Short Interest in RE/MAX Holdings, Inc. (NYSE:RMAX) Expands By 27.4%

by · The Markets Daily

RE/MAX Holdings, Inc. (NYSE:RMAX – Get Free Report) was the recipient of a significant 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. Approximately 4.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 151,000 shares, the days-to-cover ratio is presently 4.2 days.

Analyst Ratings Changes

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

Check Out Our Latest Report on RE/MAX

Insiders Place Their Bets

In related news, major shareholder Adam K. Peterson purchased 11,798 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were purchased at an average price of $9.64 per share, with a total value of $113,732.72. Following the purchase, the insider now owns 3,247,929 shares of the company’s stock, valued at $31,310,035.56. This trade represents a 0.36 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 5.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its holdings in RE/MAX by 31.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,579 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,336 shares during the last quarter. State of Wyoming acquired a new position in shares of RE/MAX during the 4th quarter worth $91,000. Martingale Asset Management L P bought a new position in shares of RE/MAX during the 4th quarter valued at $110,000. Wells Fargo & Company MN boosted its holdings in RE/MAX by 27.5% in the fourth quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 2,286 shares in the last quarter. Finally, AlphaQuest LLC increased its position in RE/MAX by 39.2% during the fourth quarter. AlphaQuest LLC now owns 11,829 shares of the financial services provider’s stock worth $126,000 after buying an additional 3,329 shares during the last quarter. 93.17% of the stock is owned by institutional investors and hedge funds.

RE/MAX Trading Down 0.8 %

NYSE:RMAX traded down $0.07 on Wednesday, hitting $8.36. 84,998 shares of the company’s stock traded hands, compared to its average volume of 221,326. The company has a market cap of $158.70 million, a PE ratio of 23.89 and a beta of 1.32. RE/MAX has a 1 year low of $6.94 and a 1 year high of $14.31. The firm has a 50-day moving average price of $9.37 and a 200-day moving average price of $10.91.

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

About RE/MAX

(Get Free Report)

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.

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