Marcus & Millichap, Inc. (NYSE:MMI) Short Interest Update

Marcus & Millichap, Inc. (NYSE:MMI) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 773,256 shares, a growth of 39.0% from the February 26th total of 556,297 shares. Based on an average trading volume of 305,574 shares, the short-interest ratio is presently 2.5 days. Approximately 3.4% of the shares of the company are short sold.

Marcus & Millichap Price Performance

MMI stock traded up $0.46 during mid-day trading on Monday, reaching $26.17. 236,333 shares of the company traded hands, compared to its average volume of 298,496. The company has a fifty day moving average price of $26.20 and a 200-day moving average price of $28.00. Marcus & Millichap has a 52-week low of $24.43 and a 52-week high of $35.22. The company has a market capitalization of $996.33 million, a P/E ratio of -654.11 and a beta of 1.32.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Friday, February 13th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. Marcus & Millichap had a negative net margin of 0.25% and a positive return on equity of 0.20%. The firm had revenue of $243.95 million for the quarter, compared to the consensus estimate of $229.45 million.

Marcus & Millichap Dividend Announcement

The business also recently announced a dividend, which will be paid on Friday, April 3rd. Shareholders of record on Friday, March 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, March 13th. This represents a yield of 196.0%. Marcus & Millichap’s payout ratio is presently -1,250.00%.

Insider Transactions at Marcus & Millichap

In other Marcus & Millichap news, CEO Hessam Nadji sold 1,300 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $25.60, for a total transaction of $33,280.00. Following the sale, the chief executive officer directly owned 480 shares of the company’s stock, valued at $12,288. This represents a 73.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 39.89% of the company’s stock.

Institutional Trading of Marcus & Millichap

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tributary Capital Management LLC grew its position in Marcus & Millichap by 92.4% in the third quarter. Tributary Capital Management LLC now owns 1,339,094 shares of the real estate investment trust’s stock worth $39,302,000 after acquiring an additional 643,277 shares in the last quarter. Renaissance Technologies LLC raised its position in Marcus & Millichap by 773.2% during the fourth quarter. Renaissance Technologies LLC now owns 260,200 shares of the real estate investment trust’s stock valued at $7,101,000 after purchasing an additional 230,400 shares in the last quarter. Jane Street Group LLC lifted its stake in Marcus & Millichap by 542.1% during the fourth quarter. Jane Street Group LLC now owns 269,722 shares of the real estate investment trust’s stock worth $7,361,000 after purchasing an additional 227,719 shares during the last quarter. Marshall Wace LLP bought a new stake in Marcus & Millichap during the fourth quarter worth about $5,335,000. Finally, Millennium Management LLC boosted its holdings in shares of Marcus & Millichap by 1,372.2% in the 3rd quarter. Millennium Management LLC now owns 172,267 shares of the real estate investment trust’s stock worth $5,056,000 after purchasing an additional 160,566 shares in the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating on the stock in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marcus & Millichap in a report on Friday. Finally, Wall Street Zen upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Sell” and a consensus target price of $28.00.

Marcus & Millichap Company Profile

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.