RE/MAX (NYSE:RMAX) Releases Quarterly Earnings Results, Misses Expectations By $0.20 EPS

RE/MAX (NYSE:RMAX) released its quarterly earnings results on Friday. The financial services provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.20), FiscalAI reports. The business had revenue of $53.36 million during the quarter, compared to analyst estimates of $73.21 million. RE/MAX had a net margin of 2.80% and a negative return on equity of 73.77%.

RE/MAX Stock Performance

NYSE RMAX traded down $0.65 during mid-day trading on Friday, reaching $10.42. 825,413 shares of the stock were exchanged, compared to its average volume of 1,503,272. RE/MAX has a 1-year low of $5.46 and a 1-year high of $11.62. The business’s fifty day simple moving average is $6.75 and its 200 day simple moving average is $7.43. The stock has a market capitalization of $209.76 million, a PE ratio of 26.71 and a beta of 1.89.

Insider Transactions at RE/MAX

In related news, insider Adam K. Peterson sold 216,281 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $11.10, for a total transaction of $2,400,719.10. Following the sale, the insider owned 982,440 shares in the company, valued at approximately $10,905,084. This trade represents a 18.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 1,484,071 shares of company stock worth $14,850,900 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RE/MAX

Large investors have recently bought and sold shares of the stock. Strs Ohio purchased a new position in RE/MAX during the first quarter worth approximately $30,000. IFC & Insurance Marketing Inc. purchased a new position in RE/MAX during the fourth quarter worth approximately $76,000. Sei Investments Co. purchased a new position in RE/MAX during the second quarter worth approximately $86,000. Verition Fund Management LLC purchased a new position in RE/MAX during the fourth quarter worth approximately $106,000. Finally, Odyssean LLC purchased a new position in RE/MAX during the fourth quarter worth approximately $107,000. Hedge funds and other institutional investors own 93.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of RE/MAX in a research report on Monday, April 27th. 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 research report on Monday, April 27th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.80.

RE/MAX Company Profile

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.