RE/MAX Holdings, Inc. (NYSE:RMAX) Short Interest Down 13.7% in September

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

RE/MAX Price Performance

Shares of NYSE:RMAX opened at $12.42 on Monday. The stock’s 50-day moving average is $10.77 and its 200 day moving average is $9.10. 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 1 year low of $6.94 and a 1 year high of $14.53.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $78.45 million during the quarter, compared to the consensus estimate of $78.16 million. RE/MAX had a negative return on equity of 35.12% and a negative net margin of 22.26%. Analysts expect that RE/MAX will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On RE/MAX

A number of large investors have recently modified their holdings of RMAX. SG Americas Securities LLC lifted 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 buying an additional 1,469 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of RE/MAX by 15.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 12,222 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 1,644 shares during the period. Rhumbline Advisers boosted its position in shares of RE/MAX by 7.6% during the second quarter. Rhumbline Advisers now owns 29,174 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 2,054 shares in the last quarter. Algert Global LLC grew its stake 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 period. Finally, Empowered Funds LLC raised its holdings in RE/MAX by 7.9% in the first quarter. Empowered Funds LLC now owns 50,524 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 3,687 shares in the last quarter. Institutional investors own 93.17% of the company’s stock.

Wall Street Analyst Weigh In

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

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.