RE/MAX (NYSE:REAX) Shares Break Above Fifty Day Moving Average – Here’s What Happened

RE/MAX Holdings, Inc. (NYSE:REAX) shares crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $11.86 and traded as high as $16.89. RE/MAX shares last traded at $16.03, with a volume of 636,774 shares.

Analyst Ratings Changes

A number of research firms have commented on REAX. Wall Street Zen upgraded shares of RE/MAX to a “hold” rating in a research note on Saturday, August 22nd. JonesTrading reiterated a “buy” rating and set a $40.00 price target on shares of RE/MAX in a research note on Tuesday, September 22nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of RE/MAX in a report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, RE/MAX has an average rating of “Hold” and an average target price of $40.00.

RE/MAX Stock Down 0.2%

The firm has a fifty day moving average of $11.97 and a 200-day moving average of $9.81. The stock has a market capitalization of $357.20 million, a price-to-earnings ratio of -39.02 and a beta of 0.79.

RE/MAX (NYSE:REAX) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.05). The firm had revenue of $51.72 million during the quarter, compared to analysts’ expectations of $72.80 million. RE/MAX had a negative net margin of 3.04% and a negative return on equity of 81.65%.

Institutional Trading of RE/MAX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC purchased a new position in shares of RE/MAX during the 1st quarter worth $861,000. Seven Six Capital Management LLC acquired a new position in shares of RE/MAX during the 1st quarter valued at about $1,290,000. Engineers Gate Manager LP lifted its holdings in shares of RE/MAX by 29.3% during the 2nd quarter. Engineers Gate Manager LP now owns 15,595 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 3,530 shares during the period. Empowered Funds LLC boosted its position in shares of RE/MAX by 6.4% in the first quarter. Empowered Funds LLC now owns 181,253 shares of the financial services provider’s stock worth $1,044,000 after acquiring an additional 10,915 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in RE/MAX by 23.0% during the first quarter. Bank of America Corp DE now owns 52,997 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 9,905 shares during the period. Hedge funds and other institutional investors own 53.28% of the company’s stock.

About RE/MAX

RE/MAX Holdings, Inc is a franchisor in the real estate services industry and the parent company of the RE/MAX brand. Through its franchise network, the company supports independently owned and operated real estate brokerages and agents who provide residential and commercial property brokerage services to buyers, sellers, landlords and tenants.

RE/MAX supports its franchisees with brand marketing, technology platforms, training, business development resources and other services designed to help agents and brokerage owners operate their businesses.