Re Max Holdings Inc (RMAX)’s Stock Formed A Several Months Descending Triangle Pattern

July 17, 2017 - By Darrin Black

Investors sentiment increased to 1.52 in 2016 Q4. Its up 0.55, from 0.97 in 2016Q3. It is positive, as 5 investors sold Re Max Holdings Inc shares while 45 reduced holdings. 23 funds opened positions while 53 raised stakes. 18.23 million shares or 0.44% more from 18.15 million shares in 2016Q3 were reported.
12,655 are owned by Bokf Na. Louisiana State Employees Retirement Sys holds 7,100 shares. Duncker Streett & reported 173 shares or 0% of all its holdings. Independent Port Consultants Inc has 295 shares. Bridgeway Capital Mgmt holds 0.02% of its portfolio in Re Max Holdings Inc (NYSE:RMAX) for 33,068 shares. Bahl And Gaynor invested in 0.02% or 33,945 shares. Credit Suisse Ag reported 19,199 shares. National Bank & Trust Of Mellon holds 345,890 shares. Wells Fargo Mn stated it has 0% of its portfolio in Re Max Holdings Inc (NYSE:RMAX). Tower Ltd Liability Com (Trc) holds 0.01% or 845 shares in its portfolio. Switzerland-based Swiss Bank has invested 0% in Re Max Holdings Inc (NYSE:RMAX). Chicago Equity Ptnrs Ltd Liability Corporation owns 34,670 shares. Hancock Hldg Com accumulated 20,600 shares. Metropolitan Life Ins Ny has invested 0.01% in Re Max Holdings Inc (NYSE:RMAX). Moreover, Manufacturers Life Insur The has 0% invested in Re Max Holdings Inc (NYSE:RMAX).

Since March 2, 2017, it had 0 insider buys, and 3 sales for $352,820 activity. $57,657 worth of Re Max Holdings Inc (NYSE:RMAX) shares were sold by Predovich Daniel J.. $250,541 worth of Re Max Holdings Inc (NYSE:RMAX) was sold by CUNNINGHAM KATHLEEN J on Thursday, March 2. Scoville Adam Lindquist also sold $44,622 worth of Re Max Holdings Inc (NYSE:RMAX) on Wednesday, March 15.

The stock of Re Max Holdings Inc (RMAX) formed a descending triangle with $58.97 target or 3.00 % above today’s $57.25 share price. The 7 months triangle pattern indicates low risk for the $1.02 billion company. If the $58.97 price target is reached, the company will be worth $30.60 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 0.09% or $0.05 during the last trading session, reaching $57.25. About 70,237 shares traded or 14.11% up from the average. Re Max Holdings Inc (NYSE:RMAX) has risen 40.84% since July 17, 2016 and is uptrending. It has outperformed by 24.14% the S&P500.

Re Max Holdings Inc (NYSE:RMAX) Ratings Coverage

Among 6 analysts covering RE/MAX Holdings (NYSE:RMAX), 0 have Buy rating, 1 Sell and 5 Hold. Therefore 0 are positive. RE/MAX Holdings had 7 analyst reports since August 11, 2015 according to SRatingsIntel. The stock of Re Max Holdings Inc (NYSE:RMAX) earned “Market Underperform” rating by JMP Securities on Tuesday, August 11. The stock of Re Max Holdings Inc (NYSE:RMAX) has “Neutral” rating given on Wednesday, March 15 by Wedbush. The rating was downgraded by Bank of America on Friday, June 30 to “Underperform”. The rating was upgraded by JMP Securities on Wednesday, November 18 to “Mkt Perform”. The stock of Re Max Holdings Inc (NYSE:RMAX) has “Market Perform” rating given on Thursday, March 31 by Wood. Morgan Stanley downgraded Re Max Holdings Inc (NYSE:RMAX) on Wednesday, August 19 to “Equal Weight” rating. On Wednesday, August 19 the stock rating was downgraded by Compass Point to “Neutral”.

More recent Re Max Holdings Inc (NYSE:RMAX) news were published by: Prnewswire.com which released: “RE/MAX Agents Once Again Dominate Annual NAHREP Ranking” on June 20, 2017. Also Twst.com published the news titled: “RE/MAX Holdings Inc.: First Half of 2017 Ends with Record Sales, Prices” on July 14, 2017. Bizjournals.com‘s news article titled: “Denver home real estate scorecard for June: Low inventory, homes sell fast” with publication date: July 17, 2017 was also an interesting one.

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