Insider Selling: Marcus & Millichap, Inc. (NYSE:MMI) Insider Sells 828 Shares of Stock

Marcus & Millichap, Inc. (NYSE:MMI) insider Gregory A. Laberge sold 828 shares of Marcus & Millichap stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $38.26, for a total value of $31,679.28. Following the completion of the transaction, the insider now owns 5,222 shares in the company, valued at approximately $199,793.72. This represents a 13.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Marcus & Millichap Stock Performance

MMI traded up $0.12 on Tuesday, hitting $38.60. 158,269 shares of the company were exchanged, compared to its average volume of 108,427. The firm has a fifty day simple moving average of $37.44 and a two-hundred day simple moving average of $38.60. The stock has a market capitalization of $1.50 billion, a PE ratio of -120.63 and a beta of 1.16. Marcus & Millichap, Inc. has a 12 month low of $29.93 and a 12 month high of $42.80.

Marcus & Millichap (NYSE:MMI) last issued its earnings results on Friday, February 14th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.28. Marcus & Millichap had a negative net margin of 1.78% and a negative return on equity of 1.98%. The firm had revenue of $240.08 million for the quarter. During the same quarter in the prior year, the business posted ($0.27) EPS.

Marcus & Millichap Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, April 4th. Shareholders of record on Wednesday, March 12th will be given a $0.25 dividend. This represents a dividend yield of 1.3%. The ex-dividend date is Wednesday, March 12th. Marcus & Millichap’s payout ratio is -156.25%.

Hedge Funds Weigh In On Marcus & Millichap

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC grew its stake in shares of Marcus & Millichap by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 753 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 670 shares during the last quarter. R Squared Ltd purchased a new stake in Marcus & Millichap in the 4th quarter worth approximately $66,000. State of Wyoming bought a new stake in shares of Marcus & Millichap in the 4th quarter worth approximately $156,000. KLP Kapitalforvaltning AS purchased a new position in shares of Marcus & Millichap during the fourth quarter valued at approximately $172,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Marcus & Millichap by 8.4% during the third quarter. BNP Paribas Financial Markets now owns 5,165 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 400 shares during the period. 62.78% of the stock is owned by institutional investors.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.