Adam Peterson Sells 61,000 Shares of RE/MAX (NYSE:RMAX) Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam Peterson sold 61,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $5.71, for a total value of $348,310.00. Following the sale, the insider owned 2,604,643 shares of the company’s stock, valued at approximately $14,872,511.53. This represents a 2.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

RE/MAX Stock Up 0.9%

Shares of RE/MAX stock traded up $0.05 on Thursday, hitting $5.71. The stock had a trading volume of 178,382 shares, compared to its average volume of 221,692. 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 Holdings, Inc. has a twelve month low of $5.46 and a twelve month high of $10.32. The business’s 50 day moving average is $6.66 and its two-hundred day moving average is $7.71.

RE/MAX (NYSE:RMAX) last released its quarterly earnings results on Thursday, February 19th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. The business had revenue of $71.14 million during the quarter, compared to analysts’ expectations 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 analysts predict that RE/MAX Holdings, Inc. will post 0.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC lifted its position in RE/MAX by 10.4% during the fourth quarter. Empowered Funds LLC now owns 170,338 shares of the financial services provider’s stock worth $1,293,000 after purchasing an additional 16,037 shares during the period. XTX Topco Ltd bought a new position in RE/MAX in the 4th quarter valued at about $161,000. Tudor Investment Corp ET AL bought a new position in RE/MAX in the 4th quarter valued at about $379,000. Odyssean LLC acquired a new position in shares of RE/MAX in the 4th quarter valued at approximately $107,000. Finally, Millennium Management LLC raised its position in shares of RE/MAX by 21.7% in the 4th quarter. Millennium Management LLC now owns 152,439 shares of the financial services provider’s stock valued at $1,157,000 after buying an additional 27,149 shares in the last quarter. Institutional investors and hedge funds own 93.17% of the company’s stock.

Analyst Upgrades and Downgrades

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