RE/MAX (NYSE:RMAX) Stock Crosses Below 200 Day Moving Average of $27.01

RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.01 and traded as low as $24.82. RE/MAX shares last traded at $25.22, with a volume of 55,330 shares changing hands.

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

The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 6.40. The stock has a market capitalization of $485.99 million, a PE ratio of -30.39 and a beta of 1.31. The firm’s 50-day simple moving average is $23.70 and its two-hundred day simple moving average is $27.01.

RE/MAX (NYSE:RMAX – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. RE/MAX had a negative net margin of 4.42% and a positive return on equity of 68.84%. The firm had revenue of $91.00 million for the quarter, compared to analysts’ expectations of $90.77 million. During the same period in the previous year, the company posted $0.18 EPS. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, research analysts expect that RE/MAX Holdings, Inc. will post 1.89 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 25th. Stockholders of record on Wednesday, May 11th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Tuesday, May 10th. RE/MAX’s dividend payout ratio is currently -110.84%.

In related news, major shareholder Adam K. Peterson purchased 24,500 shares of the stock in a transaction dated Thursday, June 30th. The shares were acquired at an average cost of $24.26 per share, for a total transaction of $594,370.00. Following the acquisition, the insider now directly owns 2,088,609 shares in the company, valued at approximately $50,669,654.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Adam K. Peterson acquired 40,239 shares of RE/MAX stock in a transaction that occurred on Thursday, June 16th. The stock was acquired at an average cost of $21.94 per share, with a total value of $882,843.66. Following the purchase, the insider now owns 2,008,492 shares in the company, valued at approximately $44,066,314.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 91,689 shares of company stock worth $2,120,077. 2.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Farmer Steven Patrick bought a new stake in RE/MAX in the second quarter valued at about $14,621,000. Advisory Services Network LLC lifted its holdings in RE/MAX by 6.7% in the first quarter. Advisory Services Network LLC now owns 16,590 shares of the financial services provider’s stock valued at $460,000 after buying an additional 1,049 shares during the period. Mirabella Financial Services LLP acquired a new position in RE/MAX in the first quarter valued at approximately $459,000. Jane Street Group LLC lifted its holdings in RE/MAX by 51.1% in the first quarter. Jane Street Group LLC now owns 24,492 shares of the financial services provider’s stock valued at $679,000 after buying an additional 8,288 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in RE/MAX by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 31,137 shares of the financial services provider’s stock worth $863,000 after purchasing an additional 3,648 shares during the period. 94.37% of the stock is owned by institutional investors and hedge funds.

About RE/MAX (NYSE:RMAX)

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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