Insider Buying: RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Purchases 2,726 Shares of Stock
RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating) major shareholder Adam K. Peterson bought 2,726 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were acquired at an average cost of $17.44 per share, for a total transaction of $47,541.44. Following the completion of the purchase, the insider now owns 2,222,685 shares in the company, valued at $38,763,626.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders who own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
RE/MAX Stock Down 0.1%
Shares of NYSE:RMAX traded down $0.02 during trading hours on Wednesday, reaching $17.62. The stock had a trading volume of 172,498 shares, compared to its average volume of 165,774. RE/MAX Holdings, Inc. has a 1 year low of $17.03 and a 1 year high of $31.91. The firm’s 50-day moving average is $19.58 and its 200-day moving average is $22.74. The company has a debt-to-equity ratio of 9.52, a quick ratio of 2.06 and a current ratio of 2.06. The stock has a market capitalization of $339.47 million, a price-to-earnings ratio of 32.04 and a beta of 1.27.
RE/MAX Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 16th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date is Tuesday, November 15th. RE/MAX’s dividend payout ratio is currently 167.28%.
Institutional Investors Weigh In On RE/MAX
A number of large investors have recently modified their holdings of the company. Legal & General Group Plc boosted 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 buying an additional 408 shares in the last quarter. JPMorgan Chase & Co. boosted 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 buying an additional 491 shares in the last quarter. Mutual of America Capital Management LLC boosted 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 buying an additional 514 shares in the last quarter. Captrust Financial Advisors boosted 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 buying an additional 544 shares in the last quarter. Finally, Citigroup Inc. boosted 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 buying an additional 969 shares in the last quarter. 98.85% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on RMAX shares. Jonestrading cut their target price on shares of RE/MAX from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, September 26th. StockNews.com started coverage on shares of RE/MAX in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Stephens cut their target price on shares of RE/MAX from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday.
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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