Real REMAX Group (NASDAQ:REAX) Stock Keeps Neutral Rating at Zelman & Associates

Key Points

• Zelman & Associates reaffirmed a “neutral” rating on Real Brokerage (REAX). Despite mixed analyst opinions, the stock has an overall “Moderate Buy” consensus and an average price target of $47.14.
• REAX opened at $17.14, well below its 12-month high of $45.00, while the company reported a quarterly loss of $0.30 per share on $700.58 million in revenue.
• Major shareholder David L. Liniger sold 52,876 shares for approximately $1.01 million; insiders retain 38.21% ownership, while institutional investors hold 53.28% of the stock.

Real REMAX Group (NASDAQ:REAX - Get Free Report)'s stock had its "neutral" rating reaffirmed by investment analysts at Zelman & Associates in a report issued on Wednesday, Benzinga reports.

A number of other equities research analysts have also recently issued reports on REAX. JonesTrading reissued a "buy" rating and set a $40.00 target price on shares of Real REMAX Group in a report on Tuesday, September 22nd. Zacks Research upgraded Real REMAX Group from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. Compass Point set a $40.00 price target on Real REMAX Group in a report on Wednesday, October 14th. Edward Jones cut their price target on Real REMAX Group from $50.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded Real REMAX Group from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Real REMAX Group presently has an average rating of "Moderate Buy" and an average target price of $47.14.

Real REMAX Group Stock Up 11.2%

REAX opened at $17.14 on Wednesday. The firm has a 50-day moving average price of $19.24 and a 200-day moving average price of $19.74. Real REMAX Group has a twelve month low of $13.25 and a twelve month high of $45.00. The company has a market capitalization of $373.48 million, a price-to-earnings ratio of -24.49 and a beta of 0.80.

Real REMAX Group (NASDAQ:REAX - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The company reported ($0.30) EPS for the quarter. The business had revenue of $700.58 million for the quarter. Real REMAX Group had a negative net margin of 0.72% and a negative return on equity of 25.32%. On average, sell-side analysts expect that Real REMAX Group will post -0.45 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder David L. Liniger sold 52,876 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $19.12, for a total value of $1,010,989.12. Following the sale, the insider directly owned 5,539,905 shares of the company's stock, valued at approximately $105,922,983.60. This represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 38.21% of the company's stock.

Hedge Funds Weigh In On Real REMAX Group

Several hedge funds have recently bought and sold shares of REAX. Meeder Asset Management Inc. increased its holdings in shares of Real REMAX Group by 9.3% in the first quarter. Meeder Asset Management Inc. now owns 31,707 shares of the company's stock worth $183,000 after purchasing an additional 2,700 shares during the period. SG Americas Securities LLC raised its position in shares of Real REMAX Group by 19.9% in the first quarter. SG Americas Securities LLC now owns 18,244 shares of the company's stock worth $105,000 after buying an additional 3,032 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Real REMAX Group by 28.5% during the first quarter. Public Employees Retirement System of Ohio now owns 14,434 shares of the company's stock valued at $83,000 after buying an additional 3,200 shares during the period. Engineers Gate Manager LP boosted its stake in Real REMAX Group by 29.3% during the second quarter. Engineers Gate Manager LP now owns 15,595 shares of the company's stock valued at $154,000 after buying an additional 3,530 shares during the period. Finally, State of Wyoming boosted its stake in Real REMAX Group by 5.8% during the first quarter. State of Wyoming now owns 125,939 shares of the company's stock valued at $315,000 after buying an additional 6,950 shares during the period. Hedge funds and other institutional investors own 53.28% of the company's stock.

About Real REMAX Group

Real Brokerage Inc is a technology-powered residential real estate brokerage serving real estate agents and their clients in the United States and Canada. The company operates through a cloud-based model that enables agents to manage their businesses remotely while providing brokerage services for home buyers and sellers.

Real’s platform is designed to support key aspects of the real estate transaction process, including lead management, transaction coordination, document management, communication and collaboration.

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