RE/MAX Holdings, Inc. (NYSE:RMAX) Sees Significant Growth in Short Interest

RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 679,100 shares, a growth of 35.2% from the April 30th total of 502,400 shares. Based on an average daily trading volume of 194,800 shares, the short-interest ratio is currently 3.5 days. Approximately 3.7% of the company’s shares are short sold.

Several research firms recently commented on RMAX. StockNews.com assumed coverage on shares of RE/MAX in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley decreased their price target on shares of RE/MAX from $30.50 to $28.50 and set an “equal weight” rating for the company in a research report on Wednesday, March 9th. Jonestrading began coverage on shares of RE/MAX in a research report on Wednesday, March 2nd. They set a “buy” rating and a $38.00 price target for the company. Keefe, Bruyette & Woods decreased their price target on shares of RE/MAX from $37.00 to $35.00 in a research report on Monday, February 28th. Finally, Zacks Investment Research raised shares of RE/MAX from a “sell” rating to a “hold” rating in a research report on Saturday, April 30th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.90.

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RE/MAX stock traded up $0.06 during mid-day trading on Monday, reaching $24.56. The company’s stock had a trading volume of 11,270 shares, compared to its average volume of 173,503. The firm has a market cap of $473.17 million, a price-to-earnings ratio of -29.59 and a beta of 1.41. The business has a 50-day moving average price of $25.25 and a 200-day moving average price of $28.06. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 6.40. RE/MAX has a twelve month low of $21.48 and a twelve month high of $35.62.

RE/MAX (NYSE:RMAX – Get Rating) last posted its earnings results on Thursday, April 28th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.22. The company had revenue of $91.00 million for the quarter, compared to analysts’ expectations of $90.77 million. RE/MAX had a positive return on equity of 68.84% and a negative net margin of 4.42%. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share. On average, equities analysts expect that RE/MAX will post 1.77 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 25th. Shareholders of record on Wednesday, May 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Tuesday, May 10th. RE/MAX’s payout ratio is -110.84%.

A number of hedge funds have recently bought and sold shares of RMAX. Captrust Financial Advisors lifted its stake in RE/MAX by 115.0% in the first quarter. Captrust Financial Advisors now owns 1,017 shares of the financial services provider’s stock valued at $28,000 after buying an additional 544 shares during the last quarter. Lazard Asset Management LLC lifted its stake in RE/MAX by 76.0% in the fourth quarter. Lazard Asset Management LLC now owns 2,165 shares of the financial services provider’s stock valued at $66,000 after buying an additional 935 shares during the last quarter. Clearstead Advisors LLC bought a new stake in shares of RE/MAX during the first quarter valued at about $72,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of RE/MAX by 143.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,708 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Martingale Asset Management LP bought a new stake in shares of RE/MAX during the third quarter valued at about $209,000. Institutional investors own 94.37% of the company’s stock.

RE/MAX Company Profiles (Get Rating)

RE/MAX Holdings, Inc operates as a franchiser of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company operates through three segments: Real Estate, Mortgage, and Marketing Funds. It 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.

Further Reading

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