RE/MAX (NYSE:RMAX) Cut to Hold at Wall Street Zen

Key Points

• RE/MAX has been downgraded from a "buy" rating to a "hold" rating by analysts at Wall Street Zen.
• Keefe, Bruyette & Woods also reduced their price target for RE/MAX shares from $10.00 to $9.00 while maintaining a "market perform" rating.
• Shares of RE/MAX have seen a 2.0% decline with a current trading price of $7.54, alongside significant insider transactions contributing to market movements.

RE/MAX (NYSE:RMAX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

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

RE/MAX Stock Performance

Shares of RMAX stock traded up $0.09 on Friday, hitting $7.60. 87,652 shares of the company's stock traded hands, compared to its average volume of 170,787. RE/MAX has a one year low of $6.90 and a one year high of $14.31. The company's fifty day simple moving average is $8.09 and its 200 day simple moving average is $8.43. The stock has a market capitalization of $151.51 million, a price-to-earnings ratio of 16.16 and a beta of 1.17.

Insiders Place Their Bets

In other news, EVP Abigail C. Lee sold 10,000 shares of RE/MAX stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $7.78, for a total value of $77,800.00. Following the completion of the sale, the executive vice president directly owned 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 legal filing with the SEC, which is available through this link. Corporate insiders own 6.80% of the company's stock.

Institutional Trading of RE/MAX

Several large investors have recently added to or reduced their stakes in the business. Capital World Investors increased its position in RE/MAX by 736.3% during the fourth quarter. Capital World Investors now owns 1,500,000 shares of the financial services provider's stock valued at $16,005,000 after acquiring an additional 1,320,628 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of RE/MAX by 24.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 895,668 shares of the financial services provider's stock worth $9,557,000 after purchasing an additional 178,599 shares during the last quarter. Invenomic Capital Management LP bought a new position in shares of RE/MAX in the first quarter worth about $1,468,000. Nuveen LLC bought a new position in shares of RE/MAX in the first quarter worth about $1,342,000. Finally, Norges Bank bought a new position in shares of RE/MAX in the fourth quarter worth about $1,058,000. 93.17% of the stock is currently owned by institutional investors.

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.