Re/Max Holdings Inc (NYSE:RMAX) Short Interest Update

Posted by Grant Hamersma on Dec 3rd, 2019

Re/Max Holdings Inc (NYSE:RMAX) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,190,000 shares, a drop of 5.6% from the October 31st total of 1,260,000 shares. Based on an average trading volume of 173,100 shares, the days-to-cover ratio is presently 6.9 days. Currently, 6.9% of the company’s stock are sold short.

A number of brokerages have commented on RMAX. Zacks Investment Research upgraded Re/Max from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Thursday, November 7th. JMP Securities upgraded Re/Max from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Monday, September 16th. ValuEngine upgraded Re/Max from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 21st. Compass Point lowered Re/Max from a “buy” rating to a “neutral” rating and reduced their price target for the company from $42.00 to $31.00 in a report on Tuesday, August 6th. Finally, Stephens lifted their price target on Re/Max from $31.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $39.86.

Shares of Re/Max stock opened at $38.23 on Tuesday. The firm has a market cap of $683.97 million, a price-to-earnings ratio of 18.93 and a beta of 1.25. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.20 and a quick ratio of 1.20. Re/Max has a 52-week low of $24.67 and a 52-week high of $44.16. The stock has a 50-day simple moving average of $35.71 and a 200-day simple moving average of $31.08.

Re/Max (NYSE:RMAX) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.04. The business had revenue of $71.54 million during the quarter, compared to analyst estimates of $71.36 million. Re/Max had a return on equity of 60.78% and a net margin of 10.73%. The firm’s revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. As a group, equities research analysts predict that Re/Max will post 1.98 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.21 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.20%. Re/Max’s dividend payout ratio is 41.58%.

Institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC lifted its holdings in shares of Re/Max by 25.0% during the 3rd quarter. Penserra Capital Management LLC now owns 1,360 shares of the financial services provider’s stock valued at $43,000 after buying an additional 272 shares during the last quarter. Tyers Asset Management LLC lifted its holdings in shares of Re/Max by 22.0% during the 2nd quarter. Tyers Asset Management LLC now owns 2,576 shares of the financial services provider’s stock valued at $79,000 after buying an additional 464 shares during the last quarter. Bank of Montreal Can lifted its holdings in Re/Max by 51.4% in the 2nd quarter. Bank of Montreal Can now owns 2,982 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 1,013 shares during the last quarter. Elkfork Partners LLC lifted its holdings in Re/Max by 22.0% in the 2nd quarter. Elkfork Partners LLC now owns 3,542 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 638 shares during the last quarter. Finally, Quantamental Technologies LLC lifted its holdings in Re/Max by 174.9% in the 2nd quarter. Quantamental Technologies LLC now owns 4,154 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 2,643 shares during the last quarter.

Re/Max Company Profile

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company offers its real estate franchise services under the RE/MAX brand name; and mortgage brokerage services under the Motto Mortgage brand. It also provides real estate technology solutions.

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