RE/MAX Holdings, Inc. (NYSE:RMAX) Short Interest Up 27.4% in March

RE/MAX Holdings, Inc. (NYSE:RMAX) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 633,700 shares, an increase of 27.4% from the February 28th total of 497,400 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average daily volume of 151,000 shares, the short-interest ratio is presently 4.2 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded RE/MAX from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 27th.

Insider Buying and Selling at RE/MAX

In other RE/MAX news, major shareholder Adam K. Peterson acquired 15,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were acquired at an average cost of $10.30 per share, for a total transaction of $154,500.00. Following the completion of the purchase, the insider now owns 3,236,131 shares of the company’s stock, valued at approximately $33,332,149.30. This trade represents a 0.47 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.99% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Magnolia Group LLC increased its holdings in RE/MAX by 2.2% in the 4th quarter. Magnolia Group LLC now owns 3,221,131 shares of the financial services provider’s stock valued at $34,369,000 after buying an additional 70,457 shares during the period. Capital World Investors increased its stake in RE/MAX by 736.3% in the fourth quarter. Capital World Investors now owns 1,500,000 shares of the financial services provider’s stock valued at $16,005,000 after acquiring an additional 1,320,628 shares during the period. Dimensional Fund Advisors LP raised its position in RE/MAX by 24.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 895,668 shares of the financial services provider’s stock worth $9,557,000 after purchasing an additional 178,599 shares in the last quarter. Renaissance Technologies LLC lifted its stake in RE/MAX by 2.5% during the fourth quarter. Renaissance Technologies LLC now owns 808,369 shares of the financial services provider’s stock worth $8,625,000 after purchasing an additional 19,969 shares during the period. Finally, State Street Corp boosted its holdings in RE/MAX by 6.6% during the third quarter. State Street Corp now owns 435,652 shares of the financial services provider’s stock valued at $5,424,000 after purchasing an additional 27,131 shares in the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.

RE/MAX Stock Performance

Shares of NYSE:RMAX traded down $0.07 on Wednesday, hitting $8.36. 84,998 shares of the company were exchanged, compared to its average volume of 221,326. The company’s 50 day moving average price is $9.37 and its two-hundred day moving average price is $10.91. The firm has a market capitalization of $158.70 million, a price-to-earnings ratio of 23.89 and a beta of 1.32. RE/MAX has a one year low of $6.94 and a one year high of $14.31.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings results on Thursday, February 20th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.10). RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. The firm had revenue of $72.47 million for the quarter, compared to the consensus estimate of $74.34 million. Research analysts predict that RE/MAX will post 0.89 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.