Real REMAX Group (NASDAQ:REAX) Stock Picked Up by Analysts at Citizens Jmp

Key Points

• Citizens JMP initiated coverage of Real Brokerage with a “market outperform” rating and a $40 price target, implying approximately 185% upside from the prior close.
• Analyst sentiment is broadly positive: REAX has a consensus “Moderate Buy” rating and an average price target of $47.14, although one analyst rates it a Sell.
• Shares opened at $14.04, near their 52-week low of $13.99. The company reported a quarterly loss of $0.30 per share and continues to have negative profitability metrics, including a projected full-year loss of $0.45 per share.

Equities research analysts at Citizens Jmp started coverage on shares of Real REMAX Group (NASDAQ:REAX - Get Free Report) in a note issued to investors on Wednesday, Benzinga reports. The firm set a "market outperform" rating and a $40.00 price target on the stock. Citizens Jmp's target price points to a potential upside of 184.90% from the stock's previous close.

A number of other research firms have also recently commented on REAX. Weiss Ratings upgraded shares of Real REMAX Group from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, September 8th. Citigroup assumed coverage on shares of Real REMAX Group in a research note on Wednesday. They set a "market outperform" rating on the stock. Compass Point set a $40.00 price target on shares of Real REMAX Group in a research note on Wednesday. Edward Jones decreased their price target on shares of 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, JonesTrading reiterated a "buy" rating and set a $40.00 price objective on shares of Real REMAX Group in a research note on Tuesday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Real REMAX Group presently has a consensus rating of "Moderate Buy" and an average target price of $47.14.

Real REMAX Group Stock Performance

Shares of NASDAQ REAX opened at $14.04 on Wednesday. The company has a market cap of $305.93 million, a PE ratio of -20.06 and a beta of 0.80. The business has a 50-day simple moving average of $19.74 and a two-hundred day simple moving average of $20.06. Real REMAX Group has a fifty-two week low of $13.99 and a fifty-two week high of $45.00.

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

Insiders Place Their Bets

In other Real REMAX Group news, major shareholder David L. Liniger sold 52,876 shares of the business's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $19.12, for a total transaction of $1,010,989.12. Following the sale, the insider owned 5,539,905 shares in the company, valued at approximately $105,922,983.60. The trade was a 0.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 38.21% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of REAX. Principal Financial Group Inc. acquired a new stake in shares of Real REMAX Group during the first quarter worth about $29,000. Abel Hall LLC purchased a new stake in Real REMAX Group in the first quarter valued at approximately $31,000. SmartHarvest Portfolios LLC acquired a new position in Real REMAX Group in the 1st quarter worth approximately $38,000. Royal Bank of Canada increased its holdings in Real REMAX Group by 126.1% in the 1st quarter. Royal Bank of Canada now owns 20,754 shares of the company's stock worth $52,000 after buying an additional 11,573 shares during the period. Finally, Private Client Services LLC raised its position in Real REMAX Group by 61.0% during the 2nd quarter. Private Client Services LLC now owns 36,754 shares of the company's stock worth $67,000 after buying an additional 13,926 shares during the last quarter. 53.28% of the stock is currently owned by hedge funds and other institutional investors.

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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