RE/MAX (NYSE:RMAX) Raised to Buy 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 stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

RE/MAX Trading Up 3.3%

Shares of NYSE:RMAX traded up $0.33 during trading on Friday, hitting $10.23. 212,366 shares of the company were exchanged, compared to its average volume of 197,578. The stock has a market cap of $204.91 million, a price-to-earnings ratio of 21.77 and a beta of 1.17. RE/MAX has a fifty-two week low of $6.90 and a fifty-two week high of $14.31. The firm has a fifty day moving average price of $8.79 and a two-hundred day moving average price of $8.27.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nuveen LLC acquired a new position in shares of RE/MAX during the 1st quarter worth approximately $1,342,000. Martingale Asset Management L P increased its holdings in shares of RE/MAX by 351.7% during the 1st quarter. Martingale Asset Management L P now owns 46,714 shares of the financial services provider's stock worth $391,000 after acquiring an additional 36,373 shares during the last quarter. Invenomic Capital Management LP acquired a new position in shares of RE/MAX during the 1st quarter worth approximately $1,468,000. GAMMA Investing LLC increased its holdings in shares of RE/MAX by 913.8% during the 1st quarter. GAMMA Investing LLC now owns 15,978 shares of the financial services provider's stock worth $134,000 after acquiring an additional 14,402 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of RE/MAX by 19.3% during the 4th quarter. Two Sigma Advisers LP now owns 17,300 shares of the financial services provider's stock worth $185,000 after acquiring an additional 2,800 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.