RE/MAX (NYSE:RMAX) Stock Crosses Below 200 Day Moving Average of $9.94

RE/MAX Holdings, Inc. (NYSE:RMAX)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.94 and traded as low as $6.94. RE/MAX shares last traded at $7.41, with a volume of 364,391 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RMAX shares. Jonestrading reissued a “hold” rating on shares of RE/MAX in a research note on Friday, March 1st. StockNews.com cut RE/MAX from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Keefe, Bruyette & Woods decreased their target price on 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, Morgan Stanley decreased their target price on RE/MAX from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.00.

RE/MAX Price Performance

The firm has a market capitalization of $135.43 million, a PE ratio of -1.94 and a beta of 1.40. The firm has a fifty day moving average price of $8.18 and a 200 day moving average price of $9.94.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. RE/MAX had a negative return on equity of 116.18% and a negative net margin of 21.19%. The business had revenue of $76.60 million during the quarter, compared to the consensus estimate of $77.19 million. On average, sell-side analysts expect that RE/MAX Holdings, Inc. will post 0.78 EPS for the current year.

Insider Activity

In other news, EVP Abigail C. Lee sold 4,500 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total transaction of $38,295.00. Following the completion of the sale, the executive vice president now directly owns 89,229 shares of the company’s stock, valued at $759,338.79. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Abigail C. Lee sold 4,500 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $8.51, for a total value of $38,295.00. Following the completion of the sale, the executive vice president now directly owns 89,229 shares of the company’s stock, valued at approximately $759,338.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Adam K. Peterson acquired 54,000 shares of RE/MAX stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average cost of $7.64 per share, with a total value of $412,560.00. Following the completion of the purchase, the insider now owns 3,037,843 shares in the company, valued at approximately $23,209,120.52. The disclosure for this purchase can be found here. 4.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RE/MAX

Several hedge funds have recently bought and sold shares of the business. Jump Financial LLC raised its stake in shares of RE/MAX by 2.3% during the 4th quarter. Jump Financial LLC now owns 45,800 shares of the financial services provider’s stock worth $611,000 after purchasing an additional 1,028 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of RE/MAX by 14.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 12,212 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 1,557 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of RE/MAX by 22.8% during the 4th quarter. SG Americas Securities LLC now owns 11,523 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 2,136 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of RE/MAX during the 3rd quarter worth about $35,000. Finally, Brandywine Global Investment Management LLC raised its stake in shares of RE/MAX by 10.9% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 53,787 shares of the financial services provider’s stock worth $696,000 after purchasing an additional 5,301 shares in the last quarter. 93.17% of the stock is owned by hedge funds and other institutional investors.

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.