Adam Peterson Sells 61,000 Shares of RE/MAX (NYSE:RMAX) 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 stock was sold at an average price of $5.71, for a total value of $348,310.00. Following the sale, the insider owned 2,604,643 shares in the company, valued at $14,872,511.53. This represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 0.2%

RE/MAX stock opened at $5.71 on Friday. 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 $115.01 million, a P/E ratio of 14.64 and a beta of 1.27. The stock has a 50 day moving average of $6.57 and a 200-day moving average of $7.67.

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, topping analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $71.14 million during the quarter, compared to analyst estimates of $71.33 million. RE/MAX had a net margin of 2.80% and a negative return on equity of 73.77%. As a group, equities analysts predict that RE/MAX Holdings, Inc. will post 0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RE/MAX

A number of institutional investors have recently made changes to their positions in the company. Strs Ohio acquired a new stake in shares of RE/MAX during the 1st quarter valued at approximately $30,000. Harbor Capital Advisors Inc. boosted its holdings in RE/MAX by 20.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 7,698 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,317 shares during the period. IFC & Insurance Marketing Inc. bought a new stake in RE/MAX during the fourth quarter valued at $76,000. Sei Investments Co. acquired a new stake in shares of RE/MAX during the second quarter worth $86,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of RE/MAX during the third quarter worth $95,000. 93.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings restated 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $9.00.

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.