RE/MAX (NYSE:RMAX) Insider Sells $5,408,275.82 in Stock

Key Points

• Insider sale: Adam Peterson sold 493,006 shares at an average price of $10.97 on April 28, generating $5,408,275.82 and reducing his position by 29.14% to 1,198,721 shares (worth about $13.15M), per an SEC filing.
• Shares dropped about 2.1% to $11.06 with volume of 1.49M (vs. average 475,984); RE/MAX has a market cap of $222.7M, a P/E of 28.35, and a 52-week range of $5.46–$11.62.
• Analysts are split—one Buy and one Sell for a consensus "Hold" and $13.80 price target—while institutional investors own 93.17% of the stock and several funds recently increased their stakes.

RE/MAX Holdings, Inc. (NYSE:RMAX - Get Free Report) insider Adam Peterson sold 493,006 shares of RE/MAX stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $10.97, for a total transaction of $5,408,275.82. Following the sale, the insider directly owned 1,198,721 shares of the company's stock, valued at $13,149,969.37. This trade represents a 29.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

RE/MAX Stock Down 2.1%

Shares of NYSE:RMAX traded down $0.23 during trading on Wednesday, reaching $11.06. 1,491,073 shares of the company traded hands, compared to its average volume of 475,984. The firm has a fifty day simple moving average of $6.34 and a 200 day simple moving average of $7.34. The firm has a market cap of $222.71 million, a P/E ratio of 28.35 and a beta of 1.27. RE/MAX Holdings, Inc. has a 1-year low of $5.46 and a 1-year high of $11.62.

RE/MAX (NYSE:RMAX - Get Free Report) last issued its 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. The company had revenue of $71.14 million during the quarter, compared to analyst estimates of $71.33 million. RE/MAX had a net margin of 2.80% and a negative return on equity of 73.77%. As a group, research analysts anticipate that RE/MAX Holdings, Inc. will post 0.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RMAX. Weiss Ratings reissued a "sell (d)" rating on shares of RE/MAX in a research note on Monday. JonesTrading upgraded shares of RE/MAX from a "hold" rating to a "buy" rating and set a $13.80 price target on the stock in a research note on Monday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $13.80.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RMAX. JPMorgan Chase & Co. increased its stake 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 last quarter. Russell Investments Group Ltd. grew its stake in RE/MAX by 166.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 398,707 shares of the financial services provider's stock valued at $3,760,000 after buying an additional 249,188 shares during the last quarter. Jane Street Group LLC raised its holdings in RE/MAX by 209.6% in the 4th quarter. Jane Street Group LLC now owns 234,829 shares of the financial services provider's stock worth $1,782,000 after acquiring an additional 158,986 shares during the period. Hillsdale Investment Management Inc. raised its holdings in RE/MAX by 20.0% in the 3rd 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 during the period. Finally, Trexquant Investment LP bought a new position in RE/MAX in the 4th quarter worth $655,000. Institutional investors and hedge funds 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.

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