RE/MAX (NYSE:RMAX) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of RE/MAX (NYSE:RMAX – Get Rating) in a report issued on Thursday. The firm issued a hold rating on the financial services provider’s stock.

Separately, Stephens lowered shares of RE/MAX from an overweight rating to an equal weight rating and dropped their price objective for the stock from $28.00 to $21.00 in a research note on Tuesday, February 21st.

RE/MAX Price Performance

Shares of NYSE RMAX opened at $16.96 on Thursday. RE/MAX has a 1 year low of $16.78 and a 1 year high of $29.25. The company has a debt-to-equity ratio of 14.00, a current ratio of 2.09 and a quick ratio of 2.09. The company’s 50-day moving average is $20.47 and its 200 day moving average is $19.82. The stock has a market capitalization of $302.23 million, a P/E ratio of 67.84 and a beta of 1.45.

RE/MAX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Wednesday, March 8th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, March 7th. This represents a $0.92 annualized dividend and a dividend yield of 5.42%. RE/MAX’s dividend payout ratio is presently 368.00%.

Insider Transactions at RE/MAX

In other news, major shareholder Adam K. Peterson bought 16,000 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were purchased at an average price of $17.05 per share, for a total transaction of $272,800.00. Following the completion of the purchase, the insider now owns 2,444,084 shares in the company, valued at approximately $41,671,632.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Adam K. Peterson acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, December 28th. The shares were bought at an average price of $17.78 per share, for a total transaction of $266,700.00. Following the completion of the transaction, the insider now directly owns 2,331,683 shares in the company, valued at $41,457,323.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Adam K. Peterson acquired 16,000 shares of the stock in a transaction that occurred on Friday, March 10th. The shares were bought at an average price of $17.05 per share, for a total transaction of $272,800.00. Following the transaction, the insider now owns 2,444,084 shares of the company’s stock, valued at $41,671,632.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 95,497 shares of company stock worth $1,698,690. Corporate insiders own 3.37% of the company’s stock.

Institutional Trading of RE/MAX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMAX. Captrust Financial Advisors increased its holdings in RE/MAX by 115.0% during the first quarter. Captrust Financial Advisors now owns 1,017 shares of the financial services provider’s stock valued at $28,000 after buying an additional 544 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in RE/MAX during the second quarter valued at approximately $29,000. Point72 Middle East FZE purchased a new stake in RE/MAX during the fourth quarter valued at approximately $35,000. Center for Financial Planning Inc. purchased a new stake in RE/MAX during the fourth quarter valued at approximately $37,000. Finally, Amundi purchased a new stake in shares of RE/MAX in the fourth quarter worth $41,000. 93.34% of the stock is 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.