Zacks Investment Research downgraded shares of RE/MAX (NYSE:RMAX) from a buy rating to a hold rating in a report released on Thursday.
According to Zacks, “Re/Max Holdings, Inc. is a franchisor of real estate brokerage services. Re/Max Holdings, Inc. is based in Denver, CO. “
A number of other equities analysts also recently issued reports on RMAX. BidaskClub downgraded RE/MAX from a buy rating to a hold rating in a research report on Friday, September 8th. Piper Jaffray Companies started coverage on RE/MAX in a research report on Thursday, September 28th. They set an overweight rating and a $69.00 price objective for the company. JPMorgan Chase & Co. downgraded RE/MAX from a neutral rating to an underweight rating and set a $51.00 price objective for the company. in a research report on Friday, December 15th. Finally, Compass Point upgraded RE/MAX from a sell rating to a neutral rating in a research report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $61.43.
A number of hedge funds have recently modified their holdings of RMAX. Victory Capital Management Inc. increased its holdings in RE/MAX by 17.5% in the second quarter. Victory Capital Management Inc. now owns 3,150 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 470 shares in the last quarter. Sei Investments Co. increased its holdings in RE/MAX by 36.3% in the second quarter. Sei Investments Co. now owns 3,410 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 909 shares in the last quarter. PEAK6 Investments L.P. increased its holdings in RE/MAX by 66.5% in the third quarter. PEAK6 Investments L.P. now owns 3,320 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 1,326 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in RE/MAX in the second quarter worth approximately $215,000. Finally, Crossmark Global Holdings Inc. bought a new stake in RE/MAX in the third quarter worth approximately $234,000.
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RE/MAX Holdings, Inc is a franchisor in the real estate industry, franchising real estate brokerages around the world under the RE/MAX brand and mortgage brokerages within the United States under the Motto Mortgage brand. The Company is a franchised business, with all of the RE/MAX branded brokerage office locations being operated by franchisees, including RE/MAX, LLC, which owns the RE/MAX brand, and sells franchises and franchising rights; Independent Regional Franchise Owner, which owns rights to sell brokerage franchises in a specified region; Franchisee (or Broker-Owner), which operates a RE/MAX-branded brokerage office, lists properties and recruits agents, and Agent (or Sales Associate), including branded independent contractors operating out of local franchise brokerage offices.
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