Nuveen Asset Management LLC Trims Stake in RE/MAX Holdings, Inc. (NYSE:RMAX)

Nuveen Asset Management LLC reduced its holdings in shares of RE/MAX Holdings, Inc. (NYSE:RMAX - Free Report) by 56.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,916 shares of the financial services provider's stock after selling 116,125 shares during the quarter. Nuveen Asset Management LLC owned 0.47% of RE/MAX worth $938,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Martingale Asset Management L P bought a new stake in RE/MAX during the fourth quarter worth $110,000. Wells Fargo & Company MN boosted its holdings in RE/MAX by 27.5% during the 4th quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider's stock worth $113,000 after acquiring an additional 2,286 shares during the last quarter. AlphaQuest LLC grew its stake in shares of RE/MAX by 39.2% in the 4th quarter. AlphaQuest LLC now owns 11,829 shares of the financial services provider's stock worth $126,000 after acquiring an additional 3,329 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in shares of RE/MAX in the fourth quarter valued at about $136,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of RE/MAX in the fourth quarter valued at about $162,000. 93.17% of the stock is owned by institutional investors.

Insider Buying and Selling at RE/MAX

In other RE/MAX news, EVP Abigail C. Lee sold 10,000 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $7.78, for a total value of $77,800.00. Following the sale, the executive vice president now directly owns 151,874 shares in the company, valued at $1,181,579.72. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.80% of the company's stock.

Analysts Set New Price Targets

RMAX has been the topic of several analyst reports. Wall Street Zen cut shares of RE/MAX from a "strong-buy" rating to a "buy" rating in a report on Friday, May 30th. Keefe, Bruyette & Woods dropped their target price on shares of RE/MAX from $10.00 to $9.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th.

RE/MAX Price Performance

Shares of NYSE RMAX traded up $0.27 during mid-day trading on Friday, reaching $7.88. 131,226 shares of the company's stock were exchanged, compared to its average volume of 200,039. The firm has a 50-day moving average price of $7.58 and a two-hundred day moving average price of $9.42. The firm has a market capitalization of $157.09 million, a price-to-earnings ratio of 22.51 and a beta of 1.17. RE/MAX Holdings, Inc. has a 52 week low of $6.90 and a 52 week high of $14.31.

RE/MAX 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.