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

StockNews.com upgraded shares of RE/MAX (NYSE:RMAX) from a hold rating to a buy rating in a report issued on Friday morning.

Several other equities analysts have also issued reports on the company. TheStreet lowered RE/MAX from a c- rating to a d rating in a research note on Friday, November 3rd. Stephens restated an equal weight rating and set a $21.00 price objective on shares of RE/MAX in a report on Monday, August 21st. Morgan Stanley downgraded RE/MAX from an equal weight rating to an underweight rating and decreased their price objective for the company from $19.50 to $9.00 in a report on Tuesday, November 7th. Finally, Jonestrading decreased their price objective on RE/MAX from $22.00 to $18.00 and set a buy rating for the company in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $16.00.

RE/MAX Stock Up 2.4 %

RMAX opened at $9.78 on Friday. The firm’s 50-day simple moving average is $11.91 and its 200-day simple moving average is $16.14. The firm has a market cap of $178.39 million, a price-to-earnings ratio of -2.92 and a beta of 1.54. The company has a debt-to-equity ratio of 18.39, a quick ratio of 1.32 and a current ratio of 1.32. RE/MAX has a twelve month low of $8.70 and a twelve month high of $24.28.

Insider Activity at RE/MAX

In other RE/MAX news, major shareholder Adam K. Peterson bought 23,065 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was acquired at an average price of $12.81 per share, for a total transaction of $295,462.65. Following the completion of the purchase, the insider now owns 2,648,172 shares of the company’s stock, valued at $33,923,083.32. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other RE/MAX news, major shareholder Adam K. Peterson bought 15,000 shares of RE/MAX stock in a transaction that occurred on Wednesday, October 18th. The shares were acquired at an average price of $10.74 per share, for a total transaction of $161,100.00. Following the acquisition, the insider now owns 2,907,522 shares of the company’s stock, valued at approximately $31,226,786.28. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Adam K. Peterson purchased 23,065 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were purchased at an average cost of $12.81 per share, for a total transaction of $295,462.65. Following the purchase, the insider now directly owns 2,648,172 shares in the company, valued at $33,923,083.32. The disclosure for this purchase can be found here. Insiders have acquired 90,437 shares of company stock valued at $1,027,186 over the last quarter. 4.61% of the stock is owned by insiders.

Institutional Investors Weigh In On RE/MAX

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of RE/MAX by 0.6% during the first quarter. BlackRock Inc. now owns 3,702,826 shares of the financial services provider’s stock valued at $102,679,000 after acquiring an additional 23,441 shares during the period. Magnolia Group LLC grew its position in shares of RE/MAX by 1.8% during the 2nd quarter. Magnolia Group LLC now owns 2,601,582 shares of the financial services provider’s stock worth $50,106,000 after buying an additional 45,743 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of RE/MAX by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,407,232 shares of the financial services provider’s stock valued at $26,398,000 after buying an additional 17,871 shares during the period. Renaissance Technologies LLC lifted its position in shares of RE/MAX by 5.3% in the first quarter. Renaissance Technologies LLC now owns 1,089,000 shares of the financial services provider’s stock worth $30,198,000 after purchasing an additional 54,500 shares in the last quarter. Finally, State Street Corp raised its position in RE/MAX by 1.0% during the first quarter. State Street Corp now owns 699,771 shares of the financial services provider’s stock worth $13,128,000 after acquiring an additional 6,884 shares in the last quarter. Institutional investors own 93.17% of the company’s stock.

About RE/MAX

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage 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.