Marcus & Millichap, Inc. (NYSE:MMI) Insider Sells $101,383.70 in Stock

Marcus & Millichap, Inc. (NYSE:MMI) insider Gregory A. Laberge sold 2,915 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $34.78, for a total transaction of $101,383.70. Following the transaction, the insider now owns 2,307 shares in the company, valued at approximately $80,237.46. This trade represents a 55.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Marcus & Millichap Price Performance

NYSE:MMI traded up $0.04 during trading hours on Wednesday, reaching $34.97. The company’s stock had a trading volume of 101,835 shares, compared to its average volume of 106,316. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -109.27 and a beta of 1.15. Marcus & Millichap, Inc. has a one year low of $29.93 and a one year high of $42.80. The business’s 50-day moving average is $37.27 and its 200-day moving average is $38.54.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Friday, February 14th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.28. The company had revenue of $240.08 million during the quarter. Marcus & Millichap had a negative return on equity of 1.98% and a negative net margin of 1.78%. During the same quarter last year, the company posted ($0.27) EPS.

Marcus & Millichap Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Friday, April 4th. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a yield of 1.3%. Marcus & Millichap’s dividend payout ratio (DPR) is presently -156.25%.

Hedge Funds Weigh In On Marcus & Millichap

A number of institutional investors have recently modified their holdings of MMI. Royce & Associates LP grew its stake in Marcus & Millichap by 0.3% in the 3rd quarter. Royce & Associates LP now owns 2,303,153 shares of the real estate investment trust’s stock valued at $91,274,000 after buying an additional 6,000 shares during the last quarter. Reinhart Partners LLC. boosted its holdings in Marcus & Millichap by 4.0% during the fourth quarter. Reinhart Partners LLC. now owns 1,909,491 shares of the real estate investment trust’s stock valued at $73,057,000 after acquiring an additional 73,792 shares during the period. State Street Corp grew its position in shares of Marcus & Millichap by 0.3% in the third quarter. State Street Corp now owns 910,655 shares of the real estate investment trust’s stock valued at $36,319,000 after purchasing an additional 2,877 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of Marcus & Millichap by 2.9% in the third quarter. Lord Abbett & CO. LLC now owns 869,669 shares of the real estate investment trust’s stock valued at $34,465,000 after purchasing an additional 24,352 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Marcus & Millichap by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 597,338 shares of the real estate investment trust’s stock worth $22,859,000 after purchasing an additional 2,193 shares during the period. Institutional investors own 62.78% of the company’s stock.

About Marcus & Millichap

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.