RE/MAX (NYSE:RMAX) Upgraded by StockNews.com to “Buy” Rating

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 boosted 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 given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.38.

RE/MAX Stock Performance

Shares of NYSE:RMAX opened at $13.16 on Thursday. The firm has a market cap of $248.33 million, a price-to-earnings ratio of -24.37 and a beta of 1.36. The firm has a fifty day moving average price of $12.17 and a 200 day moving average price of $10.44. RE/MAX has a fifty-two week low of $6.94 and a fifty-two week high of $14.31.

Insider Transactions at RE/MAX

In related 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 cost of $10.96 per share, with a total value of $299,931.36. Following the transaction, the insider now owns 3,178,040 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.99% of the company’s stock.

Institutional Trading of RE/MAX

Hedge funds have recently modified their holdings of the stock. Magnolia Group LLC boosted 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 worth $25,306,000 after purchasing an additional 86,309 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of RE/MAX by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 1,121,789 shares of the financial services provider’s stock valued at $9,838,000 after purchasing an additional 94,758 shares during the period. Assenagon Asset Management S.A. boosted its holdings in RE/MAX by 138.8% during the third 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 in the last quarter. AQR Capital Management LLC grew its position in RE/MAX by 14.9% during 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. Finally, State Street Corp increased 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 in the last quarter. Hedge funds and other institutional investors 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.