Insider Selling: Marcus & Millichap Inc. (MMI) CEO Sells 13,500 Shares of Stock
Marcus & Millichap Inc. (NYSE:MMI) CEO Hessam Nadji sold 13,500 shares of the stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $25.90, for a total value of $349,650.00. Following the transaction, the chief executive officer now owns 355,233 shares in the company, valued at approximately $9,200,534.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Hessam Nadji also recently made the following trade(s):
- On Friday, August 19th, Hessam Nadji sold 9,000 shares of Marcus & Millichap stock. The stock was sold at an average price of $26.91, for a total value of $242,190.00.
Marcus & Millichap Inc. (NYSE:MMI) traded up 0.16% during trading on Wednesday, hitting $25.43. The stock had a trading volume of 64,704 shares. The stock’s 50 day moving average price is $24.66 and its 200 day moving average price is $25.73. Marcus & Millichap Inc. has a 12-month low of $18.77 and a 12-month high of $34.94. The firm has a market cap of $956.57 million, a P/E ratio of 14.78 and a beta of 1.53.
Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Thursday, November 3rd. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $180.63 million for the quarter, compared to analysts’ expectations of $169.80 million. Marcus & Millichap had a return on equity of 31.33% and a net margin of 9.22%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. On average, analysts anticipate that Marcus & Millichap Inc. will post $1.70 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new position in shares of Marcus & Millichap during the second quarter valued at about $122,000. Catalyst Capital Advisors LLC acquired a new position in Marcus & Millichap during the third quarter valued at about $131,000. Wells Fargo & Company MN boosted its position in Marcus & Millichap by 5.6% in the third quarter. Wells Fargo & Company MN now owns 5,622 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 300 shares during the last quarter. Societe Generale acquired a new position in Marcus & Millichap during the second quarter valued at about $173,000. Finally, SG Americas Securities LLC acquired a new position in Marcus & Millichap during the second quarter valued at about $173,000. Hedge funds and other institutional investors own 34.25% of the company’s stock.
A number of equities analysts have issued reports on MMI shares. TheStreet upgraded Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Monday, October 31st. Zacks Investment Research upgraded Marcus & Millichap from a “strong sell” rating to a “hold” rating and set a $26.00 price target on the stock in a research report on Wednesday, October 26th.
About Marcus & Millichap
Marcus & Millichap, Inc is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. The Company also offers market research, consulting and advisory services to its clients. It also offers two services to its clients, such as commercial real estate investment brokerage, and financing and ancillary services.
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