Adam K. Peterson Purchases 2,000 Shares of RE/MAX Holdings, Inc. (NYSE:RMAX) Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam K. Peterson acquired 2,000 shares of RE/MAX stock in a transaction on Thursday, June 20th. The shares were purchased at an average cost of $8.35 per share, for a total transaction of $16,700.00. Following the acquisition, the insider now owns 3,086,472 shares in the company, valued at approximately $25,772,041.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

RE/MAX Price Performance

RE/MAX stock opened at $8.02 on Wednesday. The company’s 50 day simple moving average is $8.18 and its 200 day simple moving average is $9.31. RE/MAX Holdings, Inc. has a fifty-two week low of $6.94 and a fifty-two week high of $20.48.

RE/MAX (NYSE:RMAX) last announced 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 net margin of 22.51% and a negative return on equity of 50.09%. The company had revenue of $78.29 million for the quarter, compared to analysts’ expectations of $78.14 million. Equities research analysts predict that RE/MAX Holdings, Inc. will post 0.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMAX. Allspring Global Investments Holdings LLC raised its position in shares of RE/MAX by 134.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,433 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 3,693 shares during the period. Robertson Stephens Wealth Management LLC acquired a new stake in RE/MAX during the 4th quarter worth approximately $139,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in RE/MAX during the 4th quarter worth approximately $141,000. Patron Partners LLC acquired a new position in shares of RE/MAX in the first quarter valued at approximately $93,000. Finally, SG Americas Securities LLC increased its position in shares of RE/MAX by 22.8% during the fourth quarter. SG Americas Securities LLC now owns 11,523 shares of the financial services provider’s stock worth $154,000 after acquiring an additional 2,136 shares in the last quarter. 93.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RMAX has been the topic of several recent research reports. Jonestrading reiterated a “hold” rating on shares of RE/MAX in a report on Friday, March 1st. Stephens lowered their price target on shares of RE/MAX from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, May 6th. Morgan Stanley cut 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. Finally, Keefe, Bruyette & Woods lowered their target price on shares of RE/MAX from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.60.

RE/MAX Company Profile

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.