Adam K. Peterson Purchases 18,934 Shares of RE/MAX Holdings, Inc. (NYSE:RMAX) Stock

October 21, 2022 Beth McCandry

RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating) major shareholder Adam K. Peterson purchased 18,934 shares of the firm’s stock in a transaction that occurred on Wednesday, October 19th. The shares were acquired at an average price of $18.20 per share, with a total value of $344,598.80. Following the purchase, the insider now owns 2,215,129 shares in the company, valued at $40,315,347.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders who own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

RE/MAX stock performance

RE/MAX stock traded up $0.57 during trading hours on Friday, reaching $18.62. 171,645 shares of the stock were exchanged, compared to its average volume of 164,984. The stock has a market cap of $358.73 million, a P/E ratio of -22.56 and a beta of 1.30. The company has a debt-to-equity ratio of 7.01, a quick ratio of 2.17 and a current ratio of 2.17. RE/MAX Holdings, Inc. has a 52-week low of $17.74 and a 52-week high of $32.75. The firm’s 50 day moving average is $21.38 and its 200 day moving average is $23.46.

RE/MAX (NYSE:RMAX – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The company had revenue of $92.17 million during the quarter, compared to the consensus estimate of $92.54 million. RE/MAX had a negative net margin of 4.06% and a positive return on equity of 88.21%. RE/MAX’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. Analysts predict that RE/MAX Holdings, Inc. will post 1.78 EPS for the current fiscal year.

RE/MAX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Stockholders of record on Tuesday, August 16th were issued a $0.23 dividend. The ex-dividend date was Monday, August 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.94%. RE/MAX’s dividend payout ratio is currently -115.00%.

Analyst’s Set New Price Targets

A number of equities analysts have commented on the stock. Jonestrading cut their price objective on shares of RE/MAX from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, September 26th. StockNews.com assumed coverage on shares of RE/MAX in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

Hedge Funds Weigh In On RE/MAX

A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its holdings in shares of RE/MAX by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 44,992 shares of the financial services provider’s stock valued at $1,104,000 after purchasing an additional 408 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of RE/MAX by 3.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,357 shares of the financial services provider’s stock valued at $401,000 after purchasing an additional 491 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of RE/MAX by 18.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 3,235 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 514 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of RE/MAX by 115.0% in the 1st quarter. Captrust Financial Advisors now owns 1,017 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 544 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of RE/MAX by 5.5% in the 1st quarter. Citigroup Inc. now owns 18,470 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 969 shares in the last quarter. Hedge funds and other institutional investors 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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