RE/MAX Holdings, Inc. (NYSE: RMAX) Major Shareholder Buys $594,370.00 in Stock


RE/MAX Holdings, Inc. (NYSE: RMAXGet a rating) major shareholder Adam K. Peterson acquired 24,500 shares in a transaction dated Thursday, June 30. The shares were purchased at an average cost of $24.26 per share, with a total value of $594,370.00. Following the completion of the purchase, the insider now owns 2,088,609 shares of the company, valued at approximately $50,669,654.34. The purchase was disclosed in a legal filing with the SEC, accessible via this hyperlink. Large shareholders who own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

RMAX stock opened at $25.04 on Friday. RE/MAX Holdings, Inc. has a 1-year low of $21.48 and a 1-year high of $35.34. The company has a market capitalization of $482.42 million, a P/E ratio of -30.17 and a beta of 1.40. The company has a 50-day moving average of $23.66 and a 200-day moving average of $27.14. The company has a debt ratio of 6.40, a current ratio of 1.95 and a quick ratio of 1.95.

RE/MAX (NYSE: RMAXGet a rating) last released its quarterly results on Thursday, April 28. The financial services provider reported earnings per share (EPS) of $0.37 for the quarter, beating analyst consensus estimates of $0.29 by $0.08. RE/MAX had a negative net margin of 4.42% and a positive return on equity of 68.84%. The company had revenue of $91.00 million in the quarter, versus a consensus estimate of $90.77 million. In the same period a year earlier, the company earned earnings per share of $0.18. RE/MAX revenues increased 25.9% year over year. On average, equity research analysts expect RE/MAX Holdings, Inc. to post earnings per share of 1.89 for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 25. Shareholders of record on Wednesday, May 11 received a dividend of $0.23 per share. This represents a dividend of $0.92 on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Tuesday, May 10. RE/MAX’s payout ratio is -110.84%.

Several brokerages have recently commented on RMAX. Morgan Stanley lowered its price target on RE/MAX shares from $30.50 to $28.50 and set an “equal weight” rating for the company in a Wednesday, March 9 research note. StockNews.com purported coverage of RE/MAX shares in a Thursday, March 31 research note. They set a “holding” rating for the company.

Several hedge funds and other institutional investors have recently changed their positions in RMAX. Captrust Financial Advisors increased its stake in RE/MAX shares by 115.0% during the first quarter. Captrust Financial Advisors now owns 1,017 shares of the financial services provider valued at $28,000 after buying an additional 544 shares in the last quarter. Lazard Asset Management LLC increased its stake in RE/MAX shares by 76.0% during the fourth quarter. Lazard Asset Management LLC now owns 2,165 shares of the financial services provider valued at $66,000 after buying an additional 935 shares last quarter. Clearstead Advisors LLC purchased a new equity stake in RE/MAX during the first quarter valued at approximately $72,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in RE/MAX shares by 143.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,708 shares of the financial services provider valued at $83,000 after acquiring an additional 1,594 shares last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new equity stake in RE/MAX during the first quarter valued at approximately $210,000. 94.37% of the shares are held by institutional investors and hedge funds.

About RE/MAX (Get a rating)

RE/MAX Holdings, Inc. operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada and internationally. The Company operates through three segments: Real Estate, Mortgages and Marketing Funds. It offers franchise real estate brokerage 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 processing software and services under the wemlo brand.

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