,000. Martingale Asset Management L P acquired a new stake in shares of RE/MAX during the 4th quarter valued at approximately $110,000. Finally, Wells Fargo & Company MN increased its position in 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 worth $113,000 after buying an additional 2,286 shares during the period. Institutional investors and hedge funds 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.