Jacobs Levy Equity Management Inc. Sells 172,901 Shares of RE/MAX Holdings, Inc. $RMAX

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in RE/MAX Holdings, Inc. by 56.3% in the first quarter, selling 172,901 shares and leaving it with 134,023 shares valued at approximately $1.12 million.
• Other hedge funds have also adjusted their positions, with GAMMA Investing LLC boosting its stake by 913.8% during the same period, among various other changes by institutional investors.
• Wall Street Zen downgraded RE/MAX from a "buy" to a "hold" rating, with the stock currently having an average target price of $9.00.

Jacobs Levy Equity Management Inc. cut its holdings in shares of RE/MAX Holdings, Inc. (NYSE:RMAX - Free Report) by 56.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,023 shares of the financial services provider's stock after selling 172,901 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.71% of RE/MAX worth $1,122,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in RE/MAX during the first quarter valued at about $1,342,000. Martingale Asset Management L P lifted its holdings in shares of RE/MAX by 351.7% in the first 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 in the last quarter. GAMMA Investing LLC lifted its holdings in shares of RE/MAX by 913.8% in the first quarter. GAMMA Investing LLC now owns 15,978 shares of the financial services provider's stock worth $134,000 after buying an additional 14,402 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of RE/MAX by 19.3% in the fourth quarter. Two Sigma Advisers LP now owns 17,300 shares of the financial services provider's stock worth $185,000 after buying an additional 2,800 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of RE/MAX by 20.3% in the fourth quarter. Ameriprise Financial Inc. now owns 102,714 shares of the financial services provider's stock worth $1,096,000 after buying an additional 17,316 shares in the last quarter. 93.17% of the stock is owned by hedge funds and other institutional investors.

RE/MAX Price Performance

NYSE RMAX traded up $0.09 on Wednesday, reaching $9.90. 352,797 shares of the company's stock traded hands, compared to its average volume of 198,454. RE/MAX Holdings, Inc. has a 12 month low of $6.90 and a 12 month high of $14.31. The stock has a 50-day simple moving average of $8.75 and a 200 day simple moving average of $8.26. The stock has a market cap of $198.30 million, a PE ratio of 21.06 and a beta of 1.17.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of RE/MAX from a "hold" rating to a "buy" rating in a report on Saturday. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, RE/MAX has a consensus rating of "Hold" and a consensus price target of $9.00.

RE/MAX Company Profile

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.