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

RE/MAX Holdings, Inc. (NYSE:RMAX) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totalling 637,300 shares, a decrease of 13.7% from the August 31st total of 738,100 shares. Based on an average daily volume of 251,500 shares, the short-interest ratio is currently 2.5 days. Approximately 3.8% of the shares of the company are sold short.

Insider Transactions at RE/MAX

In related news, major shareholder Adam K. Peterson acquired 26,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 3,150,152 shares in the company, valued at $25,295,720.56. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.99% of the stock is currently owned by company insiders.

Institutional Trading of RE/MAX

A number of hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its position in shares of RE/MAX by 19,729.6% during the second quarter. Nisa Investment Advisors LLC now owns 5,354 shares of the financial services provider’s stock valued at $43,000 after buying an additional 5,327 shares during the last quarter. Patron Partners LLC purchased a new stake in RE/MAX during the first quarter valued at approximately $93,000. Pinnacle Wealth Planning Services Inc. boosted its stake in RE/MAX by 15.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 12,222 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 1,644 shares in the last quarter. SG Americas Securities LLC grew its holdings in RE/MAX by 12.7% in the first quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 1,469 shares during the last quarter. Finally, Algert Global LLC grew its holdings in RE/MAX by 21.3% in the second quarter. Algert Global LLC now owns 18,287 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 3,217 shares during the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

RE/MAX Stock Down 3.3 %

Shares of RMAX opened at $12.42 on Friday. The company has a market cap of $234.24 million, a PE ratio of -3.14 and a beta of 1.37. RE/MAX has a 52-week low of $6.94 and a 52-week high of $14.53. The business has a fifty day moving average of $10.77 and a 200 day moving average of $9.10.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The company had revenue of $78.45 million for the quarter, compared to the consensus estimate of $78.16 million. RE/MAX had a negative net margin of 22.26% and a negative return on equity of 35.12%. As a group, research analysts anticipate that RE/MAX will post 0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stephens increased their price target on RE/MAX from $9.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. StockNews.com upgraded RE/MAX from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.90.

About RE/MAX

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.