StockNews.com Upgrades RE/MAX (NYSE:RMAX) to “Buy”

RE/MAX (NYSE:RMAX) was upgraded by stock analysts at StockNews.com 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 company an “equal weight” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.38.

RE/MAX Price Performance

Shares of NYSE RMAX opened at $13.17 on Thursday. The firm’s 50-day moving average is $12.15 and its two-hundred day moving average is $10.41. The company has a market capitalization of $248.54 million, a PE ratio of -24.39 and a beta of 1.36. RE/MAX has a 12-month low of $6.94 and a 12-month high of $14.31.

Insider Activity

In other RE/MAX news, major shareholder Adam K. Peterson acquired 27,366 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $10.96 per share, for a total transaction of $299,931.36. Following the completion of the acquisition, the insider now directly owns 3,178,040 shares of the company’s stock, valued at $34,831,318.40. This trade represents a 0.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On RE/MAX

Several large investors have recently added to or reduced their stakes in RMAX. nVerses Capital LLC increased its stake in shares of RE/MAX by 566.7% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,700 shares during the last quarter. Rhumbline Advisers increased its position in RE/MAX by 7.6% during the second quarter. Rhumbline Advisers now owns 29,174 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 2,054 shares during the last quarter. Empowered Funds LLC raised its stake in RE/MAX by 5.2% during the third quarter. Empowered Funds LLC now owns 57,118 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 2,814 shares during the period. Algert Global LLC raised its stake in RE/MAX by 21.3% during the second quarter. Algert Global LLC now owns 18,287 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 3,217 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of RE/MAX by 19,729.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,354 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 5,327 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.