Wall Street Zen Downgrades RE/MAX (NYSE:RMAX) to Buy

Wall Street Zen downgraded shares of RE/MAX (NYSE:RMAX - Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning.

Separately, Keefe, Bruyette & Woods reduced their target price on RE/MAX from $10.00 to $9.00 and set a "market perform" rating on the stock in a report on Monday, April 28th.

RE/MAX Price Performance

RMAX traded up $0.26 during mid-day trading on Friday, hitting $7.56. The stock had a trading volume of 45,482 shares, compared to its average volume of 148,285. The stock's fifty day simple moving average is $7.64 and its 200-day simple moving average is $9.47. The firm has a market capitalization of $150.71 million, a price-to-earnings ratio of 21.60 and a beta of 1.20. RE/MAX has a 1-year low of $6.90 and a 1-year high of $14.31.

Insider Buying and Selling at RE/MAX

In other news, EVP Abigail C. Lee sold 10,000 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $7.78, for a total transaction of $77,800.00. Following the completion of the transaction, the executive vice president now directly owns 151,874 shares of the company's stock, valued at $1,181,579.72. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On RE/MAX

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in RE/MAX by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 151,779 shares of the financial services provider's stock worth $1,619,000 after purchasing an additional 1,092 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in RE/MAX by 4.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,887 shares of the financial services provider's stock worth $266,000 after buying an additional 1,154 shares in the last quarter. Northern Trust Corp boosted its stake in shares of RE/MAX by 1.0% during the 4th quarter. Northern Trust Corp now owns 164,217 shares of the financial services provider's stock worth $1,752,000 after buying an additional 1,572 shares during the last quarter. Brandywine Global Investment Management LLC grew its holdings in shares of RE/MAX by 12.5% in the 1st quarter. Brandywine Global Investment Management LLC now owns 14,370 shares of the financial services provider's stock valued at $120,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of RE/MAX by 6.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 26,178 shares of the financial services provider's stock valued at $279,000 after acquiring an additional 1,662 shares during the last quarter. Institutional investors and hedge funds own 93.17% of the company's stock.

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.