RE/MAX Holdings, Inc. (NYSE:RMAX) Receives Average Recommendation of “Reduce” from Brokerages

Shares of RE/MAX Holdings, Inc. (NYSE:RMAX) have earned a consensus recommendation of “Reduce” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $10.38.

Separately, StockNews.com upgraded shares of RE/MAX from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th.

RE/MAX Trading Down 2.9 %

Shares of RMAX stock opened at $11.94 on Friday. The company has a market capitalization of $225.31 million, a P/E ratio of -22.11 and a beta of 1.34. The business’s 50 day moving average is $12.23 and its two-hundred day moving average is $10.70. RE/MAX has a twelve month low of $6.94 and a twelve month high of $14.31.

Insiders Place Their Bets

In related news, major shareholder Adam K. Peterson purchased 27,366 shares of RE/MAX stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $10.96 per share, for a total transaction of $299,931.36. Following the transaction, the insider now owns 3,178,040 shares in the company, valued at approximately $34,831,318.40. The trade was a 0.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RE/MAX

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in RE/MAX by 23.3% in the third quarter. BNP Paribas Financial Markets now owns 54,101 shares of the financial services provider’s stock valued at $674,000 after purchasing an additional 10,207 shares during the last quarter. Magnolia Group LLC grew its stake 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 valued at $25,306,000 after acquiring an additional 86,309 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in RE/MAX during the 2nd quarter valued at about $1,778,000. AQR Capital Management LLC raised 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 worth $4,187,000 after acquiring an additional 66,960 shares during the last quarter. Finally, AXA S.A. purchased a new stake in shares of RE/MAX in the second quarter valued at about $487,000. 93.17% of the stock is owned by institutional investors and hedge funds.

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.