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 analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Separately, Keefe, Bruyette & Woods decreased their price objective on shares of 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 Stock Down 2.0%

Shares of RMAX opened at $7.54 on Friday. RE/MAX has a 52-week low of $6.90 and a 52-week high of $14.31. The stock has a fifty day simple moving average of $8.08 and a two-hundred day simple moving average of $8.47. The company has a market capitalization of $150.27 million, a PE ratio of 16.04 and a beta of 1.17.

Insider Transactions at RE/MAX

In other RE/MAX news, EVP Abigail C. Lee sold 10,000 shares of RE/MAX stock in a transaction that occurred 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 transaction, the executive vice president directly owned 151,874 shares in the company, valued at approximately $1,181,579.72. This trade represents a 6.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 modified their holdings of RMAX. CWM LLC lifted its position in RE/MAX by 312.5% during the second quarter. CWM LLC now owns 3,543 shares of the financial services provider's stock worth $29,000 after buying an additional 2,684 shares during the period. Strs Ohio acquired a new position in shares of RE/MAX during the 1st quarter valued at about $30,000. State of Wyoming purchased a new position in shares of RE/MAX during the 4th quarter worth about $91,000. Martingale Asset Management L P purchased a new position in shares of RE/MAX during the 4th quarter worth about $110,000. Finally, Wells Fargo & Company MN boosted its position in shares of RE/MAX by 27.5% in the fourth 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. 93.17% of the stock is currently owned by institutional investors and hedge funds.

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.

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