JPMorgan Chase & Co. Increases Stake in Marcus & Millichap, Inc. (NYSE:MMI)

JPMorgan Chase & Co. lifted its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 61.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 123,089 shares of the real estate investment trust's stock after buying an additional 46,865 shares during the quarter. JPMorgan Chase & Co. owned about 0.32% of Marcus & Millichap worth $4,709,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Marcus & Millichap by 104.7% during the 3rd quarter. Barclays PLC now owns 60,379 shares of the real estate investment trust's stock worth $2,393,000 after purchasing an additional 30,884 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Marcus & Millichap in the 4th quarter valued at $830,000. Amundi boosted its stake in shares of Marcus & Millichap by 195.4% during the fourth quarter. Amundi now owns 11,687 shares of the real estate investment trust's stock valued at $408,000 after purchasing an additional 7,730 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Marcus & Millichap by 4.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 403,560 shares of the real estate investment trust's stock worth $15,440,000 after buying an additional 18,785 shares during the last quarter. Finally, Reinhart Partners LLC. lifted its holdings in Marcus & Millichap by 4.0% in the fourth 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 period. 62.78% of the stock is owned by institutional investors and hedge funds.

Marcus & Millichap Stock Down 1.8 %

Shares of MMI stock traded down $0.56 during trading hours on Monday, hitting $30.69. 120,253 shares of the company's stock traded hands, compared to its average volume of 102,005. Marcus & Millichap, Inc. has a 12-month low of $29.36 and a 12-month high of $42.80. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -95.91 and a beta of 1.17. The stock's fifty day simple moving average is $35.05 and its two-hundred day simple moving average is $37.28.

Marcus & Millichap (NYSE:MMI - Get Free Report) last announced its quarterly earnings data on Friday, February 14th. The real estate investment trust reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates 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 firm earned ($0.27) earnings per share.

Marcus & Millichap Announces Dividend

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

Insider Activity

In other Marcus & Millichap news, insider Gregory A. Laberge sold 2,915 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $34.78, for a total transaction of $101,383.70. Following the completion of the transaction, the insider now owns 2,307 shares in the company, valued at $80,237.46. The trade was a 55.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 39.20% of the company's stock.

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.