Marcus & Millichap (MMI) Director George M. Marcus Sells 145,896 Shares of Stock
Marcus & Millichap (NYSE:MMI) Director George M. Marcus sold 145,896 shares of the company’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $37.62, for a total value of $5,488,607.52. Following the sale, the director now owns 18,021 shares of the company’s stock, valued at approximately $677,950.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Marcus & Millichap opened at $37.78 on Wednesday, MarketBeat.com reports. The company has a quick ratio of 6.40, a current ratio of 6.40 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 3.16 and a beta of 1.32. Marcus & Millichap has a twelve month low of $23.54 and a twelve month high of $38.26.
Marcus & Millichap (NYSE:MMI) last posted its earnings results on Tuesday, May 8th. The real estate investment trust reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.08. The company had revenue of $174.54 million during the quarter, compared to analyst estimates of $160.85 million. Marcus & Millichap had a return on equity of 22.22% and a net margin of 7.76%. Marcus & Millichap’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. analysts anticipate that Marcus & Millichap will post 1.99 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of MMI. Schwab Charles Investment Management Inc. increased its position in shares of Marcus & Millichap by 5.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 54,008 shares of the real estate investment trust’s stock worth $1,458,000 after purchasing an additional 2,629 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Marcus & Millichap by 70.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,900 shares of the real estate investment trust’s stock worth $355,000 after purchasing an additional 4,500 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Marcus & Millichap during the fourth quarter worth $1,579,000. Strs Ohio acquired a new position in shares of Marcus & Millichap during the fourth quarter worth $759,000. Finally, Cantor Fitzgerald Investment Adviser L.P. acquired a new position in shares of Marcus & Millichap during the fourth quarter worth $434,000. 46.67% of the stock is currently owned by institutional investors and hedge funds.
About Marcus & Millichap
Marcus & Millichap, Inc, a brokerage firm, provides 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, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.
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