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Insiders Are Buying RE/MAX Holdings
Posted by: Markus Aarnio (IP Logged)
Date: October 6, 2013 02:39PM
One real estate broker has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:
The stock is purchased by three or more insiders within one month.
The stock is sold by no insiders in the month of intensive purchasing.
At least two purchasers increase their holdings by more than 10%.
RE/MAX Holdings (RMAX) operates as a real estate broker. RE/MAX's business strategy is to recruit and retain agents and sell franchises. RE/MAX has held the number one market share in the U.S. and Canada since 1999 as measured by total residential transaction sides completed by its agents.
Insider Buying During the Last 30 Days
Here is a table of RE/MAX Holdings' insider-trading activity by calendar month.
There have been 51,450 shares purchased and there have been zero shares sold by insiders since October 2013. RE/MAX had its IPO on October 1.
RE/MAX reported the pro forma first six months results with the following highlights:
National Association of Realtors is forecasting that:
RE/MAX believes that it is well-positioned to benefit from an increase in its agent count as a result of the current U.S. economic recovery and the rebound in the U.S. housing sector which appears to be gaining momentum.
RE/MAX' largest national competitors in the U.S. include Realogy Holdings (RLGY) (which operates several brands including Century 21 and Coldwell Banker), Berkshire Hathaway Home Services (BRK.A) (which acquired Prudential Real Estate and Relocation Services in 2012) and Keller Williams Realty.
Realogy Holdings has seen 65,478,372 shares sold and zero shares purchased by insiders this year.
There have been nine different insiders buying RE/MAX and there have not been any insiders selling RE/MAX during the past 30 days. All nine of these insiders increased their holdings by more than 10%.
RE/MAX started trading on October 2 after the initial public offering. The insiders paid $22 for their shares and the stock is currently trading at $31.65. I believe the stock could be a good pick at $22 based on the intensive insider buying.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Stocks Discussed: RMAX, RLGY, BRK.A,
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