Marcus & Millichap Inc (MMI) Director Sells $5,239,500.00 in Stock

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Marcus & Millichap Inc (NYSE:MMI) Director George M. Marcus sold 150,000 shares of Marcus & Millichap stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $34.93, for a total value of $5,239,500.00. Following the completion of the transaction, the director now owns 18,021 shares in the company, valued at approximately $629,473.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of MMI stock opened at $35.11 on Wednesday. Marcus & Millichap Inc has a fifty-two week low of $28.66 and a fifty-two week high of $41.45. The stock has a market cap of $1.35 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 2.94 and a beta of 1.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.69 and a current ratio of 5.69.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Tuesday, August 7th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.04. Marcus & Millichap had a return on equity of 23.06% and a net margin of 8.44%. The business had revenue of $199.40 million for the quarter, compared to analyst estimates of $194.60 million. Sell-side analysts predict that Marcus & Millichap Inc will post 1.99 EPS for the current year.

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Marcus & Millichap by 1,029.1% during the first quarter. Royal Bank of Canada now owns 5,160 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 4,703 shares during the last quarter. Zacks Investment Management purchased a new stake in shares of Marcus & Millichap during the second quarter worth about $246,000. California Public Employees Retirement System purchased a new stake in shares of Marcus & Millichap during the second quarter worth about $246,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Marcus & Millichap during the first quarter worth about $258,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Marcus & Millichap during the second quarter worth about $295,000. Institutional investors and hedge funds own 50.88% of the company’s stock.

Several research firms have issued reports on MMI. JMP Securities lowered Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 22nd. Zacks Investment Research lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Saturday, August 11th. Finally, ValuEngine lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Marcus & Millichap presently has an average rating of “Hold” and a consensus price target of $42.67.

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Marcus & Millichap Company Profile

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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