Sunday, June 26, 2022

RE/MAX Holdings Inc. [RMAX] stock for 882,844 USD was acquired by Peterson Adam K

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. RE/MAX Holdings Inc. shares valued at $882,844 were purchased by Peterson Adam K on Jun 16. At $21.94 per share, Peterson Adam K acquired 40,239 shares. The insider’s holdings grew to 2,008,492 shares worth approximately $46.4 million following the completion of this transaction.

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As published in a research note from Morgan Stanley on September 22, 2021, RE/MAX Holdings Inc. [RMAX] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $33.50 from $40. This represents a 31.04% premium over Wednesday’s closing price. Analysts at Berenberg started covering the stock with ‘”a Buy”‘ outlook in a report released in late July. As of March 01, 2021, Compass Point has decreased its “Buy” rating to a “Neutral” for RMAX. Earlier on December 21, 2020, JP Morgan upgraded its rating. Their new recommendation was “a Neutral” for RMAX stock which previously was a “an Underweight”.

Analyzing RMAX’s Price Performance

On Wednesday, RE/MAX Holdings Inc. [NYSE: RMAX] rose 1.72% to $23.10. The stock’s lowest price that day was $22.44, but it reached a high of $23.27 in the same session. During the last five days, there has been a surge of approximately 2.58%. Over the course of the year, RE/MAX Holdings Inc. shares have dropped approximately -24.24%. Shares of the company reached a 52-week high of $31.91 on 01/13/22 and a 52-week low of $21.48 on 05/10/22. A 50-day SMA is recorded $23.98, while a 200-day SMA reached $28.56. Nevertheless, trading volume fell to 0.1 million shares from 0.13 million shares the previous day.

Support And Resistance Levels for RE/MAX Holdings Inc. (RMAX)

According to the 24-hour chart, there is a support level at 22.60, which, if violated, would cause prices to drop to 22.11. In the upper region, resistance lies at 23.43. The next price resistance is at 23.77. RSI (Relative Strength Index) is 46.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.84, which suggests the price will decrease in the coming days. Percent R is at 52.81%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is RE/MAX Holdings Inc. subject to short interest?

Stocks of RE/MAX Holdings Inc. saw a sharp steep in short interest on Apr 28, 2022 dropping by 25380.0 shares to 0.5 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 0.53 million shares. A decline of -5.05% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.88 of the overall float, the days-to-cover ratio (short ratio) decline to 3.88.

Which companies own the most shares of RE/MAX Holdings Inc. (RMAX)?

According to BlackRock Fund Advisors filings, the company currently owns 3,155,602 shares, which is about 16.38% of the total RMAX shares outstanding. The investor’s shares have appreciated by 19,891 from its previous 13-F filing of 3135711.0 shares. With the completion of the sale, The Vanguard Group, Inc.’s stake is now worth $53,281,298. The Magnolia Group LLC acquire a 132.96% interest valued at $47.83 million while Renaissance Technologies LLC purchased a 54,500 stake. A total of 35,523 shares of RE/MAX Holdings Inc. were bought by Dimensional Fund Advisors LP during the quarter, and 116,072 were bought by Aureus Asset Management LLC. In its current portfolio, RPD Fund Management LLC holds 788,460 shares valued at $19.16 million.

In terms of RE/MAX Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $30.00 in the next 12 months, up nearly 36.5% from the previous closing price of $22.71. Analysts anticipate RE/MAX Holdings Inc. stock to reach $34.00 by 2022, with the lowest price target being $24.00. In spite of this, 6 analysts ranked RE/MAX Holdings Inc. stock as an Overweight at the end of 2022.

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