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

RE/MAX Holdings, Inc. (NYSE:RMAXGet Rating)’s share price passed above its fifty day moving average during trading on Monday . The stock has a fifty 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 traded.

Analyst Ratings Changes

Several brokerages have recently commented on RMAX. StockNews.com began coverage on RE/MAX in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Stephens decreased their target price on RE/MAX from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, November 7th.

RE/MAX Trading Up 0.2 %

The company has a debt-to-equity ratio of 9.52, a current ratio of 2.06 and a quick ratio of 2.06. The company has a fifty day moving average of $19.75 and a 200-day moving average of $21.15. The firm has a market capitalization of $390.08 million, a PE ratio of 38.78 and a beta of 1.31.

RE/MAX (NYSE:RMAXGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.05). RE/MAX had a return on equity of 89.01% and a net margin of 2.91%. The firm had revenue of $88.94 million for the quarter, compared to analysts’ expectations of $89.99 million. On average, sell-side analysts anticipate that RE/MAX Holdings, Inc. will post 1.57 earnings per share for the current fiscal year.

RE/MAX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $0.92 annualized dividend and a yield of 4.30%. RE/MAX’s dividend payout ratio (DPR) is currently 167.28%.

Insider Buying and Selling at RE/MAX

In related news, major shareholder Adam K. Peterson bought 45,000 shares of the business’s stock in a transaction on Tuesday, November 15th. The shares were bought at an average cost of $19.44 per share, for a total transaction of $874,800.00. Following the completion of the acquisition, the insider now directly owns 2,279,158 shares in the company, valued at $44,306,831.52. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other 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 value of $114,000.00. Following the sale, the director now directly owns 20,098 shares of the company’s stock, valued at $381,862. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Adam K. Peterson purchased 45,000 shares of the stock in a transaction dated Tuesday, November 15th. The stock was acquired at an average cost of $19.44 per share, for a total transaction of $874,800.00. Following the completion of the transaction, the insider now owns 2,279,158 shares of the company’s stock, valued at approximately $44,306,831.52. The disclosure for this purchase can be found here. Insiders have purchased a total of 71,811 shares of company stock worth $1,350,745 over the last three months. Corporate insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On RE/MAX

Several hedge funds and other institutional investors have recently made changes to their positions in RMAX. Raymond James & Associates acquired a new stake in shares of RE/MAX in the first quarter valued at about $368,000. Bank of New York Mellon Corp grew its position in shares of RE/MAX by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 206,357 shares of the financial services provider’s stock valued at $5,724,000 after purchasing an additional 7,507 shares during the last quarter. American Century Companies Inc. grew its position in shares of RE/MAX by 28.6% in the first quarter. American Century Companies Inc. now owns 99,191 shares of the financial services provider’s stock valued at $2,751,000 after purchasing an additional 22,034 shares during the last quarter. Citigroup Inc. grew its position in shares of RE/MAX by 5.5% in the first quarter. Citigroup Inc. now owns 18,470 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 969 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in RE/MAX by 49.9% during the first quarter. MetLife Investment Management LLC now owns 9,368 shares of the financial services provider’s stock worth $260,000 after buying an additional 3,119 shares in the last quarter. 93.34% of the stock is owned by institutional investors and hedge funds.

About RE/MAX

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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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