Charles Schwab Investment Management Inc. Grows Stock Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

Charles Schwab Investment Management Inc. raised its position in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 403,560 shares of the real estate investment trust's stock after buying an additional 18,785 shares during the period. Charles Schwab Investment Management Inc. owned 1.04% of Marcus & Millichap worth $15,440,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Barclays PLC increased its position in shares of Marcus & Millichap by 104.7% during the third quarter. Barclays PLC now owns 60,379 shares of the real estate investment trust's stock valued at $2,393,000 after acquiring an additional 30,884 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Marcus & Millichap during the 4th quarter valued at $830,000. BNP Paribas Financial Markets raised its stake in shares of Marcus & Millichap by 8.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,165 shares of the real estate investment trust's stock worth $205,000 after purchasing an additional 400 shares during the period. Reinhart Partners LLC. boosted its holdings in shares of Marcus & Millichap by 4.0% in the 4th quarter. Reinhart Partners LLC. now owns 1,909,491 shares of the real estate investment trust's stock worth $73,057,000 after buying an additional 73,792 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Marcus & Millichap by 10.4% during the third quarter. Franklin Resources Inc. now owns 15,753 shares of the real estate investment trust's stock valued at $580,000 after buying an additional 1,478 shares during the period. Hedge funds and other institutional investors own 62.78% of the company's stock.

Remove Ads

Marcus & Millichap Stock Up 2.8 %

NYSE MMI traded up $1.00 during trading hours on Monday, reaching $36.41. 142,612 shares of the company were exchanged, compared to its average volume of 95,935. The stock has a market capitalization of $1.43 billion, a P/E ratio of -113.77 and a beta of 1.15. Marcus & Millichap, Inc. has a 1 year low of $29.93 and a 1 year high of $42.80. The business's 50 day simple moving average is $37.15 and its 200-day simple moving average is $38.34.

Marcus & Millichap (NYSE:MMI - Get Free Report) last issued its quarterly earnings results on Friday, February 14th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.28. Marcus & Millichap had a negative net margin of 1.78% and a negative return on equity of 1.98%. The company had revenue of $240.08 million during the quarter. During the same quarter in the previous year, the business earned ($0.27) EPS.

Marcus & Millichap Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Friday, April 4th. Shareholders of record on Wednesday, March 12th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a dividend yield of 1.3%. Marcus & Millichap's payout ratio is presently -156.25%.

Insider Activity

In related news, insider Gregory A. Laberge sold 828 shares of Marcus & Millichap stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $38.26, for a total value of $31,679.28. Following the completion of the sale, the insider now owns 5,222 shares of the company's stock, valued at approximately $199,793.72. This trade represents a 13.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 39.20% of the company's stock.

About Marcus & Millichap

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.