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

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

Analysts Set New Price Targets

Separately, StockNews.com cut shares of RE/MAX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Insider Activity

In other news, major shareholder Adam K. Peterson purchased 13,636 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $10.45 per share, for a total transaction of $142,496.20. Following the purchase, the insider now directly owns 3,221,131 shares in the company, valued at approximately $33,660,818.95. This trade represents a 0.43 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have acquired 40,434 shares of company stock worth $410,729. Corporate insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On RE/MAX

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in RE/MAX by 145.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 120,247 shares of the financial services provider’s stock valued at $1,497,000 after acquiring an additional 71,215 shares during the period. BNP Paribas Financial Markets lifted its stake in RE/MAX by 23.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 54,101 shares of the financial services provider’s stock valued at $674,000 after acquiring an additional 10,207 shares during the period. Magnolia Group LLC lifted its stake in RE/MAX by 2.2% during 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 acquiring an additional 70,457 shares during the period. Barclays PLC lifted its stake in RE/MAX by 248.3% during the 3rd quarter. Barclays PLC now owns 25,933 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 18,488 shares during the period. Finally, Geode Capital Management LLC lifted its stake in RE/MAX by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 415,791 shares of the financial services provider’s stock valued at $5,178,000 after acquiring an additional 7,688 shares during the period. Institutional investors own 93.17% of the company’s stock.

RE/MAX Price Performance

RE/MAX stock traded up $0.20 during mid-day trading on Thursday, reaching $9.36. The stock had a trading volume of 25,940 shares, compared to its average volume of 226,438. The company has a market capitalization of $177.59 million, a price-to-earnings ratio of 26.72 and a beta of 1.32. The company has a 50-day moving average price of $9.60 and a two-hundred day moving average price of $11.08. RE/MAX has a one year low of $6.94 and a one year high of $14.31.

RE/MAX (NYSE:RMAX) last posted its 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). The company had revenue of $72.47 million for the quarter, compared to the consensus estimate of $74.34 million. RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. On average, equities research analysts anticipate that RE/MAX will post 0.89 earnings per share for the current fiscal year.

RE/MAX Company Profile

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.