Insider Buying: RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Acquires 12,000 Shares of Stock
RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating) major shareholder Adam K. Peterson purchased 12,000 shares of RE/MAX stock in a transaction that occurred on Monday, July 18th. The shares were bought at an average price of $24.37 per share, for a total transaction of $292,440.00. Following the transaction, the insider now owns 2,120,805 shares in the company, valued at $51,684,017.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
RE/MAX stock performance
Shares of NYSE:RMAX opened at $24.18 on Tuesday. The stock has a market capitalization of $465.85 million, a P/E ratio of -29.13 and a beta of 1.31. RE/MAX Holdings, Inc. has a 1-year low of $21.48 and a 1-year high of $35.34. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 6.40. The business has a 50-day moving average price of $23.75 and a two-hundred day moving average price of $26.67.
RE/MAX (NYSE:RMAX – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The financial services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. The firm had revenue of $91.00 million during the quarter, compared to analysts’ expectations of $90.77 million. RE/MAX had a positive return on equity of 68.84% and a negative net margin of 4.42%. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. Equities analysts predict that RE/MAX Holdings, Inc. will post 1.86 earnings per share for the current year.
RE/MAX Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 25th. Shareholders of record on Wednesday, May 11th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, May 10th. This represents a $0.92 annualized dividend and a yield of 3.80%. RE/MAX’s dividend payout ratio is currently -110.84%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com started coverage on shares of RE/MAX in a research report on Thursday, March 31st. They set a “hold” rating on the stock.
Institutional trading of RE/MAX
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Magnolia Group LLC increased its stake in shares of RE/MAX by 147.2% in the 2nd quarter. Magnolia Group LLC now owns 2,088,609 shares of the financial services provider’s stock valued at $51,213,000 after acquiring an additional 1,243,727 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of RE/MAX by 10.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,569 shares of the financial services provider’s stock valued at $357,000 after acquiring an additional 1,430 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of RE/MAX by 6.7% in the 1st quarter. Advisory Services Network LLC now owns 16,590 shares of the financial services provider’s stock valued at $460,000 after acquiring an additional 1,049 shares during the last quarter. Mirabella Financial Services LLP bought a new stake in shares of RE/MAX in the 1st quarter valued at about $459,000. Finally, Jane Street Group LLC increased its stake in shares of RE/MAX by 51.1% in the 1st quarter. Jane Street Group LLC now owns 24,492 shares of the financial services provider’s stock valued at $679,000 after acquiring an additional 8,288 shares during the last quarter. 94.37% of the stock is owned by institutional investors.
About RE/MAX
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RE/MAX Holdings, Inc operates as a franchiser of real estate and mortgage brokerage services in the United States, Canada, and internationally. The company operates through three segments: Real Estate, Mortgage, and Marketing Funds. It 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.
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