RE/MAX (NYSE:RMAX) Stock Price Passes Above 50-Day Moving Average of $19.71

RE/MAX Holdings, Inc. (NYSE:RMAXGet Rating) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $19.71 and traded as high as $21.67. RE/MAX shares last traded at $21.50, with a volume of 98,556 shares.

Analyst Ratings Changes

RMAX has been the subject of several analyst reports. Stephens cut their target price on RE/MAX from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, November 7th. StockNews.com initiated coverage on RE/MAX in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Jonestrading cut their target price on RE/MAX from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, September 26th.

RE/MAX Trading Up 2.1 %

The firm has a fifty day simple moving average of $19.71 and a two-hundred day simple moving average of $21.18. The stock has a market cap of $392.27 million, a PE ratio of 39.09 and a beta of 1.31. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 9.52.

RE/MAX (NYSE:RMAXGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.05). RE/MAX had a net margin of 2.91% and a return on equity of 89.01%. The business had revenue of $88.94 million during the quarter, compared to analysts’ expectations of $89.99 million. As a group, equities analysts expect that RE/MAX Holdings, Inc. will post 1.57 earnings per share for the current fiscal year.

RE/MAX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $0.92 annualized dividend and a dividend yield of 4.28%. RE/MAX’s payout ratio is currently 167.28%.

Insider Buying and Selling at RE/MAX

In related news, Director Ronald E. Harrison sold 6,000 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $19.00, for a total transaction of $114,000.00. Following the transaction, the director now directly owns 20,098 shares of the company’s stock, valued at approximately $381,862. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Ronald E. Harrison sold 6,000 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $19.00, for a total transaction of $114,000.00. Following the transaction, the director now directly owns 20,098 shares of the company’s stock, valued at approximately $381,862. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Adam K. Peterson acquired 1,464 shares of the firm’s stock in a transaction that occurred on Tuesday, December 20th. The shares were purchased at an average cost of $18.98 per share, for a total transaction of $27,786.72. Following the completion of the acquisition, the insider now owns 2,301,683 shares in the company, valued at approximately $43,685,943.34. The disclosure for this purchase can be found here. Insiders have acquired a total of 71,811 shares of company stock valued at $1,350,745 in the last 90 days. Corporate insiders own 3.37% of the company’s stock.

Hedge Funds Weigh In On RE/MAX

A number of large investors have recently modified their holdings of the company. Captrust Financial Advisors increased its stake in RE/MAX by 115.0% in the 1st quarter. Captrust Financial Advisors now owns 1,017 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 544 shares during the period. Lazard Asset Management LLC purchased a new position in RE/MAX in the 2nd quarter worth approximately $29,000. Mutual of America Capital Management LLC increased its stake in RE/MAX by 18.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 3,235 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 514 shares during the period. National Bank of Canada FI purchased a new position in RE/MAX in the 2nd quarter worth approximately $89,000. Finally, Point72 Hong Kong Ltd purchased a new position in RE/MAX in the 3rd quarter worth approximately $78,000. 93.34% of the stock is owned by hedge funds and other institutional investors.

About RE/MAX

(Get Rating)

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company operates through three segments: Real Estate, Mortgage, and Marketing Funds. It 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.

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