RE/MAX (NYSE:RMAX) Stock Passes Below 200-Day Moving Average of $18.24

RE/MAX Holdings, Inc. (NYSE:RMAX) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.24 and traded as low as $14.24. RE/MAX shares last traded at $14.46, with a volume of 3,748,956 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com raised RE/MAX from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Jonestrading restated a “buy” rating and issued a $22.00 target price on shares of RE/MAX in a report on Friday, August 4th. BTIG Research began coverage on shares of RE/MAX in a research note on Monday, July 17th. They set a “neutral” rating for the company. Finally, Stephens reissued an “equal weight” rating and issued a $21.00 target price on shares of RE/MAX in a report on Monday, August 21st.

RE/MAX Stock Down 5.5 %

The company has a debt-to-equity ratio of 18.39, a current ratio of 2.54 and a quick ratio of 2.54. The company has a 50-day moving average of $17.82 and a two-hundred day moving average of $18.24. The company has a market capitalization of $262.16 million, a PE ratio of -240.96 and a beta of 1.50.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. RE/MAX had a positive return on equity of 107.26% and a negative net margin of 0.33%. The business had revenue of $82.45 million during the quarter, compared to the consensus estimate of $82.02 million. Sell-side analysts anticipate that RE/MAX Holdings, Inc. will post 0.93 earnings per share for the current fiscal year.

RE/MAX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend was Monday, August 14th. RE/MAX’s payout ratio is -1,533.08%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RMAX. Legal & General Group Plc lifted its holdings in shares of RE/MAX by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 44,992 shares of the financial services provider’s stock valued at $1,104,000 after purchasing an additional 408 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of RE/MAX by 3.1% during the second quarter. JPMorgan Chase & Co. now owns 16,357 shares of the financial services provider’s stock valued at $401,000 after acquiring an additional 491 shares in the last quarter. Captrust Financial Advisors boosted its stake in RE/MAX by 115.0% in the 1st quarter. Captrust Financial Advisors now owns 1,017 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 544 shares in the last quarter. Barclays PLC grew its position in RE/MAX by 6.1% during the 2nd quarter. Barclays PLC now owns 9,750 shares of the financial services provider’s stock worth $188,000 after purchasing an additional 560 shares during the last quarter. Finally, Amalgamated Bank grew its stake in RE/MAX by 7.5% during the 1st quarter. Amalgamated Bank now owns 8,178 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

About RE/MAX

RE/MAX Holdings, Inc operates as a franchisor of real estate and mortgage 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.