Insider Buying: RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Buys 13,636 Shares of Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam K. Peterson bought 13,636 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $10.45 per share, for a total transaction of $142,496.20. Following the completion of the transaction, the insider now directly owns 3,221,131 shares in the company, valued at approximately $33,660,818.95. This represents a 0.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

RE/MAX Stock Up 2.5 %

RMAX stock opened at $10.61 on Friday. The firm’s fifty day simple moving average is $11.92 and its two-hundred day simple moving average is $10.97. The stock has a market capitalization of $200.23 million, a price-to-earnings ratio of -19.65 and a beta of 1.38. RE/MAX Holdings, Inc. has a twelve month low of $6.94 and a twelve month high of $14.31.

Institutional Trading of RE/MAX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC boosted its position in shares of RE/MAX by 566.7% during the third quarter. nVerses Capital LLC now owns 2,000 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,700 shares during the period. Quest Partners LLC bought a new stake in RE/MAX during the 3rd quarter valued at about $106,000. Quantinno Capital Management LP purchased a new stake in RE/MAX in the 3rd quarter valued at about $135,000. Paloma Partners Management Co bought a new position in RE/MAX in the 3rd quarter worth about $143,000. Finally, XTX Topco Ltd purchased a new position in shares of RE/MAX during the third quarter worth approximately $145,000. 93.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised RE/MAX from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.17.

About RE/MAX

RE/MAX Holdings, Inc operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. It operates through Real Estate, Mortgage, and Marketing Funds segments. The company 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.