Zacks Research Upgrades The RMR Group (NASDAQ:RMR) to Hold

The RMR Group (NASDAQ:RMR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

RMR has been the topic of several other reports. Wall Street Zen upgraded The RMR Group from a “sell” rating to a “hold” rating in a report on Monday, December 22nd. LADENBURG THALM/SH SH started coverage on The RMR Group in a report on Wednesday, January 7th. They set a “buy” rating and a $17.00 price objective on the stock. Weiss Ratings upgraded The RMR Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, February 5th. Finally, B. Riley Financial dropped their price objective on The RMR Group from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

The RMR Group Stock Performance

Shares of NASDAQ:RMR traded down $0.08 during mid-day trading on Monday, hitting $16.52. 16,004 shares of the company traded hands, compared to its average volume of 174,574. The firm has a market cap of $529.66 million, a P/E ratio of 11.98 and a beta of 0.93. The RMR Group has a 52-week low of $13.48 and a 52-week high of $18.09. The firm’s 50 day simple moving average is $16.38 and its 200 day simple moving average is $15.74.

The RMR Group (NASDAQ:RMR) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The business had revenue of $180.42 million for the quarter, compared to the consensus estimate of $214.10 million. The RMR Group had a return on equity of 4.03% and a net margin of 3.52%. Equities research analysts expect that The RMR Group will post 1.51 EPS for the current fiscal year.

Institutional Investors Weigh In On The RMR Group

A number of institutional investors have recently made changes to their positions in RMR. Nantahala Capital Management LLC increased its holdings in shares of The RMR Group by 55.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,147,902 shares of the financial services provider’s stock valued at $18,768,000 after acquiring an additional 411,700 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of The RMR Group by 435.7% in the 2nd quarter. Bank of America Corp DE now owns 94,663 shares of the financial services provider’s stock valued at $1,548,000 after acquiring an additional 76,991 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of The RMR Group by 12.1% in the 4th quarter. Federated Hermes Inc. now owns 576,628 shares of the financial services provider’s stock valued at $8,592,000 after acquiring an additional 62,307 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of The RMR Group in the 1st quarter valued at approximately $988,000. Finally, GSA Capital Partners LLP bought a new stake in shares of The RMR Group in the 3rd quarter valued at approximately $801,000. 42.31% of the stock is currently owned by institutional investors.

About The RMR Group

The RMR Group, Inc (NASDAQ: RMR) is a publicly traded asset management company that specializes in providing comprehensive real estate and investment management services to both public and private entities. Acting as an external manager, RMR offers a range of services encompassing property management, asset management, fund administration, accounting, investor relations and compliance oversight. Its client base includes real estate investment trusts (REITs), real estate operating companies (REOCs), closed-end real estate funds and institutional investors.

Founded in 1986, RMR Group has built a business model centered on recurring fee revenue generated through long-term service agreements with its managed entities.