RE/MAX Holdings, Inc. (NYSE:RMAX) Given Average Recommendation of "Reduce" by Brokerages

Shares of RE/MAX Holdings, Inc. (NYSE:RMAX - Get Free Report) have been assigned an average rating of "Reduce" from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $10.38.

Separately, StockNews.com upgraded RE/MAX from a "hold" rating to a "buy" rating in a research note on Thursday, November 28th.

Insider Activity at RE/MAX

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

Institutional Investors Weigh In On RE/MAX

Institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in RE/MAX by 138.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 524,188 shares of the financial services provider's stock worth $6,526,000 after buying an additional 304,694 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in RE/MAX by 229.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 354,651 shares of the financial services provider's stock valued at $4,415,000 after acquiring an additional 247,131 shares in the last quarter. Magnolia Group LLC boosted 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 valued at $25,306,000 after acquiring an additional 86,309 shares in the last quarter. AQR Capital Management LLC increased its position in RE/MAX by 14.9% during the 2nd quarter. AQR Capital Management LLC now owns 516,953 shares of the financial services provider's stock valued at $4,187,000 after purchasing an additional 66,960 shares during the period. Finally, AXA S.A. bought a new position in RE/MAX in the 2nd quarter worth $487,000. Hedge funds and other institutional investors own 93.17% of the company's stock.

RE/MAX Stock Performance

NYSE RMAX traded down $0.36 on Friday, hitting $11.94. The stock had a trading volume of 88,128 shares, compared to its average volume of 187,733. The firm has a 50-day moving average of $12.23 and a 200-day moving average of $10.72. The company has a market capitalization of $225.31 million, a price-to-earnings ratio of -22.11 and a beta of 1.34. RE/MAX has a 52-week low of $6.94 and a 52-week high of $14.31.

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.