RE/MAX Holdings, Inc. (NYSE:RMAX - Get Free Report) major shareholder Adam K. Peterson purchased 2,180 shares of RE/MAX stock in a transaction dated Wednesday, June 26th. The stock was acquired at an average cost of $8.03 per share, with a total value of $17,505.40. Following the completion of the acquisition, the insider now directly owns 3,100,652 shares in the company, valued at $24,898,235.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
RE/MAX Price Performance
NYSE RMAX opened at $8.11 on Friday. RE/MAX Holdings, Inc. has a fifty-two week low of $6.94 and a fifty-two week high of $20.48. The business has a fifty day moving average of $8.24 and a 200-day moving average of $9.28.
RE/MAX (NYSE:RMAX - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. RE/MAX had a negative return on equity of 50.09% and a negative net margin of 22.51%. The company had revenue of $78.29 million during the quarter, compared to analysts' expectations of $78.14 million. Sell-side analysts forecast that RE/MAX Holdings, Inc. will post 0.7 EPS for the current year.
Wall Street Analysts Forecast Growth
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RMAX has been the subject of several recent analyst reports. Stephens reduced their price target on RE/MAX from $10.00 to $9.00 and set an "equal weight" rating for the company in a report on Monday, May 6th. Morgan Stanley reduced their price target on RE/MAX from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Wednesday, April 10th. Finally, Jonestrading reaffirmed a "hold" rating on shares of RE/MAX in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $11.60.
Check Out Our Latest Stock Report on RMAX
Hedge Funds Weigh In On RE/MAX
Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its position in shares of RE/MAX by 134.8% in the fourth 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 during the period. Patron Partners LLC purchased a new stake in shares of RE/MAX in the first quarter valued at $93,000. Pinnacle Wealth Planning Services Inc. grew its position in shares of RE/MAX by 15.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 12,222 shares of the financial services provider's stock valued at $107,000 after purchasing an additional 1,644 shares during the period. SG Americas Securities LLC grew its position in shares of RE/MAX by 12.7% in the first quarter. SG Americas Securities LLC now owns 12,992 shares of the financial services provider's stock valued at $114,000 after purchasing an additional 1,469 shares during the period. Finally, Robertson Stephens Wealth Management LLC purchased a new stake in shares of RE/MAX in the fourth quarter valued at $139,000. 93.17% of the stock is 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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