RE/MAX Holdings, Inc. (NYSE:RMAX) Short Interest Update

RE/MAX Holdings, Inc. (NYSE:RMAX) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 633,700 shares, an increase of 27.4% from the February 28th total of 497,400 shares. Based on an average daily volume of 151,000 shares, the short-interest ratio is presently 4.2 days. Currently, 4.0% of the company’s stock are short sold.

Insider Buying and Selling at RE/MAX

In related news, major shareholder Adam K. Peterson purchased 11,798 shares of RE/MAX stock in a transaction dated Friday, January 10th. The stock was purchased at an average cost of $9.64 per share, for a total transaction of $113,732.72. Following the completion of the purchase, the insider now directly owns 3,247,929 shares of the company’s stock, valued at $31,310,035.56. The trade was a 0.36 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 5.99% of the company’s stock.

Institutional Trading of RE/MAX

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of RE/MAX by 145.2% during the third quarter. JPMorgan Chase & Co. now owns 120,247 shares of the financial services provider’s stock worth $1,497,000 after acquiring an additional 71,215 shares during the period. BNP Paribas Financial Markets raised its position in RE/MAX by 23.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 54,101 shares of the financial services provider’s stock valued at $674,000 after purchasing an additional 10,207 shares in the last quarter. Magnolia Group LLC lifted its holdings in shares of RE/MAX by 2.2% in the 4th quarter. Magnolia Group LLC now owns 3,221,131 shares of the financial services provider’s stock worth $34,369,000 after buying an additional 70,457 shares during the period. Barclays PLC lifted its holdings in shares of RE/MAX by 248.3% in the 3rd quarter. Barclays PLC now owns 25,933 shares of the financial services provider’s stock worth $323,000 after buying an additional 18,488 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of RE/MAX by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 415,791 shares of the financial services provider’s stock worth $5,178,000 after buying an additional 7,688 shares in the last quarter. Institutional investors own 93.17% of the company’s stock.

RE/MAX Stock Performance

RMAX opened at $8.36 on Thursday. The stock has a market capitalization of $158.70 million, a price-to-earnings ratio of 23.89 and a beta of 1.32. The company has a fifty day moving average of $9.37 and a 200 day moving average of $10.91. RE/MAX has a fifty-two week low of $6.94 and a fifty-two week high of $14.31.

RE/MAX (NYSE:RMAX) last posted its earnings results on Thursday, February 20th. The financial services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. The business had revenue of $72.47 million during the quarter, compared to analysts’ expectations of $74.34 million. On average, equities research analysts forecast that RE/MAX will post 0.89 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised RE/MAX from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 27th.

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.