RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Adam K. Peterson Purchases 26,000 Shares of Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam K. Peterson bought 26,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were bought at an average cost of $8.03 per share, for a total transaction of $208,780.00. Following the completion of the acquisition, the insider now owns 3,150,152 shares of the company’s stock, valued at $25,295,720.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

RE/MAX Trading Down 0.2 %

Shares of RMAX stock opened at $8.12 on Thursday. The business’s 50 day moving average is $8.30 and its two-hundred day moving average is $9.17. 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 issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $78.29 million for the quarter, compared to the consensus estimate of $78.14 million. RE/MAX had a negative return on equity of 50.09% and a negative net margin of 22.51%. On average, equities analysts predict that RE/MAX Holdings, Inc. will post 0.7 earnings per share for the current year.

Hedge Funds Weigh In On RE/MAX

Several hedge funds and other institutional investors have recently made changes to their positions in RMAX. Allspring Global Investments Holdings LLC lifted its position in shares of RE/MAX by 134.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,433 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 3,693 shares in the last quarter. Patron Partners LLC purchased a new position in shares of RE/MAX in the first quarter valued at approximately $93,000. Pinnacle Wealth Planning Services Inc. lifted its position in shares of RE/MAX by 15.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 12,222 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 1,644 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of RE/MAX by 12.7% in the first quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 1,469 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC purchased a new position in RE/MAX during the fourth quarter worth approximately $139,000. Hedge funds and other institutional investors own 93.17% of the company’s stock.

Analyst Ratings Changes

RMAX has been the topic of several analyst reports. Stephens dropped their target price on RE/MAX from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, May 6th. Morgan Stanley lowered their price target on RE/MAX from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, RE/MAX presently has an average rating of “Hold” and an average price target of $11.60.

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.