Short Interest in RE/MAX Holdings, Inc. (NYSE:RMAX) Expands By 16.2%

RE/MAX Holdings, Inc. (NYSE:RMAX) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 497,400 shares, an increase of 16.2% from the February 13th total of 428,000 shares. Based on an average daily trading volume, of 141,300 shares, the days-to-cover ratio is currently 3.5 days. Currently, 3.2% of the company’s shares are short sold.

Insiders Place Their Bets

In other news, major shareholder Adam K. Peterson bought 15,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was bought at an average price of $10.30 per share, for a total transaction of $154,500.00. Following the purchase, the insider now directly owns 3,236,131 shares in the company, valued at $33,332,149.30. This trade represents a 0.47 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders acquired 40,434 shares of company stock worth $410,729. 5.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMAX. Capital World Investors increased its position in RE/MAX by 736.3% during the 4th quarter. Capital World Investors now owns 1,500,000 shares of the financial services provider’s stock valued at $16,005,000 after buying an additional 1,320,628 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of RE/MAX by 229.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 354,651 shares of the financial services provider’s stock worth $4,415,000 after purchasing an additional 247,131 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of RE/MAX by 24.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 895,668 shares of the financial services provider’s stock worth $9,557,000 after purchasing an additional 178,599 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of RE/MAX by 101.6% in the 4th quarter. Prudential Financial Inc. now owns 212,762 shares of the financial services provider’s stock worth $2,270,000 after purchasing an additional 107,207 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of RE/MAX in the 4th quarter worth $1,058,000. Institutional investors own 93.17% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut RE/MAX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

RE/MAX Stock Up 0.2 %

RMAX stock opened at $9.18 on Friday. RE/MAX has a twelve month low of $6.94 and a twelve month high of $14.31. The firm has a market cap of $174.24 million, a PE ratio of 26.23 and a beta of 1.32. The business has a 50 day moving average of $9.58 and a 200 day moving average of $11.07.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. The company had revenue of $72.47 million for the quarter, compared to the consensus estimate of $74.34 million. On average, research analysts expect that RE/MAX will post 0.89 earnings per share for the current fiscal year.

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.