RE/MAX (NYSE:RMAX) Major Shareholder Adam Peterson Sells 81,693 Shares of Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam Peterson sold 81,693 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $5.80, for a total transaction of $473,819.40. Following the completion of the transaction, the insider owned 2,665,643 shares in the company, valued at $15,460,729.40. This trade represents a 2.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

RE/MAX Trading Up 0.9%

Shares of NYSE RMAX opened at $5.71 on Friday. RE/MAX Holdings, Inc. has a 12-month low of $5.46 and a 12-month high of $10.32. The firm has a market capitalization of $115.00 million, a price-to-earnings ratio of 14.64 and a beta of 1.27. The firm has a 50 day moving average of $6.61 and a 200 day moving average of $7.70.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, February 19th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $71.14 million for the quarter, compared to analysts’ expectations of $71.33 million. Sell-side analysts predict that RE/MAX Holdings, Inc. will post 0.89 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of RE/MAX in a report on Wednesday, January 28th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, RE/MAX has an average rating of “Reduce” and a consensus target price of $9.00.

Hedge Funds Weigh In On RE/MAX

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hillsdale Investment Management Inc. grew its position in shares of RE/MAX by 20.0% during the third quarter. Hillsdale Investment Management Inc. now owns 590,380 shares of the financial services provider’s stock valued at $5,567,000 after purchasing an additional 98,241 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of RE/MAX by 95.5% in the third quarter. JPMorgan Chase & Co. now owns 533,201 shares of the financial services provider’s stock worth $5,028,000 after buying an additional 260,416 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of RE/MAX in the second quarter worth about $86,000. IFC & Insurance Marketing Inc. bought a new position in RE/MAX during the fourth quarter valued at approximately $76,000. Finally, Strs Ohio purchased a new position in RE/MAX during the 1st quarter valued at approximately $30,000. Institutional investors own 93.17% of the company’s stock.

RE/MAX Company Profile

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.