Insider Selling: RE/MAX (NYSE:RMAX) Major Shareholder Sells $348,310.00 in Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam Peterson sold 61,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $5.71, for a total transaction of $348,310.00. Following the transaction, the insider directly owned 2,604,643 shares of the company’s stock, valued at $14,872,511.53. This represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

RE/MAX Trading Down 0.2%

Shares of RMAX opened at $5.71 on Friday. The stock’s 50 day moving average is $6.57 and its two-hundred day moving average is $7.66. RE/MAX Holdings, Inc. has a twelve month low of $5.46 and a twelve month high of $10.32. The firm has a market capitalization of $115.00 million, a PE ratio of 14.64 and a beta of 1.27.

RE/MAX (NYSE:RMAX) last issued its earnings results on Thursday, February 19th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $71.14 million during the quarter, compared to the consensus estimate of $71.33 million. RE/MAX had a negative return on equity of 73.77% and a net margin of 2.80%. On average, sell-side analysts predict that RE/MAX Holdings, Inc. will post 0.89 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of RE/MAX in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $9.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RMAX. Strs Ohio acquired a new stake in shares of RE/MAX during the 1st quarter valued at approximately $30,000. Harbor Capital Advisors Inc. grew its holdings in shares of RE/MAX by 20.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 7,698 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 1,317 shares during the period. IFC & Insurance Marketing Inc. acquired a new stake in shares of RE/MAX in the 4th quarter worth approximately $76,000. Sei Investments Co. purchased a new position in RE/MAX in the 2nd quarter valued at approximately $86,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in RE/MAX in the 3rd quarter valued at approximately $95,000. 93.17% of the stock is owned by hedge funds and other institutional investors.

RE/MAX Company Profile

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.