Adam K. Peterson Purchases 2,180 Shares of RE/MAX Holdings, Inc. (NYSE:RMAX) Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam K. Peterson bought 2,180 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were acquired at an average price of $8.03 per share, for a total transaction of $17,505.40. Following the transaction, the insider now directly owns 3,100,652 shares in the company, valued at $24,898,235.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

RE/MAX Stock Down 1.1 %

Shares of RMAX opened at $8.10 on Friday. RE/MAX Holdings, Inc. has a 52-week low of $6.94 and a 52-week high of $20.48. The stock has a fifty day simple moving average of $8.24 and a two-hundred day simple moving average of $9.27.

RE/MAX (NYSE:RMAX) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $0.08 earnings per share (EPS) 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 business had revenue of $78.29 million during the quarter, compared to the consensus estimate of $78.14 million. As a group, research analysts predict that RE/MAX Holdings, Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Morgan Stanley reduced their price objective on RE/MAX from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, April 10th. Stephens reduced their price objective on RE/MAX from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.60.

Institutional Trading of RE/MAX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of RE/MAX by 134.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,433 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 3,693 shares during the last quarter. Robertson Stephens Wealth Management LLC acquired a new stake in shares of RE/MAX during the 4th quarter worth about $139,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of RE/MAX during the 4th quarter worth about $141,000. Patron Partners LLC acquired a new stake in shares of RE/MAX during the 1st quarter worth about $93,000. Finally, SG Americas Securities LLC increased its position in shares of RE/MAX by 22.8% during the 4th quarter. SG Americas Securities LLC now owns 11,523 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 2,136 shares during the last quarter. 93.17% of the stock is owned by institutional investors and hedge funds.

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.