Marcus & Millichap (NYSE:MMI) CEO Sells $15,195.00 in Stock

Marcus & Millichap, Inc. (NYSE:MMI) CEO Hessam Nadji sold 500 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $30.39, for a total value of $15,195.00. Following the completion of the sale, the chief executive officer owned 480 shares in the company, valued at approximately $14,587.20. This trade represents a 51.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Marcus & Millichap Trading Down 0.5%

Shares of Marcus & Millichap stock traded down $0.15 during trading on Friday, reaching $30.18. The stock had a trading volume of 185,087 shares, compared to its average volume of 267,032. The stock has a fifty day moving average price of $28.38 and a two-hundred day moving average price of $27.46. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -3,014.79 and a beta of 1.25. Marcus & Millichap, Inc. has a 52 week low of $24.43 and a 52 week high of $33.62.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $171.47 million for the quarter, compared to the consensus estimate of $162.20 million. Marcus & Millichap had a positive return on equity of 0.43% and a negative net margin of 0.08%.Marcus & Millichap’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) earnings per share.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MMI. Weiss Ratings downgraded Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Wall Street Zen cut Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Marcus & Millichap currently has a consensus rating of “Sell” and an average price target of $28.00.

Institutional Trading of Marcus & Millichap

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in Marcus & Millichap by 7.9% during the 1st quarter. Bank of America Corp DE now owns 49,171 shares of the real estate investment trust’s stock worth $1,307,000 after acquiring an additional 3,606 shares during the period. Royal Bank of Canada boosted its stake in shares of Marcus & Millichap by 22.6% in the 1st quarter. Royal Bank of Canada now owns 36,281 shares of the real estate investment trust’s stock worth $964,000 after buying an additional 6,688 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Marcus & Millichap by 348.4% in the 1st quarter. Quantinno Capital Management LP now owns 51,913 shares of the real estate investment trust’s stock worth $1,380,000 after purchasing an additional 40,335 shares during the period. Lazard Asset Management LLC bought a new stake in Marcus & Millichap during the 1st quarter valued at $1,809,000. Finally, Sei Investments Co. raised its holdings in Marcus & Millichap by 99.7% during the 1st quarter. Sei Investments Co. now owns 163,766 shares of the real estate investment trust’s stock valued at $4,355,000 after acquiring an additional 81,743 shares during the period. 62.78% of the stock is currently owned by institutional investors and hedge funds.

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.