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

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

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Magnolia Group LLC raised its holdings in shares of RE/MAX by 2.8% in the 2nd quarter. Magnolia Group LLC now owns 3,124,152 shares of the financial services provider’s stock worth $25,306,000 after purchasing an additional 86,309 shares during the period. Assenagon Asset Management S.A. increased its position 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 worth $6,526,000 after purchasing an additional 304,694 shares in the last quarter. AQR Capital Management LLC raised its holdings in 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 valued at $4,187,000 after buying an additional 66,960 shares during the period. State Street Corp raised its holdings in RE/MAX by 6.6% in the third quarter. State Street Corp now owns 435,652 shares of the financial services provider’s stock valued at $5,424,000 after buying an additional 27,131 shares during the period. Finally, Geode Capital Management LLC lifted its position in RE/MAX by 1.9% during the third quarter. Geode Capital Management LLC now owns 415,791 shares of the financial services provider’s stock valued at $5,178,000 after buying an additional 7,688 shares in the last quarter. Institutional investors and hedge funds own 93.17% of the company’s stock.

RE/MAX Trading Down 2.9 %

RE/MAX stock opened at $11.94 on Friday. The stock has a 50-day moving average price of $12.23 and a 200 day moving average price of $10.70. RE/MAX has a 52 week low of $6.94 and a 52 week high of $14.31. The stock has a market cap of $225.31 million, a PE ratio of -22.11 and a beta of 1.34.

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.