Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. RE/MAX Holdings Inc shares valued at $412,560 were purchased by Peterson Adam K on Mar 18 ’24. At $7.64 per share, Peterson Adam K acquired 54,000 shares. The insider’s holdings grew to 3,037,843 shares worth approximately $23.39 million following the completion of this transaction.
Also, Winders Susan L sold 4,299 shares, netting a total of over 36,198 in proceeds. Following the sale of shares at $8.42 each, the insider now holds 108,251 shares.
Before that, Lee Abigail C. had sold 4,500 shares from its account. In a trade valued at $38,288, the EVP, MARKETING, COMMS, EVENTS traded RE/MAX Holdings Inc shares for $8.51 each. Upon closing the transaction, the insider’s holdings decreased to 4,500 shares, worth approximately $0.69 million.
As published in a research note from JP Morgan on December 18, 2023, RE/MAX Holdings Inc [RMAX] has been rated down from a Neutral to an Underweight and the price target has been revised to $14 from $16. Analysts at Morgan Stanley downgraded the stock from ‘”an Equal-weight”‘ to ‘”an Underweight”‘ outlook in a report released in early November. As of July 18, 2023, BTIG Research has initiated its “Neutral” rating for RMAX. Earlier on February 21, 2023, Stephens downgraded its rating. Their new recommendation was “an Equal-weight” for RMAX stock which previously was a “an Overweight”.
Analyzing RMAX Stock Performance
During the last five days, there has been a drop of approximately -6.44%. Over the course of the year, RE/MAX Holdings Inc shares have dropped approximately -42.24%. Shares of the company reached a 52-week high of $13.25 on 01/02/24 and a 52-week low of $7.24 on 03/20/24. A 50-day SMA is recorded $8.75, while a 200-day SMA reached $12.67. Nevertheless, trading volume fell to 0.57 million shares from 0.22 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 7.40, which, if violated, would cause prices to drop to 7.11. In the upper region, resistance lies at 7.89. The next price resistance is at 8.09. RSI (Relative Strength Index) is 43.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.09, which suggests the price will decrease in the coming days. Percent R is at 77.53%, indicating bearish 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 rise in short interest on Mar 15, 2024 jumping by 0.77 million shares to 1.21 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 0.44 million shares. A jump of 63.59% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.43 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.43.
