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

Re/Max Holdings Inc (NYSE:RMAX) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,190,000 shares, an increase of 21.6% from the December 15th total of 978,500 shares. Based on an average trading volume of 137,900 shares, the short-interest ratio is presently 8.6 days. Currently, 6.9% of the company’s shares are short sold.

A number of institutional investors and hedge funds have recently modified their holdings of RMAX. Bank of Montreal Can raised 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 valued at $93,000 after buying an additional 1,013 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Re/Max by 18.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 218,108 shares of the financial services provider’s stock valued at $6,710,000 after buying an additional 34,256 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Re/Max by 35.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,586 shares of the financial services provider’s stock valued at $233,000 after buying an additional 2,000 shares during the period. Northern Trust Corp raised its holdings in Re/Max by 4.5% in the 2nd quarter. Northern Trust Corp now owns 287,352 shares of the financial services provider’s stock valued at $8,838,000 after buying an additional 12,409 shares during the period. Finally, Elkfork Partners LLC raised 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 valued at $109,000 after buying an additional 638 shares during the period.

Several research firms have recently commented on RMAX. Zacks Investment Research upgraded Re/Max from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a 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 target on the stock in a report on Monday, September 16th. Finally, ValuEngine upgraded Re/Max from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $37.17.

Shares of NYSE RMAX traded down $0.07 during trading on Tuesday, hitting $37.73. 74,400 shares of the company were exchanged, compared to its average volume of 113,578. Re/Max has a 12-month low of $24.67 and a 12-month high of $44.16. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.20 and a current ratio of 1.20. The company has a fifty day moving average price of $38.27 and a 200-day moving average price of $32.50. The firm has a market capitalization of $670.77 million, a PE ratio of 18.68 and a beta of 1.25.

Re/Max (NYSE:RMAX) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. The business had revenue of $71.54 million for 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 company’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. Research analysts anticipate that Re/Max will post 2.02 earnings per share for the current fiscal year.

About Re/Max

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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