RE/MAX (NYSE:RMAX) Stock Passes Above 50 Day Moving Average - Time to Sell?

Key Points

• RE/MAX shares surpassed their 50-day moving average during trading, reaching a high of $8.47 before closing at $8.15.
• Analysts have downgraded RE/MAX's rating from "buy" to "hold" and reduced their target price from $10.00 to $9.00.
• Recent insider trading includes EVP Abigail C. Lee selling 10,000 shares at an average price of $7.78, reducing her holdings by 6.18%.

RE/MAX Holdings, Inc. (NYSE:RMAX - Get Free Report)'s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $8.14 and traded as high as $8.47. RE/MAX shares last traded at $8.15, with a volume of 245,924 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RMAX shares. Wall Street Zen downgraded RE/MAX from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods dropped their price target on shares of RE/MAX from $10.00 to $9.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th.

RE/MAX Price Performance

The company has a market capitalization of $178.27 million, a price-to-earnings ratio of 18.94 and a beta of 1.17. The stock has a 50-day moving average price of $8.21 and a 200-day moving average price of $8.35.

Institutional Trading of RE/MAX

Several hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. bought a new position in shares of RE/MAX in the 4th quarter valued at $366,000. Geode Capital Management LLC increased its stake in shares of RE/MAX by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 423,443 shares of the financial services provider's stock valued at $4,519,000 after purchasing an additional 7,652 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of RE/MAX by 27.5% in the 4th quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider's stock valued at $113,000 after purchasing an additional 2,286 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of RE/MAX by 2.5% in the 4th quarter. Renaissance Technologies LLC now owns 808,369 shares of the financial services provider's stock valued at $8,625,000 after purchasing an additional 19,969 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of RE/MAX by 11.5% in the 4th quarter. Barclays PLC now owns 28,911 shares of the financial services provider's stock valued at $308,000 after purchasing an additional 2,978 shares during the last quarter. 93.17% of the stock is owned by institutional investors and hedge funds.

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.