Insider Selling: RE/MAX (NYSE:RMAX) Insider Sells $5,408,275.82 in Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) insider Adam Peterson sold 493,006 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $10.97, for a total value of $5,408,275.82. Following the sale, the insider owned 1,198,721 shares of the company’s stock, valued at $13,149,969.37. The trade was a 29.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

RE/MAX Stock Performance

Shares of NYSE:RMAX opened at $10.81 on Friday. The stock has a market capitalization of $217.69 million, a P/E ratio of 27.72 and a beta of 1.89. RE/MAX Holdings, Inc. has a 1 year low of $5.46 and a 1 year high of $11.62. The stock has a 50-day simple moving average of $6.50 and a 200-day simple moving average of $7.39.

RE/MAX (NYSE:RMAX) last released its quarterly earnings results on Thursday, February 19th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Analysts predict that RE/MAX Holdings, Inc. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on RMAX. JonesTrading upgraded RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 price target for the company in a report on Monday, April 27th. Weiss Ratings restated a “sell (d)” rating on shares of RE/MAX in a report on Monday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.80.

Hedge Funds Weigh In On RE/MAX

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. boosted its holdings in 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. First Trust Advisors LP boosted its stake in shares of RE/MAX by 2.3% during the 4th quarter. First Trust Advisors LP now owns 63,406 shares of the financial services provider’s stock valued at $481,000 after buying an additional 1,446 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in shares of RE/MAX by 7.5% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 25,753 shares of the financial services provider’s stock valued at $195,000 after buying an additional 1,796 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of RE/MAX by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 37,900 shares of the financial services provider’s stock valued at $357,000 after buying an additional 2,000 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of RE/MAX by 5.5% during the 3rd quarter. Voya Investment Management LLC now owns 40,816 shares of the financial services provider’s stock valued at $385,000 after buying an additional 2,137 shares during the last quarter. Hedge funds and other institutional investors own 93.17% of the company’s stock.

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.