Marcus & Millichap (NYSE:MMI) CEO Hessam Nadji Sells 1,300 Shares

Marcus & Millichap, Inc. (NYSE:MMI) CEO Hessam Nadji sold 1,300 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $25.60, for a total transaction of $33,280.00. Following the completion of the sale, the chief executive officer owned 480 shares in the company, valued at $12,288. This represents a 73.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Marcus & Millichap Price Performance

Shares of NYSE:MMI opened at $25.89 on Tuesday. The firm has a fifty day moving average price of $26.38 and a two-hundred day moving average price of $28.43. The company has a market cap of $989.88 million, a price-to-earnings ratio of -647.09 and a beta of 1.32. Marcus & Millichap, Inc. has a one year low of $24.43 and a one year high of $36.70.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Friday, February 13th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.12. Marcus & Millichap had a negative net margin of 0.25% and a positive return on equity of 0.20%. The firm had revenue of $243.95 million for the quarter, compared to analysts’ expectations of $229.45 million.

Marcus & Millichap Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, April 3rd. Shareholders of record on Friday, March 13th will be paid a $0.25 dividend. This represents a yield of 196.0%. The ex-dividend date is Friday, March 13th. Marcus & Millichap’s dividend payout ratio is currently -1,250.00%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MMI shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marcus & Millichap in a research report on Monday, December 29th. Wells Fargo & Company decreased their price objective on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating on the stock in a research report on Monday, February 2nd. Finally, Wall Street Zen lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Sell” and a consensus target price of $28.00.

Hedge Funds Weigh In On Marcus & Millichap

Large investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC bought a new stake in Marcus & Millichap in the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Marcus & Millichap by 79,800.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,598 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,596 shares during the last quarter. CWM LLC increased its stake in shares of Marcus & Millichap by 299.6% in the third quarter. CWM LLC now owns 3,261 shares of the real estate investment trust’s stock worth $96,000 after buying an additional 2,445 shares during the period. LRI Investments LLC increased its stake in shares of Marcus & Millichap by 316.2% in the third quarter. LRI Investments LLC now owns 3,484 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 2,647 shares during the period. Finally, Strs Ohio bought a new stake in Marcus & Millichap during the 1st quarter valued at $145,000. 62.78% of the stock is owned by hedge funds and other institutional investors.

About Marcus & Millichap

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.