RE/MAX (NYSE:RMAX) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

Shares of RE/MAX Holdings, Inc. (NYSE:RMAX) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $9.85 and traded as high as $11.68. RE/MAX shares last traded at $11.6610, with a volume of 268,199 shares.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RMAX. JonesTrading upgraded RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 price target on the stock in a report on Monday, April 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of RE/MAX in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $13.80.

RE/MAX Price Performance

The stock has a market capitalization of $236.39 million, a price-to-earnings ratio of 1,113.30 and a beta of 1.82. The business’s fifty day moving average price is $9.85 and its 200-day moving average price is $8.08.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). RE/MAX had a negative return on equity of 90.29% and a net margin of 0.13%.The company had revenue of $53.36 million for the quarter, compared to the consensus estimate of $73.21 million.

Insider Buying and Selling at RE/MAX

In related news, insider Adam K. Peterson sold 632,091 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $9.84, for a total transaction of $6,219,775.44. Following the transaction, the insider directly owned 1,691,727 shares in the company, valued at approximately $16,646,593.68. The trade was a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,341,378 shares of company stock worth $14,028,770 over the last 90 days. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On RE/MAX

Several hedge funds have recently modified their holdings of RMAX. Strs Ohio bought a new position in shares of RE/MAX in the first quarter valued at approximately $30,000. Harbor Capital Advisors Inc. grew its stake in RE/MAX by 20.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 7,698 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 1,317 shares during the period. IFC & Insurance Marketing Inc. bought a new position in RE/MAX in the 4th quarter valued at $76,000. Sei Investments Co. purchased a new stake in shares of RE/MAX during the 2nd quarter valued at $86,000. Finally, Cambiar Investors LLC purchased a new stake in shares of RE/MAX during the 4th quarter valued at $98,000. Institutional investors own 93.17% of the company’s stock.

About RE/MAX

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.