Marcus & Millichap (NYSE:MMI) CEO Sells $33,280.00 in Stock

Marcus & Millichap, Inc. (NYSE:MMI) CEO Hessam Nadji sold 1,300 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $25.60, for a total transaction of $33,280.00. Following the completion of the transaction, the chief executive officer owned 480 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink.

Marcus & Millichap Stock Performance

Shares of NYSE MMI opened at $25.59 on Thursday. The company has a market capitalization of $978.31 million, a PE ratio of -639.59 and a beta of 1.32. The company’s fifty day moving average price is $26.29 and its 200 day moving average price is $28.36. Marcus & Millichap, Inc. has a 1 year low of $24.43 and a 1 year high of $36.70.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings data on Friday, February 13th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating 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 company had revenue of $243.95 million during the quarter, compared to analysts’ expectations of $229.45 million.

Marcus & Millichap Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 13th will be paid a $0.25 dividend. This represents a dividend yield of 196.0%. The ex-dividend date is Friday, March 13th. Marcus & Millichap’s payout ratio is currently -1,250.00%.

Institutional Trading of Marcus & Millichap

A number of institutional investors and hedge funds have recently modified their holdings of MMI. Savant Capital LLC lifted its stake in Marcus & Millichap by 5.7% in the 3rd quarter. Savant Capital LLC now owns 9,632 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 519 shares in the last quarter. Hunter Perkins Capital Management LLC boosted its holdings in Marcus & Millichap by 1.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 31,130 shares of the real estate investment trust’s stock worth $850,000 after buying an additional 580 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Marcus & Millichap by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 600 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Marcus & Millichap by 4.9% during the third quarter. Illinois Municipal Retirement Fund now owns 12,807 shares of the real estate investment trust’s stock valued at $376,000 after acquiring an additional 601 shares during the last quarter. Finally, AlphaQuest LLC raised its holdings in shares of Marcus & Millichap by 6.4% during the third quarter. AlphaQuest LLC now owns 11,649 shares of the real estate investment trust’s stock valued at $342,000 after acquiring an additional 696 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MMI shares. Wells Fargo & Company lowered their price target on 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 restated a “sell (d+)” rating on shares of Marcus & Millichap in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and an average price target 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.