Adam Peterson Sells 493,006 Shares of RE/MAX (NYSE:RMAX) Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) insider Adam Peterson sold 493,006 shares of RE/MAX stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $10.97, for a total transaction of $5,408,275.82. Following the completion of the transaction, the insider owned 1,198,721 shares in the company, valued at $13,149,969.37. This trade represents a 29.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

RE/MAX Trading Down 2.1%

RMAX traded down $0.23 during trading on Wednesday, hitting $11.06. The stock had a trading volume of 1,491,073 shares, compared to its average volume of 475,984. The firm has a market cap of $222.71 million, a PE ratio of 28.35 and a beta of 1.27. RE/MAX Holdings, Inc. has a 12 month low of $5.46 and a 12 month high of $11.62. The company has a 50 day simple moving average of $6.34 and a 200-day simple moving average of $7.34.

RE/MAX (NYSE:RMAX) last announced its earnings results on Thursday, February 19th. The financial services provider reported $0.30 EPS for the quarter, topping 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%. As a group, sell-side analysts anticipate that RE/MAX Holdings, Inc. will post 0.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RMAX has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of RE/MAX in a report on Monday. JonesTrading upgraded shares of 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. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.80.

Institutional Trading of RE/MAX

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. DGS Capital Management LLC grew its position in RE/MAX by 51.8% in the 1st quarter. DGS Capital Management LLC now owns 30,097 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 10,270 shares during the last quarter. Aaron Wealth Advisors LLC acquired a new stake in RE/MAX in the 1st quarter worth $84,000. SG Americas Securities LLC grew its position in RE/MAX by 19.9% in the 1st quarter. SG Americas Securities LLC now owns 18,244 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 3,032 shares during the last quarter. Empowered Funds LLC grew its position in RE/MAX by 10.4% in the 4th 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 last quarter. Finally, XTX Topco Ltd acquired a new stake in RE/MAX in the 4th quarter worth $161,000. 93.17% of the stock is currently owned by institutional investors and hedge funds.

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.