StockNews.com Initiates Coverage on RE/MAX (NYSE:RMAX)

StockNews.com began coverage on shares of RE/MAX (NYSE:RMAXGet Rating) in a research report sent to investors on Thursday. The brokerage issued a hold rating on the financial services provider’s stock.

Separately, Stephens lowered RE/MAX from an overweight rating to an equal weight rating and lowered their target price for the stock from $28.00 to $21.00 in a report on Tuesday, February 21st.

RE/MAX Price Performance

Shares of RMAX opened at $16.96 on Thursday. The firm has a market capitalization of $302.23 million, a price-to-earnings ratio of 67.84 and a beta of 1.45. The company has a debt-to-equity ratio of 14.00, a quick ratio of 2.09 and a current ratio of 2.09. RE/MAX has a one year low of $16.78 and a one year high of $29.25. The stock’s fifty day moving average is $20.47 and its 200-day moving average is $19.82.

RE/MAX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Wednesday, March 8th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, March 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.42%. RE/MAX’s dividend payout ratio (DPR) is 368.00%.

Insider Activity at RE/MAX

In related news, major shareholder Adam K. Peterson purchased 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was acquired at an average price of $17.61 per share, for a total transaction of $581,130.00. Following the transaction, the insider now directly owns 2,477,084 shares of the company’s stock, valued at approximately $43,621,449.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other RE/MAX news, major shareholder Adam K. Peterson acquired 33,000 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was purchased at an average cost of $17.61 per share, for a total transaction of $581,130.00. Following the transaction, the insider now owns 2,477,084 shares of the company’s stock, valued at approximately $43,621,449.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Adam K. Peterson acquired 18,000 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were acquired at an average price of $18.15 per share, with a total value of $326,700.00. Following the completion of the transaction, the insider now directly owns 2,401,084 shares in the company, valued at approximately $43,579,674.60. The disclosure for this purchase can be found here. Insiders purchased 95,497 shares of company stock worth $1,698,690 in the last quarter. 3.37% of the stock is owned by company insiders.

Institutional Trading of RE/MAX

Several institutional investors have recently modified their holdings of RMAX. Raymond James & Associates acquired a new position in RE/MAX in the first quarter worth $368,000. Bank of New York Mellon Corp increased its holdings in shares of RE/MAX by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 206,357 shares of the financial services provider’s stock worth $5,724,000 after acquiring an additional 7,507 shares in the last quarter. American Century Companies Inc. boosted its position in shares of RE/MAX by 28.6% during the first quarter. American Century Companies Inc. now owns 99,191 shares of the financial services provider’s stock worth $2,751,000 after buying an additional 22,034 shares during the period. Citigroup Inc. boosted its position in shares of RE/MAX by 5.5% during the first quarter. Citigroup Inc. now owns 18,470 shares of the financial services provider’s stock worth $512,000 after buying an additional 969 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of RE/MAX by 49.9% during the first quarter. MetLife Investment Management LLC now owns 9,368 shares of the financial services provider’s stock worth $260,000 after buying an additional 3,119 shares during the period. Institutional investors and hedge funds own 93.34% of the company’s stock.

RE/MAX Company Profile

(Get Rating)

RE/MAX Holdings, Inc engages in the provision of real estate franchise services through its subsidiaries. It operates through the following segments: Real Estate, Mortgage, Marketing Funds, and Other. The Real Estate segment is comprised of the Company’s owned and independent global franchising operations under the RE/MAX brand name and technology and data subscription for Gadberry and the First app.

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