RE/MAX (NYSE:RMAX) Rating Increased to Buy at StockNews.com

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

Separately, Stephens upped their target price on shares of 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, RE/MAX has a consensus rating of “Hold” and an average price target of $10.38.

RE/MAX Stock Down 0.9 %

Shares of RMAX opened at $13.16 on Thursday. The stock has a fifty day simple moving average of $12.17 and a two-hundred day simple moving average of $10.44. RE/MAX has a 52-week low of $6.94 and a 52-week high of $14.31. The company has a market capitalization of $248.33 million, a PE ratio of -24.37 and a beta of 1.36.

Insider Activity

In other news, major shareholder Adam K. Peterson purchased 27,366 shares of the business’s stock in a transaction on Monday, November 18th. The shares were bought 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 directly owns 3,178,040 shares in the company, valued at approximately $34,831,318.40. This represents a 0.87 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.99% of the company’s stock.

Institutional Investors Weigh In On RE/MAX

Large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its position in RE/MAX by 138.8% in 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of RE/MAX by 229.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 354,651 shares of the financial services provider’s stock valued at $4,415,000 after buying an additional 247,131 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of RE/MAX by 107.3% during the first 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. Vanguard Group Inc. boosted its stake in shares of RE/MAX by 9.2% during the first 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 period. Finally, Magnolia Group LLC increased its position in 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 acquiring an additional 86,309 shares during the period. 93.17% of the stock is owned by institutional investors and hedge funds.

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.