Adam K. Peterson buys 16,342 shares of RE/MAX Holdings, Inc. (NYSE: RMAX)

RE/MAX Holdings, Inc. (NYSE: RMAX – Get an assessment) top shareholder Adam K. Peterson acquired 16,342 shares of the company in a transaction that took place on Monday, September 26. The stock was purchased at an average price of $18.38 per share, with a total value of $300,365.96. Following the acquisition, the insider now directly owns 2,137,147 shares of the company, valued at approximately $39,280,761.86. The purchase was disclosed in a document filed with the SEC, accessible via this link. Large shareholders who own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

RE/MAX trades up 2.1%

Shares of RE/MAX rose $0.39 during trading hours on Wednesday, hitting $18.71. The company’s stock had a trading volume of 93,985 shares, compared to an average trading volume of 165,512 shares. RE/MAX Holdings, Inc. has a 12-month low of $17.97 and a 12-month high of $33.05. The stock has a 50-day moving average of $23.70 and a 200-day moving average of $24.55. The company has a market capitalization of $360.47 million, a PE ratio of -23.39 and a beta of 1.28. The company has a debt ratio of 7.01, a current ratio of 2.17 and a quick ratio of 2.17.

RE/MAX (NYSE: RMAX – Get an assessment) last announced its quarterly results on Thursday, August 4. The financial services provider reported earnings per share (EPS) of $0.58 for the quarter, beating the consensus estimate of $0.49 by $0.09. RE/MAX had a positive return on equity of 88.21% and a negative net margin of 4.06%. The company posted revenue of $92.17 million in the quarter, versus a consensus estimate of $92.54 million. In the same period a year earlier, the company had earned earnings per share of $0.51. The company’s revenue for the quarter increased by 19.3% compared to the same quarter last year. Analysts predict RE/MAX Holdings, Inc. will post 1.78 earnings per share for the current year.

RE/MAX dividend announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 30. Shareholders of record on Tuesday, August 16 received a dividend of $0.23. The ex-dividend date was Monday, August 15. This represents an annualized dividend of $0.92 and a dividend yield of 4.92%. RE/MAX’s dividend payout ratio (DPR) is currently -115.00%.

Changes to analyst ratings

Separately, Jonestrading lowered its price target on RE/MAX from $34.00 to $28.00 and set a “buy” rating for the company in a report on Monday.

Institutional investors weigh in on RE/MAX

Several large investors have recently changed their stake in the company. Russell Investments Group Ltd. acquired a new position in shares of RE/MAX during the first quarter with a value of approximately $1,566,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of RE/MAX during the first quarter worth approximately $2,249,000. Rice Hall James & Associates LLC increased its position in RE/MAX shares by 47.2% during the fourth quarter. Rice Hall James & Associates LLC now owns 95,923 shares of the financial services provider worth $2,925,000 after purchasing an additional 30,770 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in RE/MAX stock during the first quarter worth approximately $210,000. Finally, Magnolia Group LLC acquired a new position in shares of RE/MAX during the first quarter worth approximately $23,429,000. 98.85% of the shares are currently held by institutional investors.

RE/MAX company profile

(Get an assessment)

RE/MAX Holdings, Inc. operates as a franchisor of real estate and mortgage brokerage services in the United States, Canada and internationally. The Company operates through three segments: Real Estate, Mortgages and Marketing Funds. It offers franchise real estate brokerage 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 processing software and services under the wemlo brand.

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