RE/MAX Holdings, Inc. (NYSE:RMAX) Receives $10.38 Consensus Price Target from Brokerages

RE/MAX Holdings, Inc. (NYSE:RMAX - Get Free Report) has received an average rating of "Reduce" from the five research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $10.38.

A number of brokerages recently commented on RMAX. StockNews.com cut RE/MAX from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Stephens lifted their price objective on shares of RE/MAX from $9.00 to $10.50 and gave the company an "equal weight" rating in a research note on Monday, August 12th.

Insider Buying and Selling at RE/MAX

In related news, major shareholder Adam K. Peterson acquired 27,366 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $10.96 per share, for a total transaction of $299,931.36. Following the completion of the transaction, the insider now owns 3,178,040 shares in the company, valued at approximately $34,831,318.40. This trade represents a 0.87 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.99% of the stock is owned by corporate insiders.

Institutional Trading of RE/MAX

Several institutional investors have recently added to or reduced their stakes in RMAX. Blair William & Co. IL grew its position in shares of RE/MAX by 767.5% in the 1st quarter. Blair William & Co. IL now owns 109,611 shares of the financial services provider's stock worth $961,000 after buying an additional 96,976 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of RE/MAX by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 1,121,789 shares of the financial services provider's stock valued at $9,838,000 after purchasing an additional 94,758 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of RE/MAX by 107.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider's stock valued at $2,560,000 after buying an additional 151,036 shares in the last quarter. Magnolia Group LLC grew its holdings in RE/MAX by 2.8% in the second quarter. Magnolia Group LLC now owns 3,124,152 shares of the financial services provider's stock worth $25,306,000 after purchasing an additional 86,309 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in RE/MAX during the 2nd quarter valued at approximately $1,778,000. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

RE/MAX Trading Down 1.1 %

NYSE RMAX traded down $0.12 during trading on Wednesday, reaching $11.29. The company's stock had a trading volume of 134,988 shares, compared to its average volume of 268,686. RE/MAX has a 12 month low of $6.94 and a 12 month high of $13.70. The firm has a 50 day moving average price of $12.08 and a 200 day moving average price of $10.23. The firm has a market capitalization of $213.04 million, a price-to-earnings ratio of -20.91 and a beta of 1.36.

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.