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

Marcus & Millichap, Inc. (NYSE:MMI) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 550,000 shares, a decrease of 19.3% from the September 15th total of 681,300 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 99,100 shares, the days-to-cover ratio is currently 5.5 days.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MMI. Wells Fargo & Company boosted their price target on shares of Marcus & Millichap from $20.00 to $30.00 and gave the company an “underweight” rating in a report on Friday, September 6th. StockNews.com upgraded Marcus & Millichap from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th.

Marcus & Millichap Stock Up 3.5 %

Shares of MMI traded up $1.25 during trading hours on Friday, reaching $36.77. The company’s stock had a trading volume of 50,300 shares, compared to its average volume of 131,480. The company has a 50 day moving average of $38.37 and a two-hundred day moving average of $35.13. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -36.77 and a beta of 1.13. Marcus & Millichap has a 1-year low of $26.81 and a 1-year high of $44.24.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The firm had revenue of $158.37 million for the quarter. Marcus & Millichap had a negative net margin of 5.68% and a negative return on equity of 5.50%.

Marcus & Millichap Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a yield of 1.3%. Marcus & Millichap’s payout ratio is -50.00%.

Insider Activity

In other Marcus & Millichap news, CEO Hessam Nadji sold 659 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $40.33, for a total value of $26,577.47. Following the sale, the chief executive officer now directly owns 209,123 shares in the company, valued at approximately $8,433,930.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Hessam Nadji sold 659 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $40.33, for a total transaction of $26,577.47. Following the completion of the sale, the chief executive officer now directly owns 209,123 shares of the company’s stock, valued at $8,433,930.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Norma J. Lawrence sold 1,123 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $40.00, for a total value of $44,920.00. Following the sale, the director now directly owns 24,971 shares in the company, valued at $998,840. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,823 shares of company stock worth $635,545 over the last 90 days. 39.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Marcus & Millichap

A number of hedge funds and other institutional investors have recently made changes to their positions in MMI. Allspring Global Investments Holdings LLC acquired a new stake in shares of Marcus & Millichap in the 1st quarter valued at $85,000. EntryPoint Capital LLC acquired a new stake in shares of Marcus & Millichap in the first quarter worth about $85,000. LRI Investments LLC bought a new stake in shares of Marcus & Millichap during the 1st quarter worth about $143,000. Scharf Investments LLC increased its holdings in shares of Marcus & Millichap by 18.8% during the 1st quarter. Scharf Investments LLC now owns 5,905 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 933 shares during the last quarter. Finally, Heritage Family Offices LLP bought a new position in shares of Marcus & Millichap in the 2nd quarter valued at approximately $207,000. 62.78% of the stock is owned by hedge funds and other institutional investors.

About Marcus & Millichap

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.