RE/MAX Holdings, Inc. (NYSE:RMAX) Sees Significant Increase in Short Interest

RE/MAX Holdings, Inc. (NYSE:RMAX) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 763,262 shares, a growth of 49.6% from the February 26th total of 510,357 shares. Currently, 4.1% of the company’s shares are short sold. Based on an average daily trading volume, of 272,456 shares, the short-interest ratio is presently 2.8 days.

RE/MAX Price Performance

Shares of NYSE:RMAX traded down $0.41 during midday trading on Friday, reaching $5.79. 386,072 shares of the company’s stock were exchanged, compared to its average volume of 247,730. The stock has a market cap of $116.51 million, a price-to-earnings ratio of 14.83 and a beta of 1.26. RE/MAX has a fifty-two week low of $5.65 and a fifty-two week high of $10.32. The firm’s 50 day simple moving average is $6.80 and its two-hundred day simple moving average is $7.80.

RE/MAX (NYSE:RMAX) last posted its earnings results on Thursday, February 19th. The financial services provider reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $71.14 million for the quarter, compared to analysts’ expectations of $71.33 million. RE/MAX had a net margin of 2.80% and a negative return on equity of 73.77%. Equities research analysts predict that RE/MAX will post 0.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of RE/MAX in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $9.00.

Hedge Funds Weigh In On RE/MAX

Several large investors have recently made changes to their positions in RMAX. Harbor Capital Advisors Inc. boosted its position in shares of RE/MAX by 20.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 7,698 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,317 shares during the period. First Trust Advisors LP grew its stake in shares of RE/MAX by 2.3% in the fourth quarter. First Trust Advisors LP now owns 63,406 shares of the financial services provider’s stock valued at $481,000 after buying an additional 1,446 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in RE/MAX by 7.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 25,753 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 1,796 shares during the period. Alliancebernstein L.P. increased its stake in RE/MAX by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 37,900 shares of the financial services provider’s stock worth $357,000 after buying an additional 2,000 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in RE/MAX by 5.5% during the 3rd quarter. Voya Investment Management LLC now owns 40,816 shares of the financial services provider’s stock worth $385,000 after buying an additional 2,137 shares in the last quarter. 93.17% of the stock is currently owned by institutional investors and hedge funds.

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.