RE/MAX (NYSE:RMAX) Share Price Passes Below 200 Day Moving Average – Here’s Why

RE/MAX Holdings, Inc. (NYSE:RMAX) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.40 and traded as low as $7.73. RE/MAX shares last traded at $7.82, with a volume of 90,280 shares trading hands.

Wall Street Analysts Forecast Growth

RMAX has been the subject of several research analyst reports. Wall Street Zen upgraded RE/MAX from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of RE/MAX in a report on Friday, October 31st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $9.00.

RE/MAX Trading Down 1.3%

The firm has a 50 day moving average price of $7.93 and a 200-day moving average price of $8.40. The firm has a market cap of $156.87 million, a price-to-earnings ratio of 12.82 and a beta of 1.24.

RE/MAX (NYSE:RMAX) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. RE/MAX had a net margin of 4.27% and a negative return on equity of 61.21%. The company had revenue of $73.25 million for the quarter, compared to the consensus estimate of $73.68 million. As a group, equities analysts expect that RE/MAX Holdings, Inc. will post 0.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambiar Investors LLC acquired a new stake in shares of RE/MAX during the 4th quarter worth about $98,000. Harbor Capital Advisors Inc. raised its holdings in RE/MAX by 20.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 7,698 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 1,317 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of RE/MAX by 31.2% during the 4th quarter. SG Americas Securities LLC now owns 15,212 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 3,615 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of RE/MAX by 95.5% during the third quarter. JPMorgan Chase & Co. now owns 533,201 shares of the financial services provider’s stock worth $5,028,000 after purchasing an additional 260,416 shares during the last quarter. Finally, Millennium Management LLC lifted its position in RE/MAX by 97.0% during the third quarter. Millennium Management LLC now owns 125,290 shares of the financial services provider’s stock worth $1,181,000 after buying an additional 61,695 shares during the period. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

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.