RE/MAX Holdings, Inc. (NYSE:RMAX) Given Consensus Recommendation of “Reduce” by Analysts

RE/MAX Holdings, Inc. (NYSE:RMAX) has been assigned an average rating of “Reduce” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $10.38.

A number of research analysts have weighed in on the company. Stephens upped their target price on 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 cut shares of RE/MAX from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th.

RE/MAX Trading Up 14.0 %

RMAX stock opened at $13.23 on Wednesday. The firm’s 50-day moving average price is $12.10 and its two-hundred day moving average price is $10.31. The stock has a market capitalization of $249.65 million, a price-to-earnings ratio of -24.50 and a beta of 1.36. RE/MAX has a 12-month low of $6.94 and a 12-month high of $13.70.

Insider Activity

In other news, major shareholder Adam K. Peterson acquired 27,366 shares of RE/MAX stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $10.96 per share, for a total transaction of $299,931.36. Following the purchase, the insider now directly owns 3,178,040 shares in the company, valued at $34,831,318.40. The trade was a 0.87 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 5.99% of the company’s stock.

Institutional Trading of RE/MAX

Institutional investors have recently made changes to their positions in the business. Magnolia Group LLC grew its stake in shares of 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 worth $25,306,000 after acquiring an additional 86,309 shares during the last quarter. Vanguard Group Inc. grew its position in 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. Assenagon Asset Management S.A. increased its stake in RE/MAX by 138.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 524,188 shares of the financial services provider’s stock valued at $6,526,000 after purchasing an additional 304,694 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of RE/MAX by 14.9% in the second quarter. AQR Capital Management LLC now owns 516,953 shares of the financial services provider’s stock worth $4,187,000 after buying an additional 66,960 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of RE/MAX by 6.6% during the third quarter. State Street Corp now owns 435,652 shares of the financial services provider’s stock worth $5,424,000 after buying an additional 27,131 shares during the period. Institutional investors and hedge funds own 93.17% of the company’s stock.

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.