Insider Buying: RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Buys 16,000 Shares of Stock

RE/MAX Holdings, Inc. (NYSE:RMAX – Get Rating) major shareholder Adam K. Peterson acquired 16,000 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The shares were acquired at an average price of $17.05 per share, with a total value of $272,800.00. Following the acquisition, the insider now owns 2,444,084 shares in the company, valued at $41,671,632.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

RE/MAX Price Performance

Shares of RMAX stock opened at $17.69 on Wednesday. RE/MAX Holdings, Inc. has a twelve month low of $16.78 and a twelve month high of $29.81. The stock has a market capitalization of $315.24 million, a price-to-earnings ratio of 70.76 and a beta of 1.45. The stock has a fifty day simple moving average of $20.60 and a two-hundred day simple moving average of $19.97. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 14.00.

RE/MAX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 22nd. Shareholders of record on Wednesday, March 8th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend is Tuesday, March 7th. RE/MAX’s dividend payout ratio is 368.00%.

Wall Street Analyst Weigh In

Separately, Stephens cut RE/MAX from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $28.00 to $21.00 in a report on Tuesday, February 21st.

Institutional Investors Weigh In On RE/MAX

Hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors lifted 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 worth $28,000 after buying an additional 544 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of RE/MAX in the 2nd quarter worth $29,000. Point72 Middle East FZE purchased a new stake in shares of RE/MAX in the 4th quarter worth $35,000. Center for Financial Planning Inc. purchased a new stake in shares of RE/MAX in the 4th quarter worth $37,000. Finally, Amundi purchased a new stake in shares of RE/MAX in the 4th quarter worth $41,000. 93.34% of the stock is currently owned by hedge funds and other institutional investors.

About RE/MAX

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RE/MAX Holdings, Inc engages in the provision of real estate franchise services through its subsidiaries. It operates through the following segments: Real Estate, Mortgage, Marketing Funds, and Other. The Real Estate segment is comprised of the Company’s owned and independent global franchising operations under the RE/MAX brand name and technology and data subscription for Gadberry and the First app.