RE/MAX Holdings, Inc. (NYSE:RMAX) Receives Average Rating of “Reduce” from Brokerages

Shares of RE/MAX Holdings, Inc. (NYSE:RMAX) have been assigned a consensus rating of “Reduce” from the five research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $10.38.

A number of equities analysts have recently commented on the stock. Stephens lifted their price target on shares of RE/MAX from $9.00 to $10.50 and gave the stock an “equal weight” rating in a report on Monday, August 12th. StockNews.com downgraded RE/MAX from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th.

RE/MAX Price Performance

Shares of RE/MAX stock opened at $13.23 on Wednesday. The firm has a market capitalization of $249.65 million, a P/E ratio of -24.50 and a beta of 1.36. RE/MAX has a fifty-two week low of $6.94 and a fifty-two week high of $13.70. The company’s 50 day moving average price is $12.10 and its two-hundred day moving average price is $10.31.

Insider Transactions at RE/MAX

In other news, major shareholder Adam K. Peterson purchased 27,366 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $10.96 per share, with a total value of $299,931.36. Following the completion of the transaction, the insider now directly owns 3,178,040 shares of the company’s stock, valued at approximately $34,831,318.40. This trade represents a 0.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RE/MAX

Institutional investors have recently modified their holdings of the business. Blair William & Co. IL raised its stake in shares of RE/MAX by 767.5% during the 1st quarter. Blair William & Co. IL now owns 109,611 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 96,976 shares during the period. Vanguard Group Inc. increased its stake in shares of RE/MAX by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 1,121,789 shares of the financial services provider’s stock worth $9,838,000 after purchasing an additional 94,758 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in RE/MAX by 107.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider’s stock valued at $2,560,000 after purchasing an additional 151,036 shares during the last quarter. Magnolia Group LLC grew its holdings in RE/MAX by 2.8% during the second quarter. Magnolia Group LLC now owns 3,124,152 shares of the financial services provider’s stock valued at $25,306,000 after purchasing an additional 86,309 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in RE/MAX in the second quarter worth $1,778,000. 93.17% of the stock is owned by 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.