Marcus & Millichap Inc. (MMI) SVP Sells $151,305.00 in Stock
Marcus & Millichap Inc. (NYSE:MMI) SVP William E. Hughes sold 5,500 shares of the business’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $27.51, for a total transaction of $151,305.00. Following the sale, the senior vice president now directly owns 40,540 shares in the company, valued at $1,115,255.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Marcus & Millichap Inc. (NYSE:MMI) traded up 0.25% during trading on Monday, hitting $27.59. 90,078 shares of the stock were exchanged. Marcus & Millichap Inc. has a 12-month low of $18.77 and a 12-month high of $32.99. The stock has a 50 day moving average price of $24.91 and a 200-day moving average price of $25.82. The firm has a market capitalization of $1.04 billion, a PE ratio of 16.04 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 for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business earned $180.63 million during the quarter, compared to analyst estimates of $169.80 million. Marcus & Millichap had a net margin of 9.22% and a return on equity of 31.33%. Marcus & Millichap’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 earnings per share. On average, equities research analysts anticipate that Marcus & Millichap Inc. will post $1.70 earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in the stock. Dean Investment Associates LLC acquired a new position in shares of Marcus & Millichap during the third quarter worth about $3,238,000. Highbridge Capital Management LLC boosted its position in shares of Marcus & Millichap by 60.9% in the third quarter. Highbridge Capital Management LLC now owns 17,323 shares of the real estate investment trust’s stock worth $453,000 after buying an additional 6,554 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of Marcus & Millichap during the third quarter worth about $553,000. The Manufacturers Life Insurance Company acquired a new position in shares of Marcus & Millichap during the third quarter worth about $292,000. Finally, SECOR Capital Advisors LP boosted its position in shares of Marcus & Millichap by 19.2% in the third quarter. SECOR Capital Advisors LP now owns 78,956 shares of the real estate investment trust’s stock worth $2,065,000 after buying an additional 12,704 shares during the last quarter. 33.84% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on MMI. Zacks Investment Research raised shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. TheStreet raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a research note on Monday, October 31st.
Marcus & Millichap Company Profile
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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