RE/MAX Holdings, Inc. (NYSE:RMAX) Short Interest Update

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at RE/MAX

In other RE/MAX news, major shareholder Adam K. Peterson acquired 26,000 shares of the stock in a transaction dated Monday, July 1st. The shares were purchased at an average price of $8.03 per share, for a total transaction of $208,780.00. Following the purchase, the insider now directly owns 3,150,152 shares of the company’s stock, valued at $25,295,720.56. The acquisition was disclosed in a filing with the SEC, which is available at this link. 5.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Magnolia Group LLC raised its position in shares of RE/MAX by 2.8% during the second quarter. Magnolia Group LLC now owns 3,124,152 shares of the financial services provider’s stock valued at $25,306,000 after buying an additional 86,309 shares during the last quarter. Vanguard Group Inc. grew its stake in RE/MAX by 9.2% during the first quarter. Vanguard Group Inc. now owns 1,121,789 shares of the financial services provider’s stock valued at $9,838,000 after acquiring an additional 94,758 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in RE/MAX by 46.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,057,780 shares of the financial services provider’s stock valued at $14,100,000 after acquiring an additional 334,290 shares in the last quarter. AQR Capital Management LLC increased its holdings in RE/MAX by 14.9% in the 2nd quarter. AQR Capital Management LLC now owns 516,953 shares of the financial services provider’s stock valued at $4,187,000 after acquiring an additional 66,960 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in RE/MAX by 107.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider’s stock worth $2,560,000 after purchasing an additional 151,036 shares in the last quarter. 93.17% of the stock is owned by hedge funds and other institutional investors.

RE/MAX Stock Performance

RMAX opened at $12.42 on Friday. The stock has a market cap of $234.24 million, a price-to-earnings ratio of -3.14 and a beta of 1.37. The firm’s fifty day moving average is $10.77 and its 200 day moving average is $9.09. RE/MAX has a fifty-two week low of $6.94 and a fifty-two week high of $14.53.

RE/MAX (NYSE:RMAX) last announced its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. The business had revenue of $78.45 million for 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%. On average, equities research analysts predict that RE/MAX will post 0.75 earnings per share 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.