RE/MAX Holdings, Inc. (NYSE:RMAX - Get Free Report) major shareholder Adam K. Peterson acquired 2,000 shares of the firm's stock in a transaction dated Thursday, June 20th. The stock was bought at an average price of $8.35 per share, for a total transaction of $16,700.00. Following the completion of the acquisition, the insider now owns 3,086,472 shares in the company, valued at approximately $25,772,041.20. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
RE/MAX Stock Performance
Shares of RMAX opened at $8.18 on Tuesday. RE/MAX Holdings, Inc. has a twelve month low of $6.94 and a twelve month high of $20.48. The firm's fifty day simple moving average is $8.16 and its 200-day simple moving average is $9.33.
RE/MAX (NYSE:RMAX - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. RE/MAX had a negative net margin of 22.51% and a negative return on equity of 50.09%. The business had revenue of $78.29 million for the quarter, compared to analyst estimates of $78.14 million. Sell-side analysts anticipate that RE/MAX Holdings, Inc. will post 0.7 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
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RMAX has been the topic of several recent analyst reports. Jonestrading restated a "hold" rating on shares of RE/MAX in a report on Friday, March 1st. Morgan Stanley decreased their price objective 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. Keefe, Bruyette & Woods reduced 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. Stephens reduced 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. Finally, StockNews.com lowered shares of RE/MAX from a "buy" rating to a "hold" rating in a report on Monday, February 26th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $11.60.
View Our Latest Research Report on RMAX
Institutional Investors Weigh In On RE/MAX
A number of hedge funds and other institutional investors have recently modified their holdings of RMAX. Allspring Global Investments Holdings LLC raised its holdings in shares of RE/MAX by 134.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,433 shares of the financial services provider's stock valued at $86,000 after purchasing an additional 3,693 shares in the last quarter. Patron Partners LLC purchased a new position in shares of RE/MAX in the 1st quarter valued at $93,000. Pinnacle Wealth Planning Services Inc. grew its position in shares of RE/MAX by 15.5% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 12,222 shares of the financial services provider's stock valued at $107,000 after buying an additional 1,644 shares during the last quarter. SG Americas Securities LLC grew its position in shares of RE/MAX by 12.7% in the 1st quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider's stock valued at $114,000 after buying an additional 1,469 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC purchased a new position in shares of RE/MAX in the 4th quarter valued at $139,000. 93.17% of the stock is currently owned by institutional investors and hedge funds.
About RE/MAX
(
Get Free Report)
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.
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