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

RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating) was the recipient of a significant growth in short interest in February. As of February 15th, there was short interest totaling 482,000 shares, a growth of 39.8% from the January 31st total of 344,900 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 134,400 shares, the short-interest ratio is currently 3.6 days.

RMAX has been the subject of several analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of RE/MAX from $37.00 to $35.00 in a research note on Monday, February 28th. Morgan Stanley dropped their price target on shares of RE/MAX from $33.50 to $30.50 and set an “equal weight” rating for the company in a research note on Thursday, December 9th. Jonestrading initiated coverage on shares of RE/MAX in a research note on Wednesday. They set a “buy” rating and a $38.00 price target for the company. Finally, Zacks Investment Research downgraded shares of RE/MAX from a “buy” rating to a “hold” rating in a research note on Friday.

NYSE RMAX traded down $0.29 during mid-day trading on Friday, reaching $28.74. 125,878 shares of the stock were exchanged, compared to its average volume of 128,225. RE/MAX has a one year low of $26.05 and a one year high of $42.88. The stock has a 50-day simple moving average of $29.93 and a 200-day simple moving average of $30.77. The stock has a market cap of $542.93 million, a P/E ratio of -33.81 and a beta of 1.43. The company has a debt-to-equity ratio of 6.48, a current ratio of 1.81 and a quick ratio of 1.79.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 16th. Investors of record on Friday, March 4th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Thursday, March 3rd. RE/MAX’s dividend payout ratio is currently -108.23%.

A number of hedge funds and other institutional investors have recently made changes to their positions in RMAX. Assenagon Asset Management SA bought a new position in RE/MAX during the fourth quarter worth $6,958,000. Balyasny Asset Management LLC bought a new stake in RE/MAX in the third quarter valued at $5,327,000. Hotchkis & Wiley Capital Management LLC increased its stake in RE/MAX by 203.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 207,210 shares of the financial services provider’s stock valued at $6,457,000 after purchasing an additional 139,020 shares in the last quarter. Aureus Asset Management LLC increased its stake in RE/MAX by 15.0% in the fourth quarter. Aureus Asset Management LLC now owns 714,757 shares of the financial services provider’s stock valued at $21,793,000 after purchasing an additional 93,035 shares in the last quarter. Finally, Morgan Stanley increased its stake in RE/MAX by 63.9% in the third quarter. Morgan Stanley now owns 231,505 shares of the financial services provider’s stock valued at $7,214,000 after purchasing an additional 90,261 shares in the last quarter. 94.38% of the stock is owned by institutional investors and hedge funds.

About RE/MAX (Get Rating)

RE/MAX Holdings, Inc engages in the provision of real estate franchise services through its subsidiaries. It operates through the following segments: Real Estate, Mortgage, Marketing Funds, and Other. The Real Estate segment is comprised of the Company’s owned and independent global franchising operations under the RE/MAX brand name and technology and data subscription for Gadberry and the First app.

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