RE/MAX (NYSE:RMAX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of RE/MAX (NYSE:RMAX) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Separately, Stephens lifted their target price on RE/MAX from $9.00 to $10.50 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.38.

RE/MAX Stock Down 1.5 %

Shares of NYSE RMAX opened at $13.28 on Thursday. The business has a fifty day simple moving average of $12.14 and a two-hundred day simple moving average of $10.39. The firm has a market cap of $250.59 million, a PE ratio of -24.59 and a beta of 1.36. RE/MAX has a twelve month low of $6.94 and a twelve month high of $14.31.

Insider Activity

In other RE/MAX news, major shareholder Adam K. Peterson bought 27,366 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average cost 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. This 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 hyperlink. Company insiders own 5.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Magnolia Group LLC grew its stake in RE/MAX by 2.8% during the 2nd quarter. Magnolia Group LLC now owns 3,124,152 shares of the financial services provider’s stock worth $25,306,000 after buying an additional 86,309 shares during the last quarter. Vanguard Group Inc. grew its stake 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 buying an additional 94,758 shares during the last quarter. Assenagon Asset Management S.A. grew 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 worth $6,526,000 after buying an additional 304,694 shares during the last quarter. AQR Capital Management LLC grew its stake in RE/MAX by 14.9% during 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 purchasing an additional 66,960 shares during the last quarter. Finally, State Street Corp grew its stake in 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 purchasing an additional 27,131 shares during the last quarter. 93.17% of the stock is currently owned by hedge funds and other 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.