Adam Peterson Sells 81,693 Shares of RE/MAX (NYSE:RMAX) Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam Peterson sold 81,693 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $5.80, for a total value of $473,819.40. Following the completion of the transaction, the insider owned 2,665,643 shares of the company’s stock, valued at $15,460,729.40. The trade was a 2.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Stock Up 0.9%

Shares of NYSE:RMAX traded up $0.05 during midday trading on Thursday, reaching $5.71. The company had a trading volume of 178,382 shares, compared to its average volume of 221,692. RE/MAX Holdings, Inc. has a 1-year low of $5.46 and a 1-year high of $10.32. The stock has a market cap of $115.00 million, a PE ratio of 14.64 and a beta of 1.27. The business’s 50 day moving average price is $6.66 and its 200 day moving average price is $7.71.

RE/MAX (NYSE:RMAX) last issued its quarterly earnings results on Thursday, February 19th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.28 by $0.02. The firm 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%. On average, research analysts expect that RE/MAX Holdings, Inc. will post 0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RE/MAX

A number of institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio bought a new position in RE/MAX during the first quarter worth about $30,000. Harbor Capital Advisors Inc. raised its stake in RE/MAX by 20.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 7,698 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,317 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of RE/MAX in the third quarter valued at approximately $95,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of RE/MAX in the fourth quarter valued at approximately $76,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of RE/MAX during the 3rd quarter worth approximately $97,000. 93.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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