RE/MAX (NYSE:RMAX) Stock Price Passes Below 200-Day Moving Average of $9.54

Shares of RE/MAX Holdings, Inc. (NYSE:RMAX) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.54 and traded as low as $8.73. RE/MAX shares last traded at $8.81, with a volume of 322,893 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Jonestrading reiterated a “hold” rating on shares of RE/MAX in a research report on Friday, March 1st. Morgan Stanley dropped their price objective on shares of RE/MAX from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, April 10th. StockNews.com cut shares of RE/MAX from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Keefe, Bruyette & Woods lowered their target price on shares of RE/MAX from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, February 28th. Finally, Stephens lowered their target price on shares of RE/MAX from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.60.

RE/MAX Trading Down 5.5 %

The company’s 50 day moving average price is $8.05 and its 200-day moving average price is $9.54. The company has a market capitalization of $160.96 million, a PE ratio of -2.23 and a beta of 1.42.

RE/MAX (NYSE:RMAX) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $76.60 million for the quarter, compared to analyst estimates of $77.19 million. RE/MAX had a negative net margin of 22.51% and a negative return on equity of 50.09%. As a group, analysts predict that RE/MAX Holdings, Inc. will post 0.75 earnings per share for the current year.

Insiders Place Their Bets

In other RE/MAX news, CAO Leah R. Jenkins sold 3,682 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $9.76, for a total value of $35,936.32. Following the transaction, the chief accounting officer now owns 25,333 shares in the company, valued at approximately $247,250.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Leah R. Jenkins sold 3,682 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $9.76, for a total value of $35,936.32. Following the sale, the chief accounting officer now owns 25,333 shares in the company, valued at approximately $247,250.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Abigail C. Lee sold 4,500 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $8.51, for a total transaction of $38,295.00. Following the sale, the executive vice president now directly owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The disclosure for this sale can be found here. 5.99% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RE/MAX

A number of institutional investors have recently modified their holdings of RMAX. Allspring Global Investments Holdings LLC acquired a new stake in shares of RE/MAX in the 3rd quarter worth approximately $35,000. Assenagon Asset Management S.A. acquired a new stake in shares of RE/MAX in the 3rd quarter worth approximately $5,792,000. Jump Financial LLC acquired a new stake in shares of RE/MAX in the 3rd quarter worth approximately $579,000. Barclays PLC lifted its stake in shares of RE/MAX by 326.8% in the 3rd quarter. Barclays PLC now owns 41,609 shares of the financial services provider’s stock worth $538,000 after acquiring an additional 31,859 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of RE/MAX in the 3rd quarter worth approximately $200,000. Institutional investors own 93.17% of the company’s stock.

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.