RE/MAX (NYSE:RMAX) Price Target Lowered to $7.00 at Morgan Stanley

RE/MAX (NYSE:RMAX - Free Report) had its price objective decreased by Morgan Stanley from $9.00 to $7.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the financial services provider's stock.

Several other equities analysts have also recently weighed in on the company. StockNews.com cut RE/MAX from a buy rating to a hold rating in a research report on Monday, February 26th. Jonestrading reissued a hold rating on shares of RE/MAX in a research note on Friday, March 1st. JPMorgan Chase & Co. restated an underweight rating and set a $14.00 target price (down from $16.00) on shares of RE/MAX in a research report on Monday, December 18th. Finally, Keefe, Bruyette & Woods reduced their target price on RE/MAX from $11.00 to $10.00 and set a market perform rating for the company in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $14.00.

RE/MAX Stock Performance

NYSE:RMAX traded down $0.56 during trading hours on Wednesday, reaching $7.70. The stock had a trading volume of 529,620 shares, compared to its average volume of 294,528. The stock has a market cap of $140.66 million, a P/E ratio of -2.02 and a beta of 1.40. RE/MAX has a 12-month low of $7.24 and a 12-month high of $20.48. The stock has a 50 day simple moving average of $8.68 and a 200 day simple moving average of $10.34.

RE/MAX (NYSE:RMAX - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $76.60 million during the quarter, compared to analysts' expectations of $77.19 million. RE/MAX had a negative return on equity of 116.18% and a negative net margin of 21.19%. On average, equities analysts expect that RE/MAX will post 0.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Abigail C. Lee sold 4,500 shares of the company's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total value of $38,295.00. Following the completion of the transaction, the executive vice president now directly owns 89,229 shares in the company, valued at approximately $759,338.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Adam K. Peterson acquired 54,000 shares of the business's stock in a transaction dated Monday, March 18th. The stock was purchased at an average cost of $7.64 per share, for a total transaction of $412,560.00. Following the acquisition, the insider now owns 3,037,843 shares of the company's stock, valued at $23,209,120.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Abigail C. Lee sold 4,500 shares of the company's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total value of $38,295.00. Following the completion of the transaction, the executive vice president now owns 89,229 shares of the company's stock, valued at $759,338.79. The disclosure for this sale can be found here. 3.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On RE/MAX

Several institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new stake in RE/MAX during the 4th quarter valued at about $356,000. G2 Investment Partners Management LLC purchased a new stake in RE/MAX during the 4th quarter valued at about $1,000,000. HST Ventures LLC purchased a new stake in RE/MAX during the 4th quarter valued at about $578,000. Brevan Howard Capital Management LP purchased a new stake in RE/MAX during the 4th quarter valued at about $190,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in RE/MAX by 11.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 117,555 shares of the financial services provider's stock valued at $1,567,000 after acquiring an additional 12,421 shares during the period. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

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.