RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Buys 13,636 Shares

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam K. Peterson acquired 13,636 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $10.45 per share, for a total transaction of $142,496.20. Following the purchase, the insider now directly owns 3,221,131 shares of the company’s stock, valued at approximately $33,660,818.95. This trade represents a 0.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

RE/MAX Price Performance

RMAX stock opened at $10.61 on Friday. The firm has a market cap of $200.23 million, a PE ratio of -19.65 and a beta of 1.38. RE/MAX Holdings, Inc. has a 12 month low of $6.94 and a 12 month high of $14.31. The firm has a 50 day simple moving average of $11.92 and a 200 day simple moving average of $10.98.

Analysts Set New Price Targets

Separately, StockNews.com upgraded RE/MAX from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $9.17.

Institutional Investors Weigh In On RE/MAX

A number of institutional investors and hedge funds have recently modified their holdings of RMAX. Bank of New York Mellon Corp raised its position in shares of RE/MAX by 23.2% during the second quarter. Bank of New York Mellon Corp now owns 82,119 shares of the financial services provider’s stock worth $665,000 after purchasing an additional 15,479 shares during the period. Rhumbline Advisers increased its stake in RE/MAX by 7.6% in the 2nd quarter. Rhumbline Advisers now owns 29,174 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 2,054 shares in the last quarter. Magnolia Group LLC raised its holdings in RE/MAX by 2.8% during the 2nd quarter. Magnolia Group LLC now owns 3,124,152 shares of the financial services provider’s stock worth $25,306,000 after buying an additional 86,309 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of RE/MAX during the second quarter valued at approximately $153,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of RE/MAX in the second quarter valued at $253,000. Institutional investors and hedge funds own 93.17% of the company’s stock.

RE/MAX Company Profile

RE/MAX Holdings, Inc operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. It operates through Real Estate, Mortgage, and Marketing Funds segments. The company offers real estate brokerage franchising 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 loan processing software and services under the wemlo brand.