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

RE/MAX Holdings, Inc. (NYSE:RMAX) has been assigned an average rating of “Reduce” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $10.38.

Several research firms recently issued reports on RMAX. Stephens increased their price target on shares of RE/MAX from $9.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. StockNews.com lowered RE/MAX from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th.

Insiders Place Their Bets

In other news, major shareholder Adam K. Peterson purchased 27,366 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average cost of $10.96 per share, with a total value of $299,931.36. Following the completion of the purchase, the insider now owns 3,178,040 shares of the company’s stock, valued at $34,831,318.40. This trade represents a 0.87 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 5.99% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Blair William & Co. IL increased its position in RE/MAX by 767.5% in the 1st quarter. Blair William & Co. IL now owns 109,611 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 96,976 shares during the period. Vanguard Group Inc. raised 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. Jacobs Levy Equity Management Inc. lifted its holdings in RE/MAX by 107.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider’s stock worth $2,560,000 after buying an additional 151,036 shares during the period. Magnolia Group LLC grew its position 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 valued at $25,306,000 after buying an additional 86,309 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of RE/MAX in the second quarter valued at about $1,778,000. Institutional investors own 93.17% of the company’s stock.

RE/MAX Stock Down 4.0 %

Shares of RE/MAX stock opened at $13.48 on Wednesday. RE/MAX has a 12-month low of $6.94 and a 12-month high of $14.31. The company has a market capitalization of $254.39 million, a price-to-earnings ratio of -24.63 and a beta of 1.36. The firm’s 50-day moving average price is $12.11 and its two-hundred day moving average price is $10.34.

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.