RE/MAX Holdings, Inc. (NYSE:RMAX) Short Interest Update

RE/MAX Holdings, Inc. (NYSE:RMAX) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 563,600 shares, a drop of 23.4% from the November 15th total of 735,500 shares. Approximately 3.3% of the company’s shares are sold short. Based on an average daily trading volume, of 238,300 shares, the days-to-cover ratio is currently 2.4 days.

RE/MAX Trading Down 2.9 %

Shares of RE/MAX stock traded down $0.36 during trading on Friday, hitting $11.94. 88,128 shares of the stock traded hands, compared to its average volume of 262,887. RE/MAX has a 52-week low of $6.94 and a 52-week high of $14.31. The stock’s fifty day simple moving average is $12.23 and its 200 day simple moving average is $10.70. The firm has a market cap of $225.31 million, a P/E ratio of -22.11 and a beta of 1.34.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of RE/MAX from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.38.

Insider Buying and Selling

In related news, major shareholder Adam K. Peterson bought 27,366 shares of the stock in a transaction dated Monday, November 18th. The stock was purchased at an average cost of $10.96 per share, with a total value of $299,931.36. Following the completion of the purchase, the insider now owns 3,178,040 shares of the company’s stock, valued at $34,831,318.40. This trade represents a 0.87 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.99% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RE/MAX

Large investors have recently modified their holdings of the business. nVerses Capital LLC lifted its position in shares of RE/MAX by 566.7% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,700 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of RE/MAX by 19,729.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,354 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 5,327 shares in the last quarter. Quest Partners LLC purchased a new stake in RE/MAX during the third quarter valued at approximately $106,000. Quantinno Capital Management LP acquired a new stake in RE/MAX in the third quarter valued at approximately $135,000. Finally, Paloma Partners Management Co purchased a new position in RE/MAX in the third quarter worth $143,000. Institutional investors own 93.17% of the company’s stock.

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.