Marcus & Millichap (NYSE:MMI) Director George M. Marcus sold 22,039 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $37.51, for a total transaction of $826,682.89. Following the transaction, the director now directly owns 18,021 shares of the company’s stock, valued at $675,967.71. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Marcus & Millichap traded down $0.01, hitting $37.60, during trading on Friday, MarketBeat Ratings reports. 3,417 shares of the stock traded hands, compared to its average volume of 168,731. Marcus & Millichap has a one year low of $37.58 and a one year high of $37.83. The company has a market capitalization of $1.45 billion, a P/E ratio of 23.22, a P/E/G ratio of 3.15 and a beta of 1.32. The company has a quick ratio of 6.40, a current ratio of 6.40 and a debt-to-equity ratio of 0.02.
Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Tuesday, May 8th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.08. Marcus & Millichap had a net margin of 7.76% and a return on equity of 22.22%. The firm had revenue of $174.54 million during the quarter, compared to the consensus estimate of $160.85 million. During the same period last year, the firm posted $0.31 EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. research analysts expect that Marcus & Millichap will post 1.99 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. OppenheimerFunds Inc. bought a new position in Marcus & Millichap during the 4th quarter valued at about $355,000. Schwab Charles Investment Management Inc. lifted its holdings in Marcus & Millichap by 105.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 110,811 shares of the real estate investment trust’s stock valued at $3,614,000 after purchasing an additional 56,803 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Marcus & Millichap by 104.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 121,289 shares of the real estate investment trust’s stock valued at $3,955,000 after purchasing an additional 61,889 shares during the last quarter. Millennium Management LLC lifted its holdings in Marcus & Millichap by 364.8% during the 4th quarter. Millennium Management LLC now owns 347,862 shares of the real estate investment trust’s stock valued at $11,344,000 after purchasing an additional 273,022 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Marcus & Millichap by 108.8% during the 4th quarter. Schroder Investment Management Group now owns 30,095 shares of the real estate investment trust’s stock valued at $981,000 after purchasing an additional 15,683 shares during the last quarter. 45.67% of the stock is owned by hedge funds and other institutional investors.
MMI has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, March 14th. JMP Securities raised shares of Marcus & Millichap from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 24th. ValuEngine raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a report on Saturday, March 10th. Wells Fargo set a $37.00 price objective on shares of Marcus & Millichap and gave the stock a “hold” rating in a report on Wednesday, March 21st. Finally, William Blair reaffirmed a “market perform” rating on shares of Marcus & Millichap in a report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Marcus & Millichap currently has an average rating of “Buy” and a consensus target price of $38.50.
About Marcus & Millichap
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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