RE/MAX (NYSE:RMAX) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of RE/MAX (NYSE:RMAX) from a hold rating to a buy rating in a research report sent to investors on Sunday.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of RE/MAX in a report on Friday, October 31st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, RE/MAX presently has an average rating of “Reduce” and an average target price of $9.00.

RE/MAX Stock Performance

Shares of RE/MAX stock traded down $0.09 during trading hours on Friday, reaching $7.45. The company’s stock had a trading volume of 254,791 shares, compared to its average volume of 181,845. RE/MAX has a one year low of $6.90 and a one year high of $14.31. The company’s 50 day simple moving average is $8.93 and its 200 day simple moving average is $8.40. The stock has a market cap of $149.12 million, a P/E ratio of 15.84 and a beta of 1.17.

Insider Activity

In other news, Director Roger J. Dow sold 9,100 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $9.37, for a total value of $85,267.00. Following the completion of the transaction, the director directly owned 55,961 shares in the company, valued at $524,354.57. This trade represents a 13.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On RE/MAX

A number of institutional investors have recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in RE/MAX during the first quarter worth about $1,342,000. Martingale Asset Management L P grew its stake in shares of RE/MAX by 351.7% in the 1st quarter. Martingale Asset Management L P now owns 46,714 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 36,373 shares during the last quarter. Invenomic Capital Management LP acquired a new position in shares of RE/MAX in the 1st quarter worth approximately $1,468,000. Voya Investment Management LLC lifted its stake in RE/MAX by 90.8% during the first quarter. Voya Investment Management LLC now owns 35,714 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 16,994 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in RE/MAX during the first quarter worth approximately $148,000. 93.17% of the stock is currently owned by institutional investors and hedge funds.

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.