RE/MAX (NYSE:RMAX) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

RE/MAX Holdings, Inc. (NYSE:RMAX)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $9.94 and traded as high as $10.10. RE/MAX shares last traded at $9.2910, with a volume of 364,846 shares traded.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RMAX. JonesTrading raised shares of RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 target price on the stock in a report on Monday, April 27th. Weiss Ratings reissued a “sell (d)” rating on shares of RE/MAX in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.80.

RE/MAX Price Performance

The stock has a 50 day moving average of $9.94 and a two-hundred day moving average of $8.19. The stock has a market capitalization of $198.78 million, a PE ratio of 936.30 and a beta of 1.82.

RE/MAX (NYSE:RMAX) last released its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.06). The business had revenue of $53.36 million during the quarter, compared to analysts’ expectations of $73.21 million. RE/MAX had a negative return on equity of 90.29% and a net margin of 0.13%.

Insiders Place Their Bets

In other news, insider Adam K. Peterson sold 216,281 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $11.10, for a total value of $2,400,719.10. Following the completion of the transaction, the insider owned 982,440 shares in the company, valued at $10,905,084. This trade represents a 18.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 1,341,378 shares of company stock valued at $14,028,770 over the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On RE/MAX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in shares of RE/MAX by 95.5% in the third quarter. JPMorgan Chase & Co. now owns 533,201 shares of the financial services provider’s stock valued at $5,028,000 after purchasing an additional 260,416 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in RE/MAX by 166.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 398,707 shares of the financial services provider’s stock valued at $3,760,000 after buying an additional 249,188 shares during the last quarter. Seven Six Capital Management LLC purchased a new position in RE/MAX during the first quarter worth $1,290,000. Jane Street Group LLC raised its holdings in shares of RE/MAX by 209.6% in the fourth quarter. Jane Street Group LLC now owns 234,829 shares of the financial services provider’s stock worth $1,782,000 after acquiring an additional 158,986 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of RE/MAX in the first quarter worth $861,000. Institutional investors and hedge funds own 93.17% of the company’s stock.

RE/MAX Company Profile

RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.

Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.