Insider Buying: RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Acquires 46,629 Shares of Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam K. Peterson acquired 46,629 shares of the stock in a transaction dated Tuesday, June 18th. The shares were bought at an average cost of $8.30 per share, with a total value of $387,020.70. Following the completion of the purchase, the insider now directly owns 3,084,472 shares in the company, valued at $25,601,117.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

RE/MAX Price Performance

NYSE RMAX opened at $8.36 on Monday. The company’s fifty day simple moving average is $8.14 and its 200-day simple moving average is $9.35. RE/MAX Holdings, Inc. has a 52 week low of $6.94 and a 52 week high of $20.48.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. RE/MAX had a negative net margin of 22.51% and a negative return on equity of 50.09%. The company had revenue of $78.29 million during the quarter, compared to analysts’ expectations of $78.14 million. On average, equities research analysts expect that RE/MAX Holdings, Inc. will post 0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Jonestrading reissued a “hold” rating on shares of RE/MAX in a research report on Friday, March 1st. StockNews.com downgraded shares of RE/MAX from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Keefe, Bruyette & Woods reduced their price target on shares of RE/MAX from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 28th. Stephens dropped 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, Morgan Stanley reduced their target price on shares of RE/MAX from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.60.

Institutional Investors Weigh In On RE/MAX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC increased its position in shares of RE/MAX by 326.8% in the 3rd quarter. Barclays PLC now owns 41,609 shares of the financial services provider’s stock worth $538,000 after purchasing an additional 31,859 shares during the last quarter. Brandywine Global Investment Management LLC raised its stake in RE/MAX by 10.9% during the third quarter. Brandywine Global Investment Management LLC now owns 53,787 shares of the financial services provider’s stock valued at $696,000 after buying an additional 5,301 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in RE/MAX by 195.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 120,170 shares of the financial services provider’s stock worth $1,555,000 after buying an additional 79,476 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of RE/MAX in the 3rd quarter worth approximately $561,000. Finally, Kennedy Capital Management LLC bought a new stake in shares of RE/MAX in the 3rd quarter valued at approximately $278,000. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

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.