RE/MAX (NYSE:RMAX) Stock Crosses Below Two Hundred Day Moving Average of $18.74

RE/MAX Holdings, Inc. (NYSE:RMAX)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.74 and traded as low as $16.35. RE/MAX shares last traded at $16.45, with a volume of 66,694 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RMAX. Stephens restated an “equal weight” rating and set a $21.00 price target on shares of RE/MAX in a report on Monday, August 21st. StockNews.com raised RE/MAX from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. BTIG Research assumed coverage on RE/MAX in a research report on Monday, July 17th. They set a “neutral” rating for the company. Finally, Jonestrading reissued a “buy” rating and issued a $22.00 price objective on shares of RE/MAX in a report on Friday, August 4th.

RE/MAX Stock Performance

The company has a market cap of $298.24 million, a P/E ratio of -274.12 and a beta of 1.48. The business has a fifty day moving average of $18.77 and a 200 day moving average of $18.74. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 18.39.

RE/MAX (NYSE:RMAX) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. RE/MAX had a positive return on equity of 107.26% and a negative net margin of 0.33%. The business had revenue of $82.45 million for the quarter, compared to analysts’ expectations of $82.02 million. On average, equities analysts predict that RE/MAX Holdings, Inc. will post 0.97 EPS for the current year.

RE/MAX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 5.59%. The ex-dividend date was Monday, August 14th. RE/MAX’s dividend payout ratio is presently -1,533.08%.

Insider Transactions at RE/MAX

In related news, Director Kathleen J. Cunningham sold 3,000 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $18.27, for a total transaction of $54,810.00. Following the completion of the transaction, the director now owns 26,707 shares in the company, valued at approximately $487,936.89. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors boosted its stake in shares of RE/MAX by 115.0% in the first quarter. Captrust Financial Advisors now owns 1,017 shares of the financial services provider’s stock worth $28,000 after buying an additional 544 shares during the last quarter. CWM LLC raised its holdings in RE/MAX by 128.8% in the 2nd quarter. CWM LLC now owns 1,421 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 800 shares during the period. Quadrant Capital Group LLC raised its holdings in RE/MAX by 202.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,517 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,015 shares during the period. Point72 Middle East FZE acquired a new position in RE/MAX in the 4th quarter worth about $35,000. Finally, Amundi acquired a new position in RE/MAX in the 4th quarter worth about $41,000. 93.17% of the stock is owned by institutional investors and hedge funds.

About RE/MAX

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage 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.