Marcus & Millichap, Inc. (MMI) SVP Sells $131,700.00 in Stock
Marcus & Millichap, Inc. (NYSE:MMI) SVP William E. Hughes sold 5,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $26.34, for a total value of $131,700.00. Following the completion of the transaction, the senior vice president now directly owns 40,540 shares in the company, valued at approximately $1,067,823.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Marcus & Millichap, Inc. (MMI) traded up 0.68% on Friday, reaching $26.51. The company’s stock had a trading volume of 42,518 shares. The firm’s 50 day moving average price is $26.10 and its 200-day moving average price is $25.67. Marcus & Millichap, Inc. has a 1-year low of $22.93 and a 1-year high of $30.31. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 17.33 and a beta of 1.55.
Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.07. The business had revenue of $180.37 million for the quarter, compared to the consensus estimate of $177.40 million. Marcus & Millichap had a return on equity of 22.56% and a net margin of 8.51%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. Equities analysts forecast that Marcus & Millichap, Inc. will post $1.42 earnings per share for the current year.
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A number of research firms have weighed in on MMI. Zacks Investment Research raised Marcus & Millichap from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. BidaskClub downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, ValuEngine downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $27.00.
A number of hedge funds have recently bought and sold shares of the stock. Royce & Associates LP increased its stake in Marcus & Millichap by 37.9% in the first quarter. Royce & Associates LP now owns 3,483,324 shares of the real estate investment trust’s stock valued at $85,620,000 after buying an additional 957,701 shares during the last quarter. Tributary Capital Management LLC purchased a new stake in Marcus & Millichap during the second quarter valued at $13,409,000. Aberdeen Asset Management PLC UK increased its stake in Marcus & Millichap by 56.4% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,408,893 shares of the real estate investment trust’s stock valued at $34,631,000 after buying an additional 507,862 shares during the last quarter. Vivaldi Asset Management LLC increased its stake in Marcus & Millichap by 3,527.7% in the second quarter. Vivaldi Asset Management LLC now owns 363,316 shares of the real estate investment trust’s stock valued at $9,577,000 after buying an additional 353,301 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in Marcus & Millichap during the first quarter valued at $3,993,000. Institutional investors and hedge funds own 41.90% of the company’s stock.
About Marcus & Millichap
Marcus & Millichap, Inc is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services. The Company offers three primary services to its clients: commercial real estate investment brokerage, financing, and ancillary services, including other research, advisory and consulting services.
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