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

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

Analyst Ratings Changes

A number of brokerages recently weighed in on RMAX. Wall Street Zen cut shares of RE/MAX from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods lowered their price target 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.

RE/MAX Stock Up 6.3%

The stock has a market capitalization of $170.36 million, a P/E ratio of 19.88 and a beta of 1.17. The firm's 50-day simple moving average is $7.67 and its 200 day simple moving average is $9.03.

Insider Transactions at RE/MAX

In other news, EVP Abigail C. Lee sold 10,000 shares of the 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 completion of the sale, the executive vice president now owns 151,874 shares in the company, valued at approximately $1,181,579.72. This represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On RE/MAX

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in shares of RE/MAX by 27.2% during the fourth 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 last quarter. Proficio Capital Partners LLC acquired a new stake in RE/MAX during the 4th quarter worth about $190,000. Charles Schwab Investment Management Inc. lifted its stake in RE/MAX by 0.7% during the fourth 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 in the last quarter. AlphaQuest LLC boosted its holdings in shares of RE/MAX by 39.2% in the fourth quarter. AlphaQuest LLC now owns 11,829 shares of the financial services provider's stock worth $126,000 after buying an additional 3,329 shares during the period. Finally, Magnolia Group LLC boosted its holdings in shares of RE/MAX by 2.2% in the fourth quarter. Magnolia Group LLC now owns 3,221,131 shares of the financial services provider's stock worth $34,369,000 after buying an additional 70,457 shares during the period. 93.17% of the stock is currently 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.