RE/MAX (NYSE:RMAX) Downgraded to "Buy" Rating by Wall Street Zen

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

Separately, Keefe, Bruyette & Woods dropped 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 research note on Monday, April 28th.

RE/MAX Trading Down 0.8%

RMAX stock traded down $0.06 on Friday, hitting $8.23. 129,232 shares of the company's stock traded hands, compared to its average volume of 194,882. RE/MAX has a 1-year low of $6.90 and a 1-year high of $14.31. The stock has a market cap of $163.99 million, a price-to-earnings ratio of 19.14 and a beta of 1.17. The stock has a fifty day moving average of $7.93 and a 200-day moving average of $8.66.

Insider Activity at RE/MAX

In other news, EVP Abigail C. Lee sold 10,000 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $7.78, for a total transaction of $77,800.00. Following the transaction, the executive vice president owned 151,874 shares in the company, valued at $1,181,579.72. This 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. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RE/MAX

Hedge funds and other institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC increased its position in shares of RE/MAX by 90.8% during the 1st quarter. Voya Investment Management LLC now owns 35,714 shares of the financial services provider's stock worth $299,000 after purchasing an additional 16,994 shares in the last quarter. Strs Ohio bought a new position in RE/MAX during the 1st quarter worth approximately $30,000. Jane Street Group LLC boosted its stake in RE/MAX by 388.7% during the 1st quarter. Jane Street Group LLC now owns 57,213 shares of the financial services provider's stock worth $479,000 after acquiring an additional 45,506 shares during the last quarter. Empowered Funds LLC lifted its stake in RE/MAX by 7.1% in the first quarter. Empowered Funds LLC now owns 124,913 shares of the financial services provider's stock valued at $1,046,000 after buying an additional 8,318 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in RE/MAX in the first quarter valued at approximately $129,000. 93.17% of the stock is owned by institutional investors.

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.