Insider Buying: RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Purchases 27,366 Shares of Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam K. Peterson bought 27,366 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $10.96 per share, for a total transaction of $299,931.36. Following the acquisition, the insider now owns 3,178,040 shares of the company’s stock, valued at $34,831,318.40. This trade represents a 0.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

RE/MAX Stock Performance

RE/MAX stock opened at $11.61 on Friday. The firm’s fifty day moving average price is $12.09 and its 200-day moving average price is $10.24. RE/MAX Holdings, Inc. has a fifty-two week low of $6.94 and a fifty-two week high of $13.70. The stock has a market cap of $219.10 million, a P/E ratio of -21.50 and a beta of 1.36.

Hedge Funds Weigh In On RE/MAX

A number of large investors have recently modified their holdings of the company. nVerses Capital LLC grew its holdings in shares of RE/MAX by 566.7% in the third quarter. nVerses Capital LLC now owns 2,000 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,700 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of RE/MAX by 19,729.6% during the second quarter. Nisa Investment Advisors LLC now owns 5,354 shares of the financial services provider’s stock valued at $43,000 after buying an additional 5,327 shares during the period. Quest Partners LLC bought a new position in RE/MAX in the third quarter worth $106,000. SG Americas Securities LLC lifted its holdings in shares of RE/MAX by 12.7% during 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 last quarter. Finally, Quantinno Capital Management LP bought a new position in RE/MAX during the 3rd quarter valued at approximately $135,000. 93.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on RMAX. Stephens boosted their price target on shares of RE/MAX from $9.00 to $10.50 and gave the company an “equal weight” rating in a research note on Monday, August 12th. StockNews.com lowered RE/MAX from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.38.

About RE/MAX

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.