Insider Selling: RE/MAX (NYSE:RMAX) Insider Sells 632,091 Shares of Stock

Key Points

• Insider Adam Peterson sold 632,091 shares of RE/MAX on April 27 at an average price of $9.84 for about $6.22 million, cutting his stake by 27.20% to 1,691,727 shares valued at roughly $16.65 million.
• RMAX shares traded down to $11.06 on heavy volume (1,491,073 vs. an average of 475,984), with a market cap of $222.7M, a P/E of 28.35 and a 12‑month range of $5.46–$11.62; the company beat quarterly EPS estimates ($0.30 vs. $0.28) but showed a negative ROE of 73.77%.
• Institutional investors own about 93.17% of the stock and analyst coverage is mixed (one Buy, one Sell), leaving a consensus rating of "Hold" with a $13.80 target.

RE/MAX Holdings, Inc. (NYSE:RMAX - Get Free Report) insider Adam Peterson sold 632,091 shares of the company's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $9.84, for a total value of $6,219,775.44. Following the completion of the sale, the insider owned 1,691,727 shares of the company's stock, valued at $16,646,593.68. This trade represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

RE/MAX Stock Performance

Shares of RMAX stock traded down $0.23 during trading hours on Wednesday, reaching $11.06. The company had a trading volume of 1,491,073 shares, compared to its average volume of 475,984. The stock has a fifty day moving average of $6.34 and a 200-day moving average of $7.34. The company has a market capitalization of $222.71 million, a price-to-earnings ratio of 28.35 and a beta of 1.27. RE/MAX Holdings, Inc. has a 12-month low of $5.46 and a 12-month high of $11.62.

RE/MAX (NYSE:RMAX - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.02. RE/MAX had a negative return on equity of 73.77% and a net margin of 2.80%.The business had revenue of $71.14 million during the quarter, compared to analyst estimates of $71.33 million. On average, analysts forecast that RE/MAX Holdings, Inc. will post 0.85 EPS for the current year.

Hedge Funds Weigh In On RE/MAX

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in shares of RE/MAX by 95.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 533,201 shares of the financial services provider's stock worth $5,028,000 after purchasing an additional 260,416 shares during the period. Hillsdale Investment Management Inc. raised its position in RE/MAX by 20.0% in the third quarter. Hillsdale Investment Management Inc. now owns 590,380 shares of the financial services provider's stock valued at $5,567,000 after purchasing an additional 98,241 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in RE/MAX during the third quarter worth $95,000. Exchange Traded Concepts LLC purchased a new position in shares of RE/MAX during the third quarter worth $266,000. Finally, Brendel Financial Advisors LLC purchased a new position in shares of RE/MAX during the third quarter worth $350,000. Institutional investors and hedge funds own 93.17% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on RMAX. JonesTrading raised shares of RE/MAX from a "hold" rating to a "buy" rating and set a $13.80 price target for the company in a research note on Monday. Weiss Ratings reiterated a "sell (d)" rating on shares of RE/MAX in a report on Monday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.80.

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.

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