Insider Selling: RE/MAX (NYSE:RMAX) Insider Sells $6,219,775.44 in Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) insider Adam Peterson sold 632,091 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $9.84, for a total transaction of $6,219,775.44. Following the completion of the transaction, the insider owned 1,691,727 shares in the company, valued at $16,646,593.68. The trade was a 27.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

RE/MAX Price Performance

Shares of NYSE RMAX opened at $10.81 on Friday. RE/MAX Holdings, Inc. has a 1 year low of $5.46 and a 1 year high of $11.62. The company’s 50-day moving average is $6.50 and its 200 day moving average is $7.39. 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 (NYSE:RMAX) last announced its quarterly earnings results on Thursday, February 19th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. RE/MAX had a net margin of 2.80% and a negative return on equity of 73.77%. The company had revenue of $71.14 million for the quarter, compared to analysts’ expectations of $71.33 million. Research analysts anticipate that RE/MAX Holdings, Inc. will post 0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. JonesTrading raised shares of RE/MAX from a “hold” rating to a “buy” rating and set a $13.80 price objective on the stock in a research note on Monday, April 27th. Weiss Ratings reissued a “sell (d)” rating on shares of RE/MAX in a research note on Monday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, RE/MAX has a consensus rating of “Hold” and an average target price of $13.80.

Institutional Investors Weigh In On RE/MAX

Several hedge funds have recently bought and sold shares of the business. Hillsdale Investment Management Inc. boosted its stake in RE/MAX by 20.0% during the third quarter. Hillsdale Investment Management Inc. now owns 590,380 shares of the financial services provider’s stock worth $5,567,000 after acquiring an additional 98,241 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in RE/MAX by 95.5% during the third quarter. JPMorgan Chase & Co. now owns 533,201 shares of the financial services provider’s stock worth $5,028,000 after acquiring an additional 260,416 shares in the last quarter. Geode Capital Management LLC boosted its stake in RE/MAX by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 462,742 shares of the financial services provider’s stock worth $3,513,000 after acquiring an additional 12,372 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in RE/MAX by 166.7% during the third quarter. Russell Investments Group Ltd. now owns 398,707 shares of the financial services provider’s stock worth $3,760,000 after acquiring an additional 249,188 shares in the last quarter. Finally, Nuveen LLC lifted its stake in shares of RE/MAX by 23.1% in the fourth quarter. Nuveen LLC now owns 307,771 shares of the financial services provider’s stock worth $2,336,000 after buying an additional 57,760 shares in the last quarter. 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.