Insider Buying: RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Acquires $16,700.00 in Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam K. Peterson purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $8.35 per share, with a total value of $16,700.00. Following the purchase, the insider now directly owns 3,086,472 shares of the company’s stock, valued at $25,772,041.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

RE/MAX Stock Up 2.5 %

Shares of RE/MAX stock opened at $8.22 on Thursday. The firm’s fifty day simple moving average is $8.20 and its 200-day simple moving average is $9.31. RE/MAX Holdings, Inc. has a 12 month low of $6.94 and a 12 month high of $20.48.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $78.29 million for the quarter, compared to analysts’ expectations of $78.14 million. RE/MAX had a negative net margin of 22.51% and a negative return on equity of 50.09%. Equities analysts predict that RE/MAX Holdings, Inc. will post 0.7 EPS for the current year.

Analyst Upgrades and Downgrades

RMAX has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of RE/MAX from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, April 10th. Jonestrading reiterated a “hold” rating on shares of RE/MAX in a research note on Friday, March 1st. Stephens reduced their price objective on shares of RE/MAX from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, May 6th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of RE/MAX from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.60.

Hedge Funds Weigh In On RE/MAX

A number of institutional investors have recently modified their holdings of the business. Magnolia Group LLC increased its holdings in shares of RE/MAX by 1.8% in the 1st quarter. Magnolia Group LLC now owns 3,037,843 shares of the financial services provider’s stock valued at $26,642,000 after acquiring an additional 54,000 shares during the period. Vanguard Group Inc. increased its stake in RE/MAX by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 1,121,789 shares of the financial services provider’s stock valued at $9,838,000 after buying an additional 94,758 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in RE/MAX by 46.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,057,780 shares of the financial services provider’s stock valued at $14,100,000 after buying an additional 334,290 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in RE/MAX by 107.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider’s stock valued at $2,560,000 after buying an additional 151,036 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in RE/MAX by 17.2% in the 1st quarter. Russell Investments Group Ltd. now owns 227,103 shares of the financial services provider’s stock valued at $1,992,000 after buying an additional 33,351 shares during the period. 93.17% of the stock is owned by institutional investors and hedge funds.

RE/MAX Company Profile

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