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

RE/MAX Holdings, Inc. (NYSE:RMAX) was the target of a large increase in short interest in 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. Based on an average daily trading volume, of 151,000 shares, the short-interest ratio is currently 4.2 days. Approximately 4.0% of the company’s shares are sold short.

Insider Buying and Selling

In other RE/MAX news, major shareholder Adam K. Peterson bought 11,798 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was acquired at an average cost of $9.64 per share, with a total value of $113,732.72. Following the purchase, the insider now owns 3,247,929 shares in the company, valued at $31,310,035.56. This trade represents a 0.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On RE/MAX

Several hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. raised 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 worth $60,000 after acquiring 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 approximately $91,000. Martingale Asset Management L P bought a new stake in shares of RE/MAX during the 4th quarter worth approximately $110,000. Wells Fargo & Company MN boosted its holdings in shares of RE/MAX by 27.5% in the 4th quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider’s stock valued at $113,000 after buying an additional 2,286 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new position in shares of RE/MAX in the third quarter valued at $135,000. Institutional investors own 93.17% of the company’s stock.

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.

RE/MAX Stock Performance

NYSE RMAX opened at $8.39 on Tuesday. RE/MAX has a 52 week low of $6.94 and a 52 week high of $14.31. The stock’s 50 day moving average price is $9.45 and its two-hundred day moving average price is $10.96. The stock has a market capitalization of $159.17 million, a price-to-earnings ratio of 23.96 and a beta of 1.32.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, February 20th. The financial services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.10). The business had revenue of $72.47 million for the quarter, compared to analyst estimates 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 research analysts forecast that RE/MAX will post 0.89 EPS for the current year.

About RE/MAX

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.