RE/MAX (NYSE:RMAX) Stock Passes Below 200-Day Moving Average - What's Next?

RE/MAX Holdings, Inc. (NYSE:RMAX - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.12 and traded as low as $7.85. RE/MAX shares last traded at $8.06, with a volume of 236,129 shares changing hands.

Wall Street Analyst Weigh In

RMAX has been the topic of several analyst reports. 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 report on Monday, April 28th. Wall Street Zen cut RE/MAX from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th.

RE/MAX Stock Up 4.1%

The company has a 50-day moving average of $7.62 and a 200-day moving average of $9.12. The company has a market cap of $160.54 million, a PE ratio of 18.73 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 on Friday, May 16th. The stock was sold at an average price of $7.78, for a total value of $77,800.00. Following the sale, the executive vice president now directly owns 151,874 shares in the company, valued at $1,181,579.72. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of RE/MAX

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of RE/MAX by 27.2% during the 4th quarter. Bank of New York Mellon Corp now owns 85,505 shares of the financial services provider's stock valued at $912,000 after purchasing an additional 18,300 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of RE/MAX during the 4th quarter valued at $190,000. Charles Schwab Investment Management Inc. raised 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 valued at $1,619,000 after purchasing an additional 1,092 shares during the period. AlphaQuest LLC raised its stake in shares of RE/MAX by 39.2% during the 4th quarter. AlphaQuest LLC now owns 11,829 shares of the financial services provider's stock valued at $126,000 after purchasing an additional 3,329 shares during the period. Finally, Magnolia Group LLC raised its stake in shares of RE/MAX by 2.2% during the 4th quarter. Magnolia Group LLC now owns 3,221,131 shares of the financial services provider's stock valued at $34,369,000 after purchasing an additional 70,457 shares during the period. 93.17% of the stock is currently owned by institutional investors.

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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