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

RE/MAX Holdings, Inc. (NYSE:RMAX) saw a large 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. Approximately 3.2% of the company’s stock are sold short. Based on an average daily trading volume, of 141,300 shares, the short-interest ratio is presently 3.5 days.

Insider Activity

In related news, major shareholder Adam K. Peterson purchased 13,636 shares of the business’s stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $10.45 per share, for a total transaction of $142,496.20. Following the purchase, the insider now owns 3,221,131 shares of the company’s stock, valued at approximately $33,660,818.95. This trade represents a 0.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 40,434 shares of company stock worth $410,729 in the last three months. Company insiders own 5.99% of the company’s stock.

Institutional Investors Weigh In On RE/MAX

A number of hedge funds and other institutional investors have recently bought and sold shares of RMAX. Metis Global Partners LLC bought a new stake in RE/MAX during the 3rd quarter valued at $156,000. Empowered Funds LLC raised its holdings in RE/MAX by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 57,118 shares of the financial services provider’s stock valued at $711,000 after acquiring an additional 2,814 shares during the period. Quest Partners LLC bought a new stake in RE/MAX during the 3rd quarter valued at $106,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of RE/MAX by 229.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 354,651 shares of the financial services provider’s stock worth $4,415,000 after purchasing an additional 247,131 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of RE/MAX in the third quarter worth $193,000. Institutional investors own 93.17% of the company’s stock.

Analyst Ratings Changes

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

RE/MAX Price Performance

Shares of NYSE RMAX traded up $0.31 during midday trading on Wednesday, reaching $9.12. The company’s stock had a trading volume of 169,649 shares, compared to its average volume of 227,221. The stock has a market capitalization of $173.03 million, a P/E ratio of 26.04 and a beta of 1.32. The firm has a 50 day moving average price of $9.60 and a 200-day moving average price of $11.08. RE/MAX has a 12-month low of $6.94 and a 12-month high of $14.31.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings results on Thursday, February 20th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). The company had revenue of $72.47 million during the quarter, compared to the consensus estimate of $74.34 million. RE/MAX had a negative return on equity of 38.69% and a net margin of 2.32%. On average, equities analysts predict that RE/MAX will post 0.89 EPS for the current 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.