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
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.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to email@example.com.
Before you consider RE/MAX, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and RE/MAX was not on the list.
Although RE/MAX currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here