RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Adam K. Peterson Acquires 2,180 Shares of Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam K. Peterson purchased 2,180 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average cost of $8.03 per share, with a total value of $17,505.40. Following the completion of the acquisition, the insider now directly owns 3,100,652 shares of the company’s stock, valued at approximately $24,898,235.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

RE/MAX Trading Down 1.0 %

Shares of RMAX opened at $8.11 on Friday. RE/MAX Holdings, Inc. has a one year low of $6.94 and a one year high of $20.48. The stock has a 50 day moving average price of $8.24 and a 200 day moving average price of $9.28.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RMAX. Morgan Stanley decreased their price target on RE/MAX from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Wednesday, April 10th. Jonestrading reaffirmed a “hold” rating on shares of RE/MAX in a research note on Friday, March 1st. Finally, Stephens reduced their target price on RE/MAX from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, RE/MAX has an average rating of “Hold” and a consensus price target of $11.60.

Institutional Trading of RE/MAX

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its holdings in RE/MAX by 134.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,433 shares of the financial services provider’s stock valued at $86,000 after buying an additional 3,693 shares in the last quarter. Patron Partners LLC purchased a new stake in RE/MAX in the 1st quarter valued at $93,000. Pinnacle Wealth Planning Services Inc. grew its holdings in RE/MAX by 15.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 12,222 shares of the financial services provider’s stock valued at $107,000 after buying an additional 1,644 shares in the last quarter. SG Americas Securities LLC grew its holdings in RE/MAX by 12.7% in the 1st quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock valued at $114,000 after buying an additional 1,469 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC purchased a new stake in RE/MAX in the 4th quarter valued at $139,000. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

About RE/MAX

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.