RE/MAX (NYSE:RMAX) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

RE/MAX Holdings, Inc. (NYSE:RMAX)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.38 and traded as low as $7.17. RE/MAX shares last traded at $7.28, with a volume of 248,383 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on RMAX shares. Weiss Ratings reissued a “sell (d)” rating on shares of RE/MAX in a research report on Wednesday, January 28th. Wall Street Zen upgraded shares of RE/MAX from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, RE/MAX currently has an average rating of “Reduce” and a consensus target price of $9.00.

RE/MAX Stock Performance

The stock’s 50-day moving average price is $7.90 and its two-hundred day moving average price is $8.38. The stock has a market capitalization of $146.01 million, a PE ratio of 11.93 and a beta of 1.25.

Institutional Investors Weigh In On RE/MAX

Several hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new position in shares of RE/MAX during the first quarter valued at $129,000. Empowered Funds LLC grew its position in RE/MAX by 7.1% during the 1st quarter. Empowered Funds LLC now owns 124,913 shares of the financial services provider’s stock valued at $1,046,000 after purchasing an additional 8,318 shares during the last quarter. Jane Street Group LLC increased its stake in RE/MAX by 388.7% during the 1st quarter. Jane Street Group LLC now owns 57,213 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 45,506 shares in the last quarter. Strs Ohio purchased a new position in RE/MAX in the first quarter worth about $30,000. Finally, CWM LLC raised its holdings in RE/MAX by 312.5% in the second quarter. CWM LLC now owns 3,543 shares of the financial services provider’s stock worth $29,000 after buying an additional 2,684 shares during the last quarter. 93.17% of the stock is owned by institutional investors.

RE/MAX Company Profile

RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.

Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.