Insider Selling: RE/MAX (NYSE:RMAX) Major Shareholder 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 on Tuesday, March 31st. The shares were sold at an average price of $5.80, for a total value of $473,819.40. Following the completion of the sale, the insider owned 2,665,643 shares in the company, valued at approximately $15,460,729.40. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

RE/MAX Price Performance

RE/MAX stock traded up $0.05 during mid-day trading on Thursday, hitting $5.71. 178,382 shares of the company’s stock traded hands, compared to its average volume of 221,692. The firm has a 50 day simple moving average of $6.66 and a two-hundred day simple moving average of $7.71. RE/MAX Holdings, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $10.32. The stock has a market cap of $115.00 million, a price-to-earnings ratio of 14.64 and a beta of 1.27.

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

Institutional Trading of RE/MAX

Several institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in RE/MAX during the 1st quarter worth $129,000. Empowered Funds LLC boosted its position in shares of RE/MAX by 7.1% in the first quarter. Empowered Funds LLC now owns 124,913 shares of the financial services provider’s stock valued at $1,046,000 after acquiring an additional 8,318 shares during the period. Jane Street Group LLC boosted its position in shares of RE/MAX by 388.7% in the first quarter. Jane Street Group LLC now owns 57,213 shares of the financial services provider’s stock valued at $479,000 after acquiring an additional 45,506 shares during the period. Strs Ohio acquired a new position in shares of RE/MAX in the first quarter valued at about $30,000. Finally, Geode Capital Management LLC grew its stake in shares of RE/MAX by 2.8% in the second quarter. Geode Capital Management LLC now owns 437,340 shares of the financial services provider’s stock valued at $3,578,000 after acquiring an additional 11,760 shares in the last quarter. 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 investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average 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.