Point72 Asia Singapore Pte. Ltd. Reduces Stake in RE/MAX Holdings, Inc. (NYSE:RMAX)

Point72 Asia Singapore Pte. Ltd. cut its holdings in shares of RE/MAX Holdings, Inc. (NYSE:RMAX) by 81.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,795 shares of the financial services provider’s stock after selling 12,495 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in RE/MAX were worth $35,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. nVerses Capital LLC increased its stake in shares of RE/MAX by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,700 shares during the period. Nisa Investment Advisors LLC grew its position in RE/MAX by 19,729.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,354 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 5,327 shares during the period. Quest Partners LLC purchased a new position in shares of RE/MAX during the 3rd quarter valued at about $106,000. SG Americas Securities LLC acquired a new position in shares of RE/MAX in the 3rd quarter valued at about $147,000. Finally, Algert Global LLC boosted its stake in shares of RE/MAX by 21.3% in the second quarter. Algert Global LLC now owns 18,287 shares of the financial services provider’s stock worth $148,000 after buying an additional 3,217 shares during the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.

RE/MAX Trading Down 3.0 %

NYSE RMAX opened at $12.50 on Friday. The stock has a market capitalization of $235.90 million, a price-to-earnings ratio of -23.15 and a beta of 1.34. The stock has a 50-day moving average of $12.22 and a 200 day moving average of $10.56. RE/MAX Holdings, Inc. has a twelve month low of $6.94 and a twelve month high of $14.31.

Insider Activity

In related news, major shareholder Adam K. Peterson bought 27,366 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was acquired at an average price of $10.96 per share, with a total value of $299,931.36. Following the completion of the purchase, the insider now directly 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 purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RMAX. StockNews.com upgraded RE/MAX from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Stephens boosted 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 note on Monday, August 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, RE/MAX presently has an average rating of “Hold” and an average price target of $10.38.

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.