Stephens Boosts RE/MAX (NYSE:RMAX) Price Target to $10.50

RE/MAX (NYSE:RMAX) had its target price lifted by Stephens from $9.00 to $10.50 in a research report sent to investors on Monday morning, Benzinga reports. Stephens currently has an equal weight rating on the financial services provider’s stock.

RE/MAX Price Performance

Shares of RE/MAX stock opened at $9.83 on Monday. RE/MAX has a fifty-two week low of $6.94 and a fifty-two week high of $18.19. The firm has a market capitalization of $179.69 million, a P/E ratio of -2.49 and a beta of 1.37. The company’s 50 day moving average price is $8.73 and its two-hundred day moving average price is $8.58.

Insider Activity

In other RE/MAX news, major shareholder Adam K. Peterson purchased 26,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was purchased at an average price of $8.03 per share, with a total value of $208,780.00. Following the completion of the purchase, the insider now owns 3,150,152 shares of the company’s stock, valued at $25,295,720.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Abigail C. Lee sold 5,243 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $8.05, for a total transaction of $42,206.15. Following the completion of the transaction, the executive vice president now owns 83,986 shares of the company’s stock, valued at $676,087.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Adam K. Peterson bought 26,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were purchased at an average cost of $8.03 per share, with a total value of $208,780.00. Following the purchase, the insider now directly owns 3,150,152 shares of the company’s stock, valued at $25,295,720.56. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 100,309 shares of company stock valued at $824,351. Insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On RE/MAX

A number of hedge funds have recently bought and sold shares of RMAX. SG Americas Securities LLC raised its stake in RE/MAX by 22.8% during the fourth quarter. SG Americas Securities LLC now owns 11,523 shares of the financial services provider’s stock worth $154,000 after buying an additional 2,136 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in RE/MAX by 134.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,433 shares of the financial services provider’s stock worth $86,000 after buying an additional 3,693 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in RE/MAX during the fourth quarter worth $606,000. Russell Investments Group Ltd. bought a new position in RE/MAX during the fourth quarter worth $2,583,000. Finally, Magnolia Group LLC raised its stake in RE/MAX by 13.7% during the fourth quarter. Magnolia Group LLC now owns 2,983,843 shares of the financial services provider’s stock worth $39,775,000 after buying an additional 358,736 shares during the last quarter. Institutional investors own 93.17% of the company’s stock.

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.