RE/MAX (NYSE:RMAX) Stock Rating Lowered by Wall Street Zen

RE/MAX (NYSE:RMAX) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of RE/MAX in a report on Friday. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $9.00.

RE/MAX Stock Performance

Shares of NYSE:RMAX opened at $7.92 on Friday. RE/MAX has a 1 year low of $6.90 and a 1 year high of $14.31. The stock has a market capitalization of $158.54 million, a P/E ratio of 16.84 and a beta of 1.17. The stock has a 50-day simple moving average of $9.10 and a 200-day simple moving average of $8.37.

Insiders Place Their Bets

In other RE/MAX news, Director Roger J. Dow sold 9,100 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $9.37, for a total value of $85,267.00. Following the completion of the transaction, the director owned 55,961 shares in the company, valued at $524,354.57. This represents a 13.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RE/MAX

Several institutional investors and hedge funds have recently made changes to their positions in RMAX. Hillsdale Investment Management Inc. boosted its stake in shares of RE/MAX by 80.7% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 492,139 shares of the financial services provider’s stock valued at $4,026,000 after buying an additional 219,859 shares during the last quarter. Invenomic Capital Management LP purchased a new position in shares of RE/MAX during the 1st quarter valued at approximately $1,468,000. Nuveen LLC purchased a new position in shares of RE/MAX during the 1st quarter valued at approximately $1,342,000. Norges Bank purchased a new position in shares of RE/MAX during the 2nd quarter valued at approximately $677,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of RE/MAX by 35.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 272,785 shares of the financial services provider’s stock valued at $2,231,000 after buying an additional 71,301 shares during the last quarter. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

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.