Marcus & Millichap, Inc. (MMI) SVP Sells $168,000.00 in Stock
Marcus & Millichap, Inc. (NYSE:MMI) SVP William E. Hughes sold 6,000 shares of Marcus & Millichap stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $28.00, for a total transaction of $168,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Marcus & Millichap, Inc. (NYSE:MMI) traded up 0.94% on Wednesday, hitting $28.02. 99,500 shares of the stock were exchanged. Marcus & Millichap, Inc. has a 1-year low of $22.93 and a 1-year high of $30.31. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 18.31 and a beta of 1.55. The stock’s 50-day moving average is $26.14 and its 200-day moving average is $25.61.
Marcus & Millichap (NYSE:MMI) last announced its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.07. The company had revenue of $180.37 million during the quarter, compared to the consensus estimate of $177.40 million. Marcus & Millichap had a net margin of 8.51% and a return on equity of 22.56%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 earnings per share. Analysts forecast that Marcus & Millichap, Inc. will post $1.43 earnings per share for the current year.
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A number of research analysts have recently commented on the stock. BidaskClub downgraded shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.00.
Several hedge funds have recently made changes to their positions in MMI. Tributary Capital Management LLC purchased a new stake in shares of Marcus & Millichap in the second quarter valued at about $13,409,000. Vivaldi Asset Management LLC raised its holdings in shares of Marcus & Millichap by 3,527.7% in the second quarter. Vivaldi Asset Management LLC now owns 363,316 shares of the real estate investment trust’s stock valued at $9,577,000 after purchasing an additional 353,301 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Marcus & Millichap by 9.0% in the second quarter. Royce & Associates LP now owns 3,796,629 shares of the real estate investment trust’s stock valued at $100,079,000 after purchasing an additional 313,305 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Marcus & Millichap in the first quarter valued at about $3,993,000. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Marcus & Millichap in the first quarter valued at about $3,993,000. Institutional investors own 41.90% of the company’s stock.
Marcus & Millichap Company Profile
Marcus & Millichap, Inc is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services. The Company offers three primary services to its clients: commercial real estate investment brokerage, financing, and ancillary services, including other research, advisory and consulting services.
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