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

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam K. Peterson acquired 29,455 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average cost of $10.82 per share, for a total transaction of $318,703.10. Following the completion of the transaction, the insider now directly owns 3,207,495 shares in the company, valued at $34,705,095.90. This represents a 0.93 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

RE/MAX Stock Performance

RMAX traded down $0.20 during trading on Thursday, reaching $10.63. 311,161 shares of the stock were exchanged, compared to its average volume of 262,036. The stock’s 50 day moving average price is $12.22 and its two-hundred day moving average price is $10.77. RE/MAX Holdings, Inc. has a twelve month low of $6.94 and a twelve month high of $14.31. The stock has a market cap of $200.61 million, a P/E ratio of -19.68 and a beta of 1.34.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings in shares of RE/MAX by 138.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 524,188 shares of the financial services provider’s stock worth $6,526,000 after acquiring an additional 304,694 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of RE/MAX by 229.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 354,651 shares of the financial services provider’s stock valued at $4,415,000 after purchasing an additional 247,131 shares during the last quarter. Magnolia Group LLC raised 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 valued at $25,306,000 after purchasing an additional 86,309 shares during the period. AQR Capital Management LLC lifted its stake in shares of RE/MAX by 14.9% during the 2nd quarter. AQR Capital Management LLC now owns 516,953 shares of the financial services provider’s stock worth $4,187,000 after buying an additional 66,960 shares during the last quarter. Finally, AXA S.A. bought a new stake in shares of RE/MAX during the 2nd quarter worth about $487,000. 93.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.