RE/MAX (NYSE:RMAX) Shares Pass Below 200 Day Moving Average - Here's What Happened

RE/MAX Holdings, Inc. (NYSE:RMAX - Get Free Report) passed 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.

Analysts Set New Price Targets

A number of research firms have weighed in on RMAX. Keefe, Bruyette & Woods dropped 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 research note on Monday, April 28th. Wall Street Zen lowered shares of RE/MAX from a "strong-buy" rating to a "buy" rating in a research note on Saturday.

RE/MAX Stock Up 0.4%

The business's 50-day moving average price is $7.93 and its 200 day moving average price is $8.66. The company has a market capitalization of $165.56 million, a P/E ratio of 19.31 and a beta of 1.17.

Insider Buying and Selling

In other RE/MAX news, EVP Abigail C. Lee sold 10,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On RE/MAX

A number of hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in 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 valued at $1,619,000 after buying an additional 1,092 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in RE/MAX by 4.9% during 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 buying an additional 1,154 shares during the last quarter. Northern Trust Corp raised its holdings in RE/MAX by 1.0% during the 4th quarter. Northern Trust Corp now owns 164,217 shares of the financial services provider's stock valued at $1,752,000 after buying an additional 1,572 shares during the last quarter. Brandywine Global Investment Management LLC raised its holdings in RE/MAX by 12.5% during 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 buying an additional 1,600 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in 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 buying an additional 2,286 shares during the last quarter. 93.17% of the stock is currently owned by institutional investors.

About RE/MAX

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.