RE/MAX Holdings, Inc. (NYSE:RMAX) Short Interest Up 49.6% in March

RE/MAX Holdings, Inc. (NYSE:RMAX) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 763,262 shares, an increase of 49.6% from the February 26th total of 510,357 shares. Approximately 4.1% of the company’s stock are sold short. Based on an average daily volume of 272,456 shares, the short-interest ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of RE/MAX in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $9.00.

RE/MAX Stock Performance

Shares of RMAX traded down $0.41 during mid-day trading on Friday, hitting $5.79. 386,072 shares of the company traded hands, compared to its average volume of 258,306. The stock has a market cap of $116.51 million, a price-to-earnings ratio of 14.83 and a beta of 1.26. The stock has a 50-day moving average price of $6.80 and a two-hundred day moving average price of $7.78. RE/MAX has a 1 year low of $5.65 and a 1 year high of $10.32.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings results on Thursday, February 19th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $71.14 million during the quarter, compared to the consensus estimate of $71.33 million. RE/MAX had a negative return on equity of 73.77% and a net margin of 2.80%. On average, analysts forecast that RE/MAX will post 0.89 EPS for the current year.

Institutional Investors Weigh In On RE/MAX

Several large investors have recently added to or reduced their stakes in RMAX. Strs Ohio purchased a new position in shares of RE/MAX in the 1st quarter valued at $30,000. Harbor Capital Advisors Inc. lifted its stake in shares of RE/MAX by 20.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 7,698 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,317 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of RE/MAX during the 3rd quarter worth $95,000. IFC & Insurance Marketing Inc. bought a new stake in RE/MAX during the fourth quarter valued at about $76,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in RE/MAX during the third quarter valued at about $97,000. 93.17% of the stock is owned by hedge funds and other institutional investors.

RE/MAX Company Profile

RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.

Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.