RE/MAX Holdings, Inc. (NYSE:RMAX) Sees Large Increase in Short Interest

RE/MAX Holdings, Inc. (NYSE:RMAX) was the recipient of a significant increase in short interest in 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 daily volume of 141,300 shares, the days-to-cover ratio is currently 3.5 days. Currently, 3.2% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of RE/MAX from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 11th.

RE/MAX Stock Up 3.5 %

Shares of NYSE:RMAX traded up $0.31 during midday trading on Wednesday, hitting $9.12. 169,649 shares of the stock traded hands, compared to its average volume of 227,221. The stock has a market capitalization of $173.03 million, a PE ratio of 26.04 and a beta of 1.32. The business’s 50 day moving average is $9.60 and its two-hundred day moving average is $11.08. RE/MAX has a one year low of $6.94 and a one year high of $14.31.

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

Insider Transactions at RE/MAX

In related news, major shareholder Adam K. Peterson bought 11,798 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was bought at an average cost of $9.64 per share, for a total transaction of $113,732.72. Following the completion of the transaction, the insider now owns 3,247,929 shares of the company’s stock, valued at approximately $31,310,035.56. The trade was a 0.36 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have bought 40,434 shares of company stock valued at $410,729. 5.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RE/MAX

A number of institutional investors have recently bought and sold shares of the stock. Magnolia Group LLC raised its stake in RE/MAX by 2.2% in the fourth 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 in the last quarter. Capital World Investors raised its stake in RE/MAX by 736.3% in the fourth quarter. Capital World Investors now owns 1,500,000 shares of the financial services provider’s stock worth $16,005,000 after buying an additional 1,320,628 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of RE/MAX by 24.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 895,668 shares of the financial services provider’s stock valued at $9,557,000 after purchasing an additional 178,599 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of RE/MAX by 2.5% during the fourth quarter. Renaissance Technologies LLC now owns 808,369 shares of the financial services provider’s stock valued at $8,625,000 after purchasing an additional 19,969 shares in the last quarter. Finally, State Street Corp increased its stake in shares of RE/MAX by 6.6% during the third quarter. State Street Corp now owns 435,652 shares of the financial services provider’s stock valued at $5,424,000 after purchasing an additional 27,131 shares in the last quarter. 93.17% of the stock is owned by institutional investors.

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.