Brokerages Set RE/MAX Holdings, Inc. (NYSE:RMAX) Target Price at $10.38

Shares of RE/MAX Holdings, Inc. (NYSE:RMAX) have received a consensus recommendation of “Reduce” from the four brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $9.17.

Separately, StockNews.com upgraded RE/MAX from a “hold” rating to a “buy” rating in a report on Thursday, November 28th.

Insider Buying and Selling

In other news, major shareholder Adam K. Peterson purchased 27,366 shares of the stock in a transaction on Monday, November 18th. The stock was purchased at an average price of $10.96 per share, with a total value of $299,931.36. Following the completion of the transaction, the insider now owns 3,178,040 shares in the company, valued at approximately $34,831,318.40. The trade was a 0.87 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RE/MAX

Large investors have recently modified their holdings of the company. Magnolia Group LLC raised its holdings in RE/MAX by 2.8% in 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 buying an additional 86,309 shares during the period. Assenagon Asset Management S.A. increased its position in shares of RE/MAX by 138.8% in the third quarter. Assenagon Asset Management S.A. now owns 524,188 shares of the financial services provider’s stock worth $6,526,000 after acquiring an additional 304,694 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of RE/MAX by 14.9% in the 2nd quarter. AQR Capital Management LLC now owns 516,953 shares of the financial services provider’s stock valued at $4,187,000 after acquiring an additional 66,960 shares during the period. State Street Corp lifted its holdings in shares of RE/MAX by 6.6% during the 3rd quarter. State Street Corp now owns 435,652 shares of the financial services provider’s stock valued at $5,424,000 after acquiring an additional 27,131 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in RE/MAX by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 415,791 shares of the financial services provider’s stock worth $5,178,000 after purchasing an additional 7,688 shares during the period. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

RE/MAX Stock Performance

Shares of RMAX opened at $10.63 on Friday. The company has a market capitalization of $200.61 million, a price-to-earnings ratio of -19.68 and a beta of 1.34. RE/MAX has a 1 year low of $6.94 and a 1 year high of $14.31. The company’s 50 day simple moving average is $12.21 and its 200 day simple moving average is $10.77.

RE/MAX Company Profile

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.