RE/MAX (NYSE:RMAX) Major Shareholder Adam Peterson Sells 61,000 Shares

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam Peterson sold 61,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $5.71, for a total transaction of $348,310.00. Following the sale, the insider owned 2,604,643 shares in the company, valued at $14,872,511.53. The trade was a 2.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

RE/MAX Trading Up 0.9%

Shares of RE/MAX stock opened at $5.71 on Friday. The company has a 50 day moving average of $6.61 and a 200-day moving average of $7.70. The company has a market cap of $115.00 million, a PE ratio of 14.64 and a beta of 1.27. RE/MAX Holdings, Inc. has a 1-year low of $5.46 and a 1-year high of $10.32.

RE/MAX (NYSE:RMAX) last released its earnings results on Thursday, February 19th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. RE/MAX had a negative return on equity of 73.77% and a net margin of 2.80%.The firm had revenue of $71.14 million during the quarter, compared to analysts’ expectations of $71.33 million. Research analysts forecast that RE/MAX Holdings, Inc. will post 0.89 earnings per share for the current year.

Hedge Funds Weigh In On RE/MAX

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of RE/MAX by 95.5% during the third quarter. JPMorgan Chase & Co. now owns 533,201 shares of the financial services provider’s stock valued at $5,028,000 after purchasing an additional 260,416 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in RE/MAX by 166.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 398,707 shares of the financial services provider’s stock valued at $3,760,000 after buying an additional 249,188 shares during the last quarter. Jane Street Group LLC raised its holdings in RE/MAX by 209.6% in the 4th quarter. Jane Street Group LLC now owns 234,829 shares of the financial services provider’s stock valued at $1,782,000 after buying an additional 158,986 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in RE/MAX by 20.0% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 590,380 shares of the financial services provider’s stock worth $5,567,000 after buying an additional 98,241 shares during the period. Finally, Trexquant Investment LP bought a new stake in RE/MAX during the 4th quarter worth approximately $655,000. 93.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of RE/MAX in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Hold rating and one has given 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 price target 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.