RE/MAX (NYSE:RMAX) Upgraded 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 note issued to investors on Thursday.

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

RE/MAX Trading Down 1.5 %

NYSE:RMAX opened at $13.28 on Thursday. RE/MAX has a 12-month low of $6.94 and a 12-month high of $14.31. The stock has a 50-day moving average price of $12.14 and a 200 day moving average price of $10.39. The stock has a market capitalization of $250.59 million, a P/E ratio of -24.59 and a beta of 1.36.

Insider Buying and Selling at RE/MAX

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 stock was acquired at an average price of $10.96 per share, for a total transaction of $299,931.36. Following the acquisition, the insider now directly owns 3,178,040 shares of the company’s stock, valued at $34,831,318.40. This represents a 0.87 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RE/MAX

Several institutional investors have recently added to or reduced their stakes in the company. 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 last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of RE/MAX by 107.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider’s stock valued at $2,560,000 after purchasing an additional 151,036 shares during the last quarter. Magnolia Group LLC lifted its stake 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 purchasing an additional 86,309 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of RE/MAX in the 2nd quarter valued at approximately $1,778,000. Finally, AQR Capital Management LLC lifted its stake in shares of RE/MAX by 14.9% in 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. 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.