RE/MAX (NYSE:RMAX) Upgraded 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 morning.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of RE/MAX in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, RE/MAX has an average rating of “Reduce” and a consensus price target of $9.00.

RE/MAX Price Performance

RMAX opened at $7.75 on Friday. The stock has a market capitalization of $155.39 million, a P/E ratio of 16.49 and a beta of 1.17. The company’s 50 day simple moving average is $8.86 and its 200-day simple moving average is $8.40. RE/MAX has a one year low of $6.90 and a one year high of $14.31.

Insider Transactions at RE/MAX

In other RE/MAX news, Director Roger J. Dow sold 9,100 shares of the firm’s 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 transaction, the director directly owned 55,961 shares of the company’s stock, valued at approximately $524,354.57. This trade represents a 13.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.80% of the company’s stock.

Institutional Trading of RE/MAX

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

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.