Re/Max Holdings Inc (NYSE:RMAX) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 1,307,100 shares, a decline of 5.1% from the May 30th total of 1,377,500 shares. Approximately 7.5% of the shares of the company are short sold. Based on an average daily volume of 198,000 shares, the short-interest ratio is presently 6.6 days.
RMAX stock opened at $29.95 on Tuesday. Re/Max has a 1-year low of $27.84 and a 1-year high of $56.30. The company has a market cap of $543.80 million, a price-to-earnings ratio of 14.83 and a beta of 1.16. The firm has a 50 day moving average of $31.10. The company has a debt-to-equity ratio of 3.40, a quick ratio of 1.92 and a current ratio of 1.92.
Re/Max (NYSE:RMAX) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. Re/Max had a return on equity of 70.42% and a net margin of 11.45%. The company had revenue of $71.18 million for the quarter, compared to analyst estimates of $69.51 million. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue was up 35.2% compared to the same quarter last year. On average, research analysts expect that Re/Max will post 1.97 earnings per share for the current fiscal year.
In other Re/Max news, Director Gail A. Liniger acquired 122,911 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average price of $30.33 per share, with a total value of $3,727,890.63. Following the transaction, the director now owns 45,169 shares of the company’s stock, valued at $1,369,975.77. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Predovich sold 1,388 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $30.89, for a total value of $42,875.32. The disclosure for this sale can be found here. Insiders have purchased a total of 446,380 shares of company stock valued at $13,990,354 in the last three months. 0.52% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMAX. Deprince Race & Zollo Inc. bought a new stake in Re/Max during the 1st quarter worth approximately $30,046,000. Granite Investment Partners LLC acquired a new position in Re/Max during the 1st quarter worth $15,270,000. BlackRock Inc. lifted its holdings in Re/Max by 5.7% during the 4th quarter. BlackRock Inc. now owns 2,705,898 shares of the financial services provider’s stock worth $83,207,000 after buying an additional 145,953 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Re/Max by 9.1% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,691,745 shares of the financial services provider’s stock worth $65,200,000 after buying an additional 141,138 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in Re/Max by 368.8% during the 4th quarter. Two Sigma Investments LP now owns 130,695 shares of the financial services provider’s stock worth $4,019,000 after buying an additional 102,816 shares in the last quarter. Institutional investors and hedge funds own 99.57% of the company’s stock.
RMAX has been the topic of several research reports. Craig Hallum set a $43.00 price target on Carbonite and gave the company a “buy” rating in a research note on Friday, May 3rd. Morgan Stanley set a $39.00 price target on Re/Max and gave the company a “buy” rating in a research note on Monday, March 18th. TheStreet upgraded BlackRock TCP Capital from a “c+” rating to a “b” rating in a research note on Tuesday, May 28th. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Compass Point upgraded Realogy from a “sell” rating to a “neutral” rating in a research note on Monday, July 8th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $49.29.
Re/Max Company Profile
RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. It also provides real estate technology solutions.
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