Nuveen LLC Takes Position in RE/MAX Holdings, Inc. $RMAX

Key Points

• Nuveen LLC has made a new investment of approximately $1.34 million in RE/MAX Holdings, acquiring over 160,000 shares, which represents about 0.84% of the company.
• Several large investors, including Charles Schwab and GAMMA Investing, have also increased their holdings in RE/MAX during the 1st quarter.
• RE/MAX was recently downgraded from a "buy" to a "hold" rating by Wall Street Zen, with a consensus price target of $9.00.

Nuveen LLC bought a new stake in shares of RE/MAX Holdings, Inc. (NYSE:RMAX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 160,276 shares of the financial services provider's stock, valued at approximately $1,342,000. Nuveen LLC owned 0.84% of RE/MAX as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RMAX. Charles Schwab Investment Management Inc. boosted its holdings in shares of RE/MAX by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 156,099 shares of the financial services provider's stock worth $1,307,000 after purchasing an additional 4,320 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in RE/MAX by 8.7% in the first quarter. Meeder Asset Management Inc. now owns 29,007 shares of the financial services provider's stock valued at $243,000 after acquiring an additional 2,331 shares during the last quarter. Victory Capital Management Inc. acquired a new position in RE/MAX in the first quarter valued at approximately $148,000. Magnolia Group LLC lifted its holdings in RE/MAX by 0.8% in the first quarter. Magnolia Group LLC now owns 3,247,929 shares of the financial services provider's stock valued at $27,185,000 after acquiring an additional 26,798 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in RE/MAX by 913.8% in the first quarter. GAMMA Investing LLC now owns 15,978 shares of the financial services provider's stock valued at $134,000 after purchasing an additional 14,402 shares during the period. 93.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered RE/MAX from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Hold rating, According to MarketBeat, RE/MAX currently has a consensus rating of "Hold" and a consensus target price of $9.00.

RE/MAX Stock Performance

RE/MAX stock traded up $0.19 during trading on Thursday, hitting $9.37. The company's stock had a trading volume of 53,894 shares, compared to its average volume of 181,805. The stock has a market capitalization of $187.68 million, a price-to-earnings ratio of 19.90 and a beta of 1.17. The stock's fifty day moving average is $8.46 and its 200 day moving average is $8.25. RE/MAX Holdings, Inc. has a 1-year low of $6.90 and a 1-year high of $14.31.

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.