Re/Max Holdings Inc (NYSE:RMAX) Short Interest Up 31.8% in July

Re/Max Holdings Inc (NYSE:RMAX) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,289,800 shares, a growth of 31.8% from the June 30th total of 978,300 shares. Based on an average daily volume of 258,700 shares, the days-to-cover ratio is presently 5.0 days. Currently, 7.4% of the shares of the stock are sold short.

In other Re/Max news, Director Gail A. Liniger acquired 45,169 shares of the stock in a transaction on Monday, June 3rd. The stock was acquired at an average price of $30.11 per share, for a total transaction of $1,360,038.59. Following the completion of the transaction, the director now directly owns 45,169 shares of the company’s stock, valued at $1,360,038.59. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gail A. Liniger acquired 122,911 shares of the stock in a transaction on Wednesday, June 5th. The shares were acquired at an average price of $30.33 per share, with a total value of $3,727,890.63. Following the transaction, the director now directly owns 45,169 shares of the company’s stock, valued at $1,369,975.77. The disclosure for this purchase can be found here. Insiders have acquired 446,380 shares of company stock valued at $13,990,354 in the last quarter. 0.52% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC increased its stake in Re/Max by 48.1% in the 1st quarter. Advisory Services Network LLC now owns 1,105 shares of the financial services provider’s stock worth $43,000 after buying an additional 359 shares during the period. Bank of Montreal Can increased its stake in Re/Max by 36.1% in the 1st quarter. Bank of Montreal Can now owns 1,969 shares of the financial services provider’s stock worth $77,000 after buying an additional 522 shares during the period. BNP Paribas Arbitrage SA increased its stake in Re/Max by 363.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,271 shares of the financial services provider’s stock worth $126,000 after buying an additional 2,565 shares during the period. Quantamental Technologies LLC increased its stake 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 buying an additional 2,643 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Re/Max in the 4th quarter worth about $172,000. 99.57% of the stock is currently owned by institutional investors.

Several equities analysts have commented on the stock. Compass Point lowered shares of Re/Max from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $31.00 in a research report on Tuesday, August 6th. ValuEngine raised shares of Re/Max from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Stephens increased their target price on shares of Re/Max from $31.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Craig Hallum downgraded shares of Re/Max from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research note on Friday, May 3rd. Finally, TheStreet downgraded shares of Re/Max from a “b-” rating to a “c+” rating in a research note on Tuesday, May 28th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $40.60.

Shares of RMAX traded down $0.37 during midday trading on Monday, hitting $26.49. The stock had a trading volume of 124,876 shares, compared to its average volume of 318,769. Re/Max has a 1 year low of $25.68 and a 1 year high of $50.35. The stock has a market capitalization of $487.70 million, a price-to-earnings ratio of 13.11 and a beta of 1.15. The company has a current ratio of 2.14, a quick ratio of 1.92 and a debt-to-equity ratio of 3.07. The company’s 50 day moving average is $29.59.

Re/Max (NYSE:RMAX) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.06. The company had revenue of $71.40 million for the quarter, compared to the consensus estimate of $72.26 million. Re/Max had a net margin of 11.03% and a return on equity of 73.12%. The firm’s revenue was up 31.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. As a group, sell-side analysts predict that Re/Max will post 1.92 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.17%. The ex-dividend date is Tuesday, August 13th. Re/Max’s dividend payout ratio is presently 41.58%.

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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