RE/MAX (NYSE:RMAX) Downgraded by Morgan Stanley to “Underweight”

Morgan Stanley downgraded shares of RE/MAX (NYSE:RMAX) from an equal weight rating to an underweight rating in a research note published on Tuesday morning, MarketBeat reports. The firm currently has $9.00 target price on the financial services provider’s stock, down from their previous target price of $19.50.

Several other brokerages also recently commented on RMAX. TheStreet downgraded shares of RE/MAX from a c- rating to a d rating in a report on Friday. Jonestrading lowered their target price on shares of RE/MAX from $22.00 to $18.00 and set a buy rating for the company in a report on Friday, November 3rd. BTIG Research assumed coverage on shares of RE/MAX in a report on Monday, July 17th. They issued a neutral rating for the company. Stephens reiterated an equal weight rating and issued a $21.00 target price on shares of RE/MAX in a report on Monday, August 21st. Finally, StockNews.com lowered shares of RE/MAX from a buy rating to a hold rating in a research report on Sunday, October 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $16.00.

RE/MAX Stock Performance

RMAX opened at $9.91 on Tuesday. The company’s fifty day moving average price is $12.97 and its two-hundred day moving average price is $16.73. The company has a market cap of $179.58 million, a price-to-earnings ratio of -165.06 and a beta of 1.54. The company has a current ratio of 1.32, a quick ratio of 2.54 and a debt-to-equity ratio of 18.39. RE/MAX has a 1-year low of $9.33 and a 1-year high of $24.28.

Insider Activity at RE/MAX

In other RE/MAX news, major shareholder Adam K. Peterson bought 15,000 shares of the business’s stock in a transaction on Wednesday, October 18th. The stock was purchased at an average price of $10.74 per share, for a total transaction of $161,100.00. Following the completion of the transaction, the insider now directly owns 2,907,522 shares of the company’s stock, valued at $31,226,786.28. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other RE/MAX news, major shareholder Adam K. Peterson bought 15,000 shares of the business’s stock in a transaction on Wednesday, October 18th. The stock was purchased at an average price of $10.74 per share, for a total transaction of $161,100.00. Following the completion of the transaction, the insider now directly owns 2,907,522 shares of the company’s stock, valued at $31,226,786.28. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Adam K. Peterson bought 51,850 shares of the business’s stock in a transaction on Monday, October 16th. The shares were acquired at an average price of $10.86 per share, with a total value of $563,091.00. Following the transaction, the insider now directly owns 2,892,522 shares of the company’s stock, valued at $31,412,788.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 90,437 shares of company stock worth $1,027,186. 3.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On RE/MAX

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new position in shares of RE/MAX in the third quarter valued at approximately $5,792,000. Magnolia Group LLC boosted its position in shares of RE/MAX by 7.8% in the first quarter. Magnolia Group LLC now owns 2,555,839 shares of the financial services provider’s stock valued at $47,948,000 after acquiring an additional 184,788 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of RE/MAX by 534.9% in the second quarter. Goldman Sachs Group Inc. now owns 197,685 shares of the financial services provider’s stock valued at $4,848,000 after acquiring an additional 166,548 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of RE/MAX by 11.6% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 595,100 shares of the financial services provider’s stock valued at $11,462,000 after acquiring an additional 61,670 shares during the period. Finally, Ergoteles LLC bought a new position in shares of RE/MAX in the first quarter valued at approximately $1,550,000. Institutional investors own 93.17% of the company’s stock.

About RE/MAX

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage 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.