RE/MAX (NYSE:RMAX) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

RE/MAX Holdings, Inc. (NYSE:RMAX)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.26 and traded as low as $8.16. RE/MAX shares last traded at $8.41, with a volume of 192,360 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded RE/MAX from a “hold” rating to a “buy” rating in a report on Thursday, November 28th.

RE/MAX Trading Down 2.5 %

The stock has a market cap of $159.59 million, a price-to-earnings ratio of 24.02 and a beta of 1.32. The firm’s 50 day moving average is $9.89 and its two-hundred day moving average is $11.24.

RE/MAX (NYSE:RMAX) last issued 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 firm had revenue of $72.47 million for the quarter, compared to analysts’ expectations of $74.34 million. RE/MAX had a negative return on equity of 38.69% and a net margin of 2.32%. As a group, equities analysts expect that RE/MAX Holdings, Inc. will post 0.89 EPS for the current fiscal year.

Insider Buying and Selling at RE/MAX

In other RE/MAX news, major shareholder Adam K. Peterson purchased 29,455 shares of the stock in a transaction on Wednesday, December 18th. The stock was bought at an average price of $10.82 per share, for a total transaction of $318,703.10. Following the acquisition, the insider now directly owns 3,207,495 shares of the company’s stock, valued at $34,705,095.90. This represents a 0.93 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders acquired 69,889 shares of company stock worth $729,432. Insiders own 5.99% of the company’s stock.

Institutional Investors Weigh In On RE/MAX

Hedge funds have recently modified their holdings of the stock. Capital World Investors raised its stake in RE/MAX by 736.3% during the fourth quarter. Capital World Investors now owns 1,500,000 shares of the financial services provider’s stock worth $16,005,000 after purchasing an additional 1,320,628 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of RE/MAX by 229.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 354,651 shares of the financial services provider’s stock worth $4,415,000 after buying an additional 247,131 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of RE/MAX by 24.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 895,668 shares of the financial services provider’s stock worth $9,557,000 after buying an additional 178,599 shares during the period. Prudential Financial Inc. boosted its holdings in RE/MAX by 101.6% in the fourth quarter. Prudential Financial Inc. now owns 212,762 shares of the financial services provider’s stock valued at $2,270,000 after acquiring an additional 107,207 shares during the last quarter. Finally, Norges Bank purchased a new stake in RE/MAX during the fourth quarter valued at about $1,058,000. 93.17% of the stock is owned by institutional investors and hedge funds.

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.