RE/MAX (NYSE:RMAX) Shares Cross Below 200 Day Moving Average of $26.48

RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.48 and traded as low as $24.28. RE/MAX shares last traded at $24.86, with a volume of 77,184 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on RE/MAX in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

RE/MAX Stock Up 1.5%

The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 6.40. The company has a fifty-day moving average price of $24.00 and a 200-day moving average price of $26.48. The stock has a market capitalization of $478.95 million, a P/E ratio of -29.95 and a beta of 1.31.

RE/MAX (NYSE:RMAX – Get Rating) last announced its earnings results on Thursday, April 28th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The firm had revenue of $91.00 million for the quarter, compared to analysts’ expectations of $90.77 million. RE/MAX had a negative net margin of 4.42% and a positive return on equity of 68.84%. The business’s revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. As a group, research analysts forecast that RE/MAX Holdings, Inc. will post 1.86 EPS for the current fiscal year.

Insiders Activity

In other RE/MAX news, major shareholder Adam K. Peterson bought 40,239 shares of the firm’s stock in a transaction dated Thursday, June 16th. The shares were purchased at an average cost of $21.94 per share, for a total transaction of $882,843.66. Following the transaction, the insider now owns 2,008,492 shares of the company’s stock, valued at $44,066,314.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other RE/MAX news, major shareholder Adam K. Peterson bought 22,515 shares of the business’s stock in a transaction dated Tuesday, June 28th. The shares were purchased at an average price of $23.90 per share, with a total value of $538,108.50. Following the completion of the purchase, the insider now owns 2,064,109 shares in the company, valued at approximately $49,332,205.10. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Adam K. Peterson purchased 40,239 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were acquired at an average cost of $21.94 per share, with a total value of $882,843.66. Following the completion of the purchase, the insider now directly owns 2,008,492 shares in the company, valued at approximately $44,066,314.48. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 123,885 shares of company stock worth $2,887,325. 3.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RE/MAX

A number of large investors have recently bought and sold shares of RMAX. Magnolia Group LLC boosted its holdings in RE/MAX by 147.2% during the 2nd quarter. Magnolia Group LLC now owns 2,088,609 shares of the financial services provider’s stock valued at $51,213,000 after acquiring an additional 1,243,727 shares during the period. Assenagon Asset Management SA purchased a new position in RE/MAX during the 4th quarter valued at $6,958,000. Aureus Asset Management LLC boosted its holdings in RE/MAX by 16.2% during the 1st quarter. Aureus Asset Management LLC now owns 830,829 shares of the financial services provider’s stock valued at $23,039,000 after acquiring an additional 116,072 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in RE/MAX during the 1st quarter valued at $2,249,000. Finally, Russell Investments Group Ltd. purchased a new position in RE/MAX during the 1st quarter valued at $1,566,000. Hedge funds and other institutional investors own 94.37% of the company’s stock.

About RE/MAX

(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.

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