Jacobs Levy Equity Management Inc. Sells 47,211 Shares of RE/MAX Holdings, Inc. (NYSE:RMAX)

Jacobs Levy Equity Management Inc. lowered its stake in RE/MAX Holdings, Inc. (NYSE:RMAX - Free Report) by 13.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 300,667 shares of the financial services provider's stock after selling 47,211 shares during the period. Jacobs Levy Equity Management Inc. owned 1.59% of RE/MAX worth $3,743,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RMAX. nVerses Capital LLC lifted its holdings in RE/MAX by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the financial services provider's stock valued at $25,000 after buying an additional 1,700 shares during the period. Nisa Investment Advisors LLC boosted its position 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 worth $43,000 after purchasing an additional 5,327 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of RE/MAX during the third quarter worth $106,000. Paloma Partners Management Co bought a new stake in RE/MAX in the third quarter valued at about $143,000. Finally, SG Americas Securities LLC acquired a new position in RE/MAX in the third quarter valued at about $147,000. Institutional investors own 93.17% of the company's stock.

Insider Activity

In related news, major shareholder Adam K. Peterson bought 27,366 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $10.96 per share, with a total value of $299,931.36. Following the completion of the transaction, the insider now owns 3,178,040 shares in the company, valued at $34,831,318.40. The trade was a 0.87 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RMAX shares. Stephens boosted their target price on RE/MAX from $9.00 to $10.50 and gave the company an "equal weight" rating in a research note on Monday, August 12th. StockNews.com raised RE/MAX from a "hold" rating to a "buy" rating in a research note on Thursday, November 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $10.38.

RE/MAX Stock Performance

RE/MAX stock traded down $0.39 during midday trading on Friday, reaching $12.50. The stock had a trading volume of 158,199 shares, compared to its average volume of 212,336. RE/MAX Holdings, Inc. has a 1-year low of $6.94 and a 1-year high of $14.31. The firm's fifty day simple moving average is $12.22 and its 200-day simple moving average is $10.55. The stock has a market capitalization of $235.88 million, a P/E ratio of -23.15 and a beta of 1.34.

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.