Marcus & Millichap, Inc. (NYSE:MMI) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its holdings in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 576,377 shares of the real estate investment trust's stock after selling 7,320 shares during the quarter. Pzena Investment Management LLC owned 1.48% of Marcus & Millichap worth $22,052,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its position in Marcus & Millichap by 6.3% during the third quarter. Janney Montgomery Scott LLC now owns 23,421 shares of the real estate investment trust's stock worth $928,000 after purchasing an additional 1,392 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Marcus & Millichap by 6.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 8,651 shares of the real estate investment trust's stock valued at $343,000 after purchasing an additional 530 shares during the last quarter. Royce & Associates LP increased its stake in Marcus & Millichap by 0.3% in the third quarter. Royce & Associates LP now owns 2,303,153 shares of the real estate investment trust's stock valued at $91,274,000 after purchasing an additional 6,000 shares during the last quarter. Natixis Advisors LLC increased its stake in Marcus & Millichap by 15.7% during the third quarter. Natixis Advisors LLC now owns 21,377 shares of the real estate investment trust's stock worth $847,000 after acquiring an additional 2,895 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Marcus & Millichap by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 384,775 shares of the real estate investment trust's stock worth $15,249,000 after acquiring an additional 12,401 shares during the last quarter. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

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Marcus & Millichap Trading Up 0.2 %

NYSE:MMI traded up $0.06 on Friday, hitting $34.43. 95,069 shares of the stock were exchanged, compared to its average volume of 105,490. Marcus & Millichap, Inc. has a fifty-two week low of $29.93 and a fifty-two week high of $42.80. The stock has a market cap of $1.34 billion, a PE ratio of -107.59 and a beta of 1.15. The stock has a fifty day moving average of $37.14 and a 200-day moving average of $38.47.

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

Marcus & Millichap Dividend Announcement

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

Insider Activity at Marcus & Millichap

In other Marcus & Millichap news, insider Gregory A. Laberge sold 828 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $38.26, for a total transaction of $31,679.28. Following the transaction, the insider now owns 5,222 shares of the company's stock, valued at $199,793.72. This trade represents a 13.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 39.20% of the stock is currently owned by company insiders.

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.