RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Acquires $318,703.10 in Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam K. Peterson purchased 29,455 shares of RE/MAX stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of $10.82 per share, for a total transaction of $318,703.10. Following the acquisition, the insider now directly owns 3,207,495 shares of the company’s stock, valued at approximately $34,705,095.90. This represents a 0.93 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

RE/MAX Trading Down 1.8 %

Shares of RMAX stock opened at $10.63 on Friday. The company has a market capitalization of $200.61 million, a price-to-earnings ratio of -19.68 and a beta of 1.34. The firm has a 50-day moving average price of $12.21 and a 200 day moving average price of $10.77. RE/MAX Holdings, Inc. has a twelve month low of $6.94 and a twelve month high of $14.31.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On RE/MAX

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in RE/MAX by 23.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,101 shares of the financial services provider’s stock worth $674,000 after buying an additional 10,207 shares during the last quarter. Magnolia Group LLC boosted its position in shares of RE/MAX by 2.8% in the second quarter. Magnolia Group LLC now owns 3,124,152 shares of the financial services provider’s stock worth $25,306,000 after acquiring an additional 86,309 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in RE/MAX in the second quarter valued at approximately $1,778,000. AQR Capital Management LLC increased its position in RE/MAX by 14.9% during the second quarter. AQR Capital Management LLC now owns 516,953 shares of the financial services provider’s stock worth $4,187,000 after purchasing an additional 66,960 shares during the last quarter. Finally, AXA S.A. purchased a new position in RE/MAX during the second quarter worth approximately $487,000. Institutional investors and hedge funds own 93.17% of the company’s stock.

About RE/MAX

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.