RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Buys $19,904.36 in Stock

November 18, 2022 Beth McCandry

RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating) major shareholder Adam K. Peterson bought 1,061 shares of the stock in a transaction on Thursday, November 17th. The stock was purchased at an average cost of $18.76 per share, with a total value of $19,904.36. Following the acquisition, the insider now owns 2,300,219 shares in the company, valued at $43,152,108.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

RE/MAX Trading Up 1.1%

NYSE RMAX traded up $0.20 during trading hours on Thursday, hitting $18.94. 103,218 shares of the company’s stock were exchanged, compared to its average volume of 166,299. The stock has a 50-day simple moving average of $19.18 and a 200-day simple moving average of $22.52. RE/MAX Holdings, Inc. has a 1-year low of $17.03 and a 1-year high of $31.91. The firm has a market cap of $345.56 million, a price-to-earnings ratio of 34.44 and a beta of 1.27. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 9.52.

RE/MAX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, November 15th. This represents a $0.92 annualized dividend and a yield of 4.86%. RE/MAX’s dividend payout ratio is currently 167.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RMAX shares. StockNews.com started coverage on RE/MAX in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Stephens decreased their price target on RE/MAX from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, November 7th. Finally, Jonestrading decreased their price target on RE/MAX from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, September 26th.

Institutional Investors Weigh In On RE/MAX

Several large investors have recently added to or reduced their stakes in RMAX. Magnolia Group LLC boosted its holdings in RE/MAX by 147.2% in the second quarter. Magnolia Group LLC now owns 2,088,609 shares of the financial services provider’s stock worth $51,213,000 after acquiring an additional 1,243,727 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in RE/MAX by 534.9% in the second quarter. Goldman Sachs Group Inc. now owns 197,685 shares of the financial services provider’s stock worth $4,848,000 after acquiring an additional 166,548 shares in the last quarter. Aureus Asset Management LLC boosted its holdings in RE/MAX by 16.2% in the first quarter. Aureus Asset Management LLC now owns 830,829 shares of the financial services provider’s stock worth $23,039,000 after acquiring an additional 116,072 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in RE/MAX in the first quarter worth approximately $2,249,000. Finally, Cubist Systematic Strategies LLC bought a new position in RE/MAX in the third quarter worth approximately $1,339,000. Institutional investors and hedge funds own 98.85% of the company’s stock.

RE/MAX Company Profiles

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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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