RE/MAX (NYSE:RMAX) Major Shareholder Sells $348,310.00 in Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam Peterson sold 61,000 shares of RE/MAX stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $5.71, for a total transaction of $348,310.00. Following the completion of the transaction, the insider directly owned 2,604,643 shares in the company, valued at $14,872,511.53. This trade represents a 2.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

RE/MAX Trading Up 0.9%

NYSE RMAX traded up $0.05 on Thursday, hitting $5.71. 178,382 shares of the company’s stock were exchanged, compared to its average volume of 221,692. The stock has a 50-day moving average of $6.66 and a 200-day moving average of $7.71. RE/MAX Holdings, Inc. has a 52 week low of $5.46 and a 52 week high of $10.32. The stock has a market cap of $115.00 million, a price-to-earnings ratio of 14.64 and a beta of 1.27.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings results on Thursday, February 19th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. RE/MAX had a negative return on equity of 73.77% and a net margin of 2.80%.The company had revenue of $71.14 million for the quarter, compared to analyst estimates of $71.33 million. As a group, analysts predict that RE/MAX Holdings, Inc. will post 0.89 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of RE/MAX in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $9.00.

Institutional Investors Weigh In On RE/MAX

Several hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in RE/MAX during the 1st quarter worth $129,000. Empowered Funds LLC raised its position in RE/MAX by 7.1% in the first quarter. Empowered Funds LLC now owns 124,913 shares of the financial services provider’s stock valued at $1,046,000 after purchasing an additional 8,318 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of RE/MAX by 388.7% during the first quarter. Jane Street Group LLC now owns 57,213 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 45,506 shares in the last quarter. Strs Ohio acquired a new stake in shares of RE/MAX during the first quarter valued at about $30,000. Finally, Geode Capital Management LLC grew its holdings in shares of RE/MAX by 2.8% during the second quarter. Geode Capital Management LLC now owns 437,340 shares of the financial services provider’s stock worth $3,578,000 after purchasing an additional 11,760 shares during the last quarter. Institutional investors and hedge funds own 93.17% of the company’s stock.

About RE/MAX

RE/MAX Holdings, Inc (NYSE:RMAX) is a global franchisor of real estate brokerage services, offering residential and commercial property transaction support through a network of independently owned and operated offices. The company provides marketing, training, technology platforms and brand recognition for its affiliated agents, facilitating property buying, selling and leasing activities. In addition to core brokerage services, RE/MAX offers ancillary solutions such as mortgage referral, title and escrow coordination, relocation assistance and luxury market specialization.

Established in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX pioneered a high-commission, agent-driven model designed to attract experienced real estate professionals.