RE/MAX (NYSE:RMAX) Upgraded at Wall Street Zen

Key Points

• RE/MAX was upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating a positive outlook for the stock.
• The company has seen significant changes in institutional ownership, with hedge funds like CWM LLC increasing their holdings by 312.5% in the second quarter.
• The current stock price is $9.77, with a market capitalization of $195.69 million and a twelve month high of $14.31.

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

RE/MAX Stock Down 1.5%

RMAX stock opened at $9.77 on Friday. RE/MAX has a twelve month low of $6.90 and a twelve month high of $14.31. The stock has a market capitalization of $195.69 million, a price-to-earnings ratio of 20.79 and a beta of 1.17. The firm's fifty day simple moving average is $8.64 and its two-hundred day simple moving average is $8.24.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of RE/MAX by 312.5% in the second quarter. CWM LLC now owns 3,543 shares of the financial services provider's stock worth $29,000 after purchasing an additional 2,684 shares during the last quarter. Strs Ohio bought a new position in shares of RE/MAX in the first quarter worth about $30,000. Sei Investments Co. bought a new position in shares of RE/MAX in the second quarter worth about $86,000. State of Wyoming bought a new position in shares of RE/MAX in the fourth quarter worth about $91,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of RE/MAX in the second quarter worth about $110,000. 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.

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