According to documents filed with the U.S. Securities and Exchange Commission this week, David Liniger acquired 140,800 more shares of the publicly trade real estate franchisor.

If money talks then David Liniger is extremely bullish on RE/MAX Holdings, the company he co-founded with his wife Gail Liniger in 1973.

According to documents filed with the U.S. Securities and Exchange Commission this week, Liniger acquired 140,800 more shares of the publicly-trade real estate franchisor between June 6 and June 10. The shares were purchased at $30.11 and $31.04, meaning he acquired slightly more than $4 million in RE/MAX stock this week.

The move comes on the heels of Liniger’s investment early last week, when he acquired 122,911 shares in the company.

“I consider the RE/MAX stock at current levels to be undervalued,” Liniger said in a statement after his first round of stock purchases. “RE/MAX has made key acquisitions, produced outstanding margins and generated strong cash flow. No doubt the industry is changing, as it always has in my 50 years of experience, but the constant that I see through all of this time is consumer preference for quality brokers and agents.”

He even hinted last week that he may not be done buying shares.

“I believe that RE/MAX is uniquely positioned to continue to be the leader in the industry, which is what gives me great confidence that the company is well positioned for the future,” Liniger added, in his statement released last week. “That is why I have been buying shares in the open market and may continue to purchase additional shares.”

Liniger resigned as co-CEO of RE/MAX Holdings in February 2018, leaving Adam Contos – now RE/MAX’s sole CEO – at the helm of the company. Liniger’s resignation came in the wake of an internal investigation that later found both he and Contos had violated the company’s code of ethics by failing to disclose to the RE/MAX board of directors a $2.4 million loan Liniger gave to Contos.

Liniger still serves as the chairman of the board of directors. His wife serves as vice chair of the board.

RE/MAX shares opened the day on a high note, jumping by $1.19 to $32.94, a 3.75 percent increase since the opening of markets on Tuesday.

Email Patrick Kearns

How do you stay ahead in a changing market? Inman Connect Las Vegas — featuring 250+ experts from across the industry sharing insight and tactics to navigate threat and seize opportunity in tomorrow’s real estate market. Join more than 4,000 top producers, brokers and industry leaders to network and discover what’s next, July 23-26 at the Aria Resort. Hurry! Tickets are going fast, register today!

Thinking of bringing your team? There are special onsite perks and discounts when you buy tickets together. Contact us to find out more.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription