Harbor Capital Advisors Inc. Has $2.31 Million Stock Position in Marcus & Millichap, Inc. (NYSE:MMI)

Harbor Capital Advisors Inc. increased its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 332.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,314 shares of the real estate investment trust’s stock after buying an additional 56,379 shares during the quarter. Harbor Capital Advisors Inc. owned 0.19% of Marcus & Millichap worth $2,311,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Signaturefd LLC boosted its stake in shares of Marcus & Millichap by 112.6% in the 4th quarter. Signaturefd LLC now owns 623 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 330 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Marcus & Millichap in the first quarter valued at approximately $85,000. EntryPoint Capital LLC acquired a new stake in shares of Marcus & Millichap in the first quarter valued at about $85,000. LRI Investments LLC bought a new position in shares of Marcus & Millichap in the first quarter valued at $143,000. Finally, Savant Capital LLC acquired a new stake in Marcus & Millichap in the 4th quarter valued at about $219,000. Institutional investors and hedge funds own 62.78% of the company’s stock.

Marcus & Millichap Trading Down 0.8 %

Shares of NYSE:MMI traded down $0.29 during trading on Wednesday, reaching $38.25. 45,091 shares of the stock were exchanged, compared to its average volume of 145,653. Marcus & Millichap, Inc. has a 12 month low of $26.81 and a 12 month high of $44.24. The stock has a 50-day moving average price of $33.87 and a 200-day moving average price of $34.41. The firm has a market cap of $1.48 billion, a PE ratio of -38.46 and a beta of 1.12.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported ($0.26) EPS for the quarter. Marcus & Millichap had a negative net margin of 6.16% and a negative return on equity of 5.91%. The firm had revenue of $129.10 million during the quarter.

Marcus & Millichap Announces Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 16th will be issued a $0.25 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Monday, September 16th. Marcus & Millichap’s dividend payout ratio is currently -50.00%.

Insider Buying and Selling

In other Marcus & Millichap news, COO John David Parker sold 1,835 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $35.29, for a total value of $64,757.15. Following the transaction, the chief operating officer now directly owns 13,373 shares of the company’s stock, valued at approximately $471,933.17. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO John David Parker sold 1,835 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $35.29, for a total value of $64,757.15. Following the sale, the chief operating officer now directly owns 13,373 shares of the company’s stock, valued at $471,933.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hessam Nadji sold 800 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $40.03, for a total value of $32,024.00. Following the transaction, the chief executive officer now directly owns 223,323 shares of the company’s stock, valued at approximately $8,939,619.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,635 shares of company stock worth $658,511. Company insiders own 39.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc, an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.