Adam K. Peterson Purchases 40,000 Shares of RE/MAX Holdings, Inc. (NYSE:RMAX) Stock

October 4, 2022 Beth McCandry

RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating) major shareholder Adam K. Peterson acquired 40,000 shares of the firm’s stock in a transaction on Thursday, September 29th. The stock was purchased at an average cost of $18.38 per share, with a total value of $735,200.00. Following the completion of the transaction, the insider now owns 2,196,195 shares in the company, valued at $40,366,064.10. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders who own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

RE/MAX stock performance

NYSE:RMAX traded down $0.45 during trading hours on Monday, reaching $18.46. 188,380 shares of the stock were exchanged, compared to its average volume of 166,878. The stock has a market capitalization of $355.65 million, a P/E ratio of -23.07 and a beta of 1.30. The firm has a 50-day simple moving average of $23.32 and a 200-day simple moving average of $24.28. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 7.01. RE/MAX Holdings, Inc. has a 52 week low of $17.97 and a 52 week high of $33.05.

RE/MAX (NYSE:RMAX – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. The business had revenue of $92.17 million during the quarter, compared to analyst estimates of $92.54 million. RE/MAX had a negative net margin of 4.06% and a positive return on equity of 88.21%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS. As a group, sell-side analysts forecast that RE/MAX Holdings, Inc. will post 1.78 earnings per share for the current fiscal year.

RE/MAX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Tuesday, August 16th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date was Monday, August 15th. RE/MAX’s payout ratio is -115.00%.

Analyst Rating Changes

Separately, Jonestrading cut their target price on RE/MAX from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, September 26th.

Hedge Funds Weigh In On RE/MAX

Hedge funds and other institutional investors have recently modified their holdings of the company. Qube Research & Technologies Ltd acquired a new position in RE/MAX during the 4th quarter worth $231,000. Rhumbline Advisers lifted its holdings in RE/MAX by 1.6% in the fourth quarter. Rhumbline Advisers now owns 56,307 shares of the financial services provider’s stock worth $1,717,000 after purchasing an additional 907 shares during the period. Squarepoint Ops LLC grew its position in RE/MAX by 68.7% in the 4th quarter. Squarepoint Ops LLC now owns 53,797 shares of the financial services provider’s stock valued at $1,640,000 after buying an additional 21,906 shares in the last quarter. Confluence Investment Management LLC increased its stake in RE/MAX by 3.9% during the 1st quarter. Confluence Investment Management LLC now owns 597,740 shares of the financial services provider’s stock valued at $16,575,000 after buying an additional 22,626 shares during the period. Finally, Magnolia Group LLC bought a new stake in shares of RE/MAX during the 1st quarter worth about $23,429,000. Institutional investors and hedge funds own 98.85% of the company’s stock.

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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