RE/MAX (NYSE:RMAX) Stock Price Crosses Above 50-Day Moving Average - Here's What Happened

RE/MAX Holdings, Inc. (NYSE:RMAX - Get Free Report) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $7.83 and traded as high as $8.63. RE/MAX shares last traded at $8.35, with a volume of 168,782 shares traded.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen upgraded shares of RE/MAX from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 27th. Keefe, Bruyette & Woods cut their target price on RE/MAX from $10.00 to $9.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th.

RE/MAX Price Performance

The company's 50 day simple moving average is $7.88 and its 200 day simple moving average is $8.77. The stock has a market cap of $163.23 million, a P/E ratio of 19.05 and a beta of 1.17.

Insider Activity at RE/MAX

In related news, EVP Abigail C. Lee sold 10,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $7.78, for a total transaction of $77,800.00. Following the sale, the executive vice president owned 151,874 shares of the company's stock, valued at approximately $1,181,579.72. This trade represents a 6.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMAX. Magnolia Group LLC increased its position in shares of RE/MAX by 0.8% during the first quarter. Magnolia Group LLC now owns 3,247,929 shares of the financial services provider's stock worth $27,185,000 after acquiring an additional 26,798 shares in the last quarter. Capital World Investors boosted its stake in RE/MAX by 736.3% in the 4th quarter. Capital World Investors now owns 1,500,000 shares of the financial services provider's stock worth $16,005,000 after purchasing an additional 1,320,628 shares during the period. Dimensional Fund Advisors LP increased its holdings in RE/MAX by 24.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 895,668 shares of the financial services provider's stock worth $9,557,000 after purchasing an additional 178,599 shares in the last quarter. Renaissance Technologies LLC raised 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 period. Finally, Geode Capital Management LLC lifted its holdings in shares of RE/MAX by 1.8% in the fourth 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 in 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.