RE/MAX’s (RMAX) “Sell (D+)” Rating Reiterated at Weiss Ratings

RE/MAX (NYSE:RMAX)‘s stock had its “sell (d+)” rating reiterated by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded shares of RE/MAX from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $9.00.

RE/MAX Price Performance

Shares of NYSE RMAX opened at $8.54 on Wednesday. The company has a 50 day simple moving average of $9.08 and a 200 day simple moving average of $8.33. The firm has a market cap of $171.06 million, a PE ratio of 18.17 and a beta of 1.17. RE/MAX has a 1 year low of $6.90 and a 1 year high of $14.31.

Insider Activity

In related news, Director Roger J. Dow sold 9,100 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $9.37, for a total transaction of $85,267.00. Following the transaction, the director directly owned 55,961 shares of the company’s stock, valued at $524,354.57. This represents a 13.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.80% of the stock is owned by insiders.

Institutional Trading of RE/MAX

Large investors have recently made changes to their positions in the company. Hillsdale Investment Management Inc. raised its stake in RE/MAX by 80.7% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 492,139 shares of the financial services provider’s stock worth $4,026,000 after buying an additional 219,859 shares during the period. Invenomic Capital Management LP acquired a new position in shares of RE/MAX during the first quarter worth approximately $1,468,000. Nuveen LLC acquired a new position in shares of RE/MAX during the first quarter worth approximately $1,342,000. Norges Bank bought a new stake in RE/MAX during the 2nd quarter valued at $677,000. Finally, JPMorgan Chase & Co. increased its stake in RE/MAX by 35.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 272,785 shares of the financial services provider’s stock valued at $2,231,000 after purchasing an additional 71,301 shares in 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.