George M. Marcus Sells 22,039 Shares of Marcus & Millichap (MMI) Stock

Marcus & Millichap (NYSE:MMI) Director George M. Marcus sold 22,039 shares of the stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $37.51, for a total value of $826,682.89. Following the completion of the transaction, the director now owns 18,021 shares of the company’s stock, valued at $675,967.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Marcus & Millichap traded down $0.03, hitting $37.61, during midday trading on Thursday, according to Marketbeat. 236,200 shares of the stock were exchanged, compared to its average volume of 168,731. Marcus & Millichap has a 52-week low of $37.58 and a 52-week high of $37.83. The firm has a market cap 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 released its quarterly earnings results on Tuesday, May 8th. The real estate investment trust reported $0.46 EPS for the quarter, topping the consensus estimate of $0.38 by $0.08. Marcus & Millichap had a return on equity of 22.22% and a net margin of 7.76%. The business had revenue of $174.54 million during the quarter, compared to analyst estimates of $160.85 million. During the same period last year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 13.9% on a year-over-year basis. sell-side analysts expect that Marcus & Millichap will post 1.99 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MMI. Advisor Group Inc. boosted its position in shares of Marcus & Millichap by 98.1% during the fourth quarter. Advisor Group Inc. now owns 3,368 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 1,668 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in shares of Marcus & Millichap during the first quarter worth $166,000. D.A. Davidson & CO. purchased a new position in shares of Marcus & Millichap during the first quarter worth $204,000. MetLife Investment Advisors LLC purchased a new position in shares of Marcus & Millichap during the fourth quarter worth $211,000. Finally, Koch Industries Inc. purchased a new position in shares of Marcus & Millichap during the first quarter worth $211,000. Institutional investors and hedge funds own 45.67% of the company’s stock.

MMI has been the subject of several analyst reports. Zacks Investment Research upgraded Marcus & Millichap from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, March 14th. ValuEngine upgraded Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Saturday, March 10th. Wells Fargo set a $37.00 price objective on Marcus & Millichap and gave the stock a “hold” rating in a research report on Wednesday, March 21st. William Blair reiterated a “market perform” rating on shares of Marcus & Millichap in a research report on Thursday, February 1st. Finally, JMP Securities upgraded Marcus & Millichap from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $38.50.

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.

Insider Buying and Selling by Quarter for Marcus & Millichap (NYSE:MMI)

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