Insider Selling: Marcus & Millichap, Inc. (NYSE:MMI) Director Sells 27,638 Shares of Stock


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Marcus & Millichap, Inc. (NYSE:MMI) Director George M. Marcus sold 27,638 shares of the company’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $34.14, for a total transaction of $943,561.32. Following the completion of the sale, the director now directly owns 22,566 shares of the company’s stock, valued at approximately $770,403.24. The sale was disclosed in a filing with the SEC, which is accessible through this link.

NYSE:MMI opened at $34.64 on Thursday. The company has a market cap of $1.37 billion, a PE ratio of 34.64 and a beta of 1.03. Marcus & Millichap, Inc. has a 12 month low of $23.16 and a 12 month high of $40.89. The company has a 50 day simple moving average of $35.62 and a two-hundred day simple moving average of $34.85.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Thursday, February 18th. The real estate investment trust reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.45. The business had revenue of $250.21 million during the quarter, compared to analysts’ expectations of $169.50 million. Marcus & Millichap had a return on equity of 7.84% and a net margin of 5.67%. During the same quarter in the prior year, the business posted $0.52 earnings per share. As a group, equities analysts predict that Marcus & Millichap, Inc. will post 0.62 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. Public Sector Pension Investment Board raised its stake in Marcus & Millichap by 1.0% during the fourth quarter. Public Sector Pension Investment Board now owns 53,130 shares of the real estate investment trust’s stock valued at $1,978,000 after purchasing an additional 510 shares in the last quarter. Vantage Consulting Group Inc bought a new stake in Marcus & Millichap in the fourth quarter worth about $45,000. Northern Trust Corp lifted its stake in shares of Marcus & Millichap by 0.4% during the 4th quarter. Northern Trust Corp now owns 364,592 shares of the real estate investment trust’s stock worth $13,573,000 after acquiring an additional 1,285 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Marcus & Millichap by 22.3% during the fourth quarter. Citigroup Inc. now owns 7,608 shares of the real estate investment trust’s stock valued at $283,000 after purchasing an additional 1,387 shares during the period. Finally, California Public Employees Retirement System boosted its position in Marcus & Millichap by 2.7% in the 3rd quarter. California Public Employees Retirement System now owns 52,935 shares of the real estate investment trust’s stock valued at $1,457,000 after buying an additional 1,400 shares during the period. Institutional investors own 58.21% of the company’s stock.

Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Tuesday, February 23rd. TheStreet lowered Marcus & Millichap from a “b” rating to a “c+” rating in a research report on Thursday, April 1st.

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.

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