RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Buys $387,020.70 in Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam K. Peterson bought 46,629 shares of the stock in a transaction dated Tuesday, June 18th. The stock was purchased at an average cost of $8.30 per share, for a total transaction of $387,020.70. Following the acquisition, the insider now owns 3,084,472 shares of the company’s stock, valued at $25,601,117.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Up 2.5 %

Shares of NYSE RMAX opened at $8.22 on Thursday. The firm has a 50-day moving average price of $8.20 and a 200 day moving average price of $9.31. 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 announced its 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 during the quarter, compared to analysts’ expectations of $78.14 million. RE/MAX had a negative net margin of 22.51% and a negative return on equity of 50.09%. Analysts anticipate that RE/MAX Holdings, Inc. will post 0.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Stephens lowered their target price on shares of RE/MAX from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, May 6th. Keefe, Bruyette & Woods lowered their target price on shares of RE/MAX from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Wednesday, February 28th. Morgan Stanley lowered 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. Finally, Jonestrading reiterated a “hold” rating on shares of RE/MAX in a research note on Friday, March 1st. Two equities research 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 a consensus rating of “Hold” and a consensus price target of $11.60.

Hedge Funds Weigh In On RE/MAX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMAX. Magnolia Group LLC raised its position in RE/MAX by 13.7% during the fourth quarter. Magnolia Group LLC now owns 2,983,843 shares of the financial services provider’s stock worth $39,775,000 after acquiring an additional 358,736 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of RE/MAX by 46.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,057,780 shares of the financial services provider’s stock valued at $14,100,000 after buying an additional 334,290 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of RE/MAX in the fourth quarter valued at approximately $2,583,000. Jacobs Levy Equity Management Inc. raised its position in shares of RE/MAX by 107.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider’s stock valued at $2,560,000 after buying an additional 151,036 shares during the last quarter. Finally, Blair William & Co. IL raised its position in shares of RE/MAX by 767.5% in the first quarter. Blair William & Co. IL now owns 109,611 shares of the financial services provider’s stock valued at $961,000 after buying an additional 96,976 shares during the last quarter. Institutional investors and hedge funds own 93.17% of the company’s stock.

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.