Short Interest in RE/MAX Holdings, Inc. (NYSE:RMAX) Expands By 16.2%

RE/MAX Holdings, Inc. (NYSE:RMAX) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 497,400 shares, a growth of 16.2% from the February 13th total of 428,000 shares. Approximately 3.2% of the shares of the company are sold short. Based on an average trading volume of 141,300 shares, the short-interest ratio is presently 3.5 days.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered RE/MAX from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Insider Buying and Selling

In other news, major shareholder Adam K. Peterson acquired 11,798 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was bought at an average price of $9.64 per share, with a total value of $113,732.72. Following the completion of the acquisition, the insider now directly owns 3,247,929 shares of the company’s stock, valued at approximately $31,310,035.56. The trade was a 0.36 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 40,434 shares of company stock valued at $410,729 over the last 90 days. Company insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On RE/MAX

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in RE/MAX by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 151,779 shares of the financial services provider’s stock valued at $1,619,000 after purchasing an additional 1,092 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in RE/MAX by 4.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,887 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 1,154 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of RE/MAX by 31.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,579 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 1,336 shares in the last quarter. Northern Trust Corp lifted its position in shares of RE/MAX by 1.0% in the fourth quarter. Northern Trust Corp now owns 164,217 shares of the financial services provider’s stock valued at $1,752,000 after acquiring an additional 1,572 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of RE/MAX by 6.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 26,178 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 1,662 shares in the last quarter. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

RE/MAX Price Performance

Shares of RMAX opened at $9.18 on Friday. The firm has a market capitalization of $174.24 million, a P/E ratio of 26.23 and a beta of 1.32. The business has a fifty day moving average of $9.58 and a 200 day moving average of $11.07. RE/MAX has a one year low of $6.94 and a one year high of $14.31.

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