RE/MAX (NYSE:RMAX) Shares Pass Below 200 Day Moving Average – Here’s What Happened

RE/MAX Holdings, Inc. (NYSE:RMAX) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.29 and traded as low as $8.97. RE/MAX shares last traded at $9.04, with a volume of 181,372 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of RE/MAX from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.17.

RE/MAX Stock Performance

The company has a 50 day moving average of $10.15 and a two-hundred day moving average of $11.29. The stock has a market capitalization of $167.05 million, a PE ratio of 25.27 and a beta of 1.37.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.10). The company had revenue of $72.47 million for 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%. As a group, research analysts predict that RE/MAX Holdings, Inc. will post 0.89 EPS for the current fiscal year.

Insiders Place Their Bets

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 stock was purchased at an average price of $9.64 per share, with a total value of $113,732.72. Following the completion of the acquisition, the insider now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders purchased 69,889 shares of company stock valued at $729,432. Insiders own 5.99% of the company’s stock.

Institutional Trading of RE/MAX

Hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its holdings in RE/MAX by 31.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,579 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,336 shares in the last quarter. State of Wyoming acquired a new position in shares of RE/MAX during the 4th quarter worth about $91,000. Quest Partners LLC purchased a new position in RE/MAX in the 3rd quarter valued at about $106,000. Martingale Asset Management L P acquired a new stake in RE/MAX in the 4th quarter worth about $110,000. Finally, Wells Fargo & Company MN increased its stake in RE/MAX by 27.5% during the 4th quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider’s stock worth $113,000 after buying an additional 2,286 shares in the last quarter. 93.17% of the stock is owned by hedge funds and other 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.