Jacobs Levy Equity Management Inc. Reduces Stock Position in RE/MAX Holdings, Inc. (NYSE:RMAX)

Jacobs Levy Equity Management Inc. decreased its position in RE/MAX Holdings, Inc. (NYSE:RMAX) by 13.6% during the third quarter, Holdings Channel.com reports. The fund owned 300,667 shares of the financial services provider’s stock after selling 47,211 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in RE/MAX were worth $3,743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC increased its holdings in RE/MAX by 566.7% during the 3rd quarter. nVerses Capital LLC now owns 2,000 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,700 shares during the period. Rhumbline Advisers grew its position in shares of RE/MAX by 7.6% in the 2nd quarter. Rhumbline Advisers now owns 29,174 shares of the financial services provider’s stock worth $236,000 after buying an additional 2,054 shares during the last quarter. Empowered Funds LLC increased its stake in shares of RE/MAX by 5.2% during the third quarter. Empowered Funds LLC now owns 57,118 shares of the financial services provider’s stock valued at $711,000 after buying an additional 2,814 shares during the period. Algert Global LLC raised its holdings in shares of RE/MAX by 21.3% during the second quarter. Algert Global LLC now owns 18,287 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 3,217 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in RE/MAX by 19,729.6% in the second quarter. Nisa Investment Advisors LLC now owns 5,354 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 5,327 shares during the period. 93.17% of the stock is owned by institutional investors.

RE/MAX Trading Down 3.0 %

RMAX opened at $12.50 on Friday. The company has a market cap of $235.88 million, a price-to-earnings ratio of -23.15 and a beta of 1.34. The stock has a fifty day simple moving average of $12.22 and a two-hundred day simple moving average of $10.55. RE/MAX Holdings, Inc. has a 12-month low of $6.94 and a 12-month high of $14.31.

Insider Buying and Selling

In other RE/MAX news, major shareholder Adam K. Peterson acquired 27,366 shares of the business’s stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $10.96 per share, for a total transaction of $299,931.36. Following the completion of the acquisition, the insider now owns 3,178,040 shares in the company, valued at $34,831,318.40. This trade represents a 0.87 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.99% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on RMAX. StockNews.com upgraded shares of RE/MAX from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Stephens increased their price target on shares of RE/MAX from $9.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, RE/MAX presently has a consensus rating of “Hold” and a consensus target price of $10.38.

RE/MAX 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.