Real REMAX Group (NASDAQ:REAX) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Real REMAX Group (NASDAQ:REAX) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also weighed in on REAX. Zacks Research upgraded Real REMAX Group from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Compass Point set a $40.00 target price on Real REMAX Group in a research note on Wednesday, October 14th. Citizens Jmp began coverage on Real REMAX Group in a report on Wednesday, October 14th. They set a “market outperform” rating and a $40.00 target price for the company. Citigroup started coverage on Real REMAX Group in a research note on Wednesday, October 14th. They issued a “market outperform” rating for the company. Finally, JonesTrading cut their price target on shares of Real REMAX Group from $40.00 to $25.75 and set a “buy” rating on the stock in a report on Thursday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.62.

Real REMAX Group Trading Down 1.5%

Shares of NASDAQ:REAX opened at $12.47 on Friday. The company has a market cap of $271.72 million, a price-to-earnings ratio of -4.23 and a beta of 0.83. The company has a 50-day moving average price of $16.48 and a 200-day moving average price of $21.41. Real REMAX Group has a 12 month low of $12.00 and a 12 month high of $45.00.

Insider Buying and Selling

In other Real REMAX Group news, major shareholder David L. Liniger sold 52,876 shares of Real REMAX Group stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $19.12, for a total transaction of $1,010,989.12. Following the sale, the insider directly owned 5,539,905 shares of the company’s stock, valued at approximately $105,922,983.60. The trade was a 0.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 38.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Real REMAX Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REAX. Allworth Financial LP lifted its holdings in shares of Real REMAX Group by 121.8% during the third quarter. Allworth Financial LP now owns 5,305 shares of the company’s stock valued at $87,000 after purchasing an additional 2,913 shares during the last quarter. Engineers Gate Manager LP boosted its position in shares of Real REMAX Group by 29.3% in the 2nd quarter. Engineers Gate Manager LP now owns 15,595 shares of the company’s stock worth $154,000 after purchasing an additional 3,530 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Real REMAX Group by 187.3% in the 2nd quarter. Squarepoint Ops LLC now owns 629,469 shares of the company’s stock worth $1,146,000 after buying an additional 410,364 shares during the last quarter. Corient Private Wealth LP purchased a new stake in shares of Real REMAX Group in the 2nd quarter worth approximately $100,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Real REMAX Group in the 2nd quarter worth approximately $680,000. 53.28% of the stock is owned by hedge funds and other institutional investors.

Real REMAX Group Company Profile

Real Brokerage Inc is a technology-powered residential real estate brokerage serving real estate agents and their clients in the United States and Canada. The company operates through a cloud-based model that enables agents to manage their businesses remotely while providing brokerage services for home buyers and sellers.

Real’s platform is designed to support key aspects of the real estate transaction process, including lead management, transaction coordination, document management, communication and collaboration.