RE/MAX Holdings, Inc. (NYSE:RMAX) Short Interest Up 16.2% in February

RE/MAX Holdings, Inc. (NYSE:RMAX) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 497,400 shares, an increase of 16.2% from the February 13th total of 428,000 shares. Based on an average trading volume of 141,300 shares, the days-to-cover ratio is currently 3.5 days. Currently, 3.2% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of RE/MAX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Insider Transactions at RE/MAX

In other news, major shareholder Adam K. Peterson bought 11,798 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were bought at an average cost of $9.64 per share, with a total value of $113,732.72. Following the completion of the purchase, the insider now directly owns 3,247,929 shares in the company, valued at $31,310,035.56. This represents a 0.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders acquired 40,434 shares of company stock worth $410,729. 5.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RMAX. Capital World Investors increased its position in RE/MAX by 736.3% during the 4th quarter. Capital World Investors now owns 1,500,000 shares of the financial services provider’s stock valued at $16,005,000 after purchasing an additional 1,320,628 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of RE/MAX by 229.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 354,651 shares of the financial services provider’s stock valued at $4,415,000 after buying an additional 247,131 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of RE/MAX by 24.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 895,668 shares of the financial services provider’s stock valued at $9,557,000 after buying an additional 178,599 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of RE/MAX by 101.6% during the 4th quarter. Prudential Financial Inc. now owns 212,762 shares of the financial services provider’s stock valued at $2,270,000 after buying an additional 107,207 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of RE/MAX during the 4th quarter valued at $1,058,000. 93.17% of the stock is owned by hedge funds and other institutional investors.

RE/MAX Stock Performance

Shares of NYSE RMAX traded up $0.20 during mid-day trading on Thursday, hitting $9.36. The stock had a trading volume of 25,940 shares, compared to its average volume of 226,438. RE/MAX has a 1 year low of $6.94 and a 1 year high of $14.31. The business has a 50 day moving average price of $9.60 and a two-hundred day moving average price of $11.08. The firm has a market cap of $177.59 million, a P/E ratio of 26.72 and a beta of 1.32.

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

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.