RE/MAX (NYSE:RMAX) Stock Passes Below 200-Day Moving Average - Here's Why

Shares of RE/MAX Holdings, Inc. (NYSE:RMAX - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.71 and traded as low as $8.27. RE/MAX shares last traded at $8.45, with a volume of 199,222 shares traded.

Analyst Ratings Changes

RMAX has been the subject of several recent research reports. Wall Street Zen raised shares of RE/MAX from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 27th. Keefe, Bruyette & Woods cut their price objective on shares of RE/MAX from $10.00 to $9.00 and set a "market perform" rating on the stock in a report on Monday, April 28th.

RE/MAX Trading Up 1.7%

The business's fifty day moving average price is $7.92 and its 200 day moving average price is $8.71. The firm has a market capitalization of $168.41 million, a price-to-earnings ratio of 19.65 and a beta of 1.17.

Insider Activity at RE/MAX

In other news, EVP Abigail C. Lee sold 10,000 shares of RE/MAX stock in a transaction on Friday, May 16th. The shares were sold at an average price of $7.78, for a total value of $77,800.00. Following the transaction, the executive vice president directly owned 151,874 shares of the company's stock, valued at $1,181,579.72. The trade was a 6.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On RE/MAX

Several institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in shares of RE/MAX by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 151,779 shares of the financial services provider's stock worth $1,619,000 after purchasing an additional 1,092 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in RE/MAX by 4.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,887 shares of the financial services provider's stock valued at $266,000 after purchasing an additional 1,154 shares in the last quarter. Northern Trust Corp lifted its holdings in RE/MAX by 1.0% in the 4th quarter. Northern Trust Corp now owns 164,217 shares of the financial services provider's stock valued at $1,752,000 after purchasing an additional 1,572 shares in the last quarter. Brandywine Global Investment Management LLC lifted its holdings in RE/MAX by 12.5% in the 1st quarter. Brandywine Global Investment Management LLC now owns 14,370 shares of the financial services provider's stock valued at $120,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of RE/MAX by 27.5% during the 4th quarter. Wells Fargo & Company MN now owns 10,603 shares of the financial services provider's stock valued at $113,000 after acquiring an additional 2,286 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.

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