RE/MAX (NYSE:RMAX) Shares Pass Above 50 Day Moving Average – What’s Next?

RE/MAX Holdings, Inc. (NYSE:RMAX) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $9.85 and traded as high as $11.68. RE/MAX shares last traded at $11.6610, with a volume of 268,199 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of RE/MAX in a research note on Monday, April 27th. JonesTrading upgraded shares of RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 price target for the company in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, RE/MAX presently has a consensus rating of “Hold” and a consensus price target of $13.80.

RE/MAX Stock Up 8.8%

The company has a market cap of $247.56 million, a P/E ratio of 1,166.10 and a beta of 1.82. The company has a 50 day moving average price of $9.85 and a 200-day moving average price of $8.05.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings results on Friday, May 8th. The financial services provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). RE/MAX had a net margin of 0.13% and a negative return on equity of 90.29%. The business had revenue of $53.36 million for the quarter, compared to analyst estimates of $73.21 million.

Insider Buying and Selling

In other RE/MAX news, insider Adam K. Peterson sold 632,091 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $9.84, for a total transaction of $6,219,775.44. Following the transaction, the insider owned 1,691,727 shares of the company’s stock, valued at approximately $16,646,593.68. This trade represents a 27.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 1,341,378 shares of company stock worth $14,028,770. 6.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in 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 in the last quarter. Russell Investments Group Ltd. boosted its stake in RE/MAX by 166.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 398,707 shares of the financial services provider’s stock valued at $3,760,000 after purchasing an additional 249,188 shares in the last quarter. Seven Six Capital Management LLC bought a new position in RE/MAX during the 1st quarter valued at $1,290,000. Jane Street Group LLC increased its position in shares of RE/MAX by 209.6% during the 4th quarter. Jane Street Group LLC now owns 234,829 shares of the financial services provider’s stock valued at $1,782,000 after purchasing an additional 158,986 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of RE/MAX during the 1st quarter valued at $861,000. 93.17% of the stock is currently owned by institutional investors.

About RE/MAX

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.