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

RE/MAX Holdings, Inc. (NYSE:RMAX - Get Free Report) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 633,700 shares, a growth of 27.4% from the February 28th total of 497,400 shares. Based on an average daily trading volume, of 151,000 shares, the days-to-cover ratio is presently 4.2 days. Currently, 4.0% of the shares of the company are short sold.

Insider Activity at RE/MAX

In related news, major shareholder Adam K. Peterson bought 11,798 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were bought at an average cost of $9.64 per share, for a total transaction of $113,732.72. Following the completion of the transaction, the insider now owns 3,247,929 shares of the company's stock, valued at approximately $31,310,035.56. This trade represents a 0.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. raised its position in shares of RE/MAX by 31.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,579 shares of the financial services provider's stock valued at $60,000 after buying an additional 1,336 shares during the last quarter. State of Wyoming bought a new stake in RE/MAX in the 4th quarter valued at $91,000. Martingale Asset Management L P bought a new stake in RE/MAX in the 4th quarter valued at $110,000. Wells Fargo & Company MN lifted its stake in RE/MAX by 27.5% in the 4th quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider's stock worth $113,000 after purchasing an additional 2,286 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of RE/MAX by 39.2% during the 4th quarter. AlphaQuest LLC now owns 11,829 shares of the financial services provider's stock valued at $126,000 after purchasing an additional 3,329 shares during the last quarter. 93.17% of the stock is currently owned by institutional investors.

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RE/MAX Trading Down 4.9 %

Shares of RMAX traded down $0.41 during trading hours on Thursday, reaching $7.97. 178,623 shares of the stock traded hands, compared to its average volume of 221,163. The company has a market cap of $151.22 million, a P/E ratio of 22.76 and a beta of 1.32. The company's 50-day moving average price is $9.37 and its two-hundred day moving average price is $10.91. RE/MAX has a 52-week low of $6.94 and a 52-week high of $14.31.

RE/MAX (NYSE:RMAX - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.10). The business had revenue of $72.47 million during the quarter, compared to analysts' expectations of $74.34 million. RE/MAX had a net margin of 2.32% and a negative return on equity of 38.69%. On average, research analysts forecast that RE/MAX will post 0.89 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded RE/MAX from a "buy" rating to a "strong-buy" rating in a research note on Thursday, March 27th.

RE/MAX Company Profile

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.