RE/MAX (NYSE:RMAX) Insider Sells $2,400,719.10 in Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) insider Adam Peterson sold 216,281 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $11.10, for a total value of $2,400,719.10. Following the completion of the transaction, the insider owned 982,440 shares of the company’s stock, valued at $10,905,084. This trade represents a 18.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

RE/MAX Price Performance

Shares of RMAX stock opened at $10.81 on Friday. The firm has a market capitalization of $217.69 million, a price-to-earnings ratio of 27.72 and a beta of 1.89. The business has a fifty day moving average of $6.50 and a 200 day moving average of $7.39. RE/MAX Holdings, Inc. has a 1 year low of $5.46 and a 1 year high of $11.62.

RE/MAX (NYSE:RMAX) last issued its 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 company had revenue of $71.14 million during the quarter, compared to analyst estimates of $71.33 million. RE/MAX had a negative return on equity of 73.77% and a net margin of 2.80%. As a group, equities research analysts expect that RE/MAX Holdings, Inc. will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On RE/MAX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its position in RE/MAX by 20.6% during the 4th 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. First Trust Advisors LP grew its position in shares of RE/MAX by 2.3% during the 4th quarter. First Trust Advisors LP now owns 63,406 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 1,446 shares during the period. Campbell & CO Investment Adviser LLC grew its position in shares of RE/MAX by 7.5% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 25,753 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 1,796 shares during the period. Alliancebernstein L.P. grew its position in shares of RE/MAX by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 37,900 shares of the financial services provider’s stock valued at $357,000 after acquiring an additional 2,000 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of RE/MAX by 5.5% during the 3rd quarter. Voya Investment Management LLC now owns 40,816 shares of the financial services provider’s stock valued at $385,000 after acquiring an additional 2,137 shares during the period. 93.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RMAX has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of RE/MAX in a research note on Monday. JonesTrading raised RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 price target on the stock in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, RE/MAX currently has a consensus rating of “Hold” and a consensus target price of $13.80.

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.