Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $35.34 and traded as high as $38.75. Marcus & Millichap shares last traded at $38.70, with a volume of 70,700 shares changing hands.
Wall Street Analyst Weigh In
A number of research firms recently commented on MMI. Wells Fargo & Company lifted their target price on shares of Marcus & Millichap from $20.00 to $30.00 and gave the stock an "underweight" rating in a research note on Friday, September 6th. StockNews.com upgraded shares of Marcus & Millichap from a "sell" rating to a "hold" rating in a research note on Wednesday, July 24th.
Read Our Latest Analysis on Marcus & Millichap
Marcus & Millichap Stock Performance
The company has a 50 day simple moving average of $38.36 and a two-hundred day simple moving average of $35.36. The firm has a market cap of $1.47 billion, a PE ratio of -42.12 and a beta of 1.13.
Marcus & Millichap (NYSE:MMI - Get Free Report) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.01. Marcus & Millichap had a negative return on equity of 5.50% and a negative net margin of 5.68%. The firm had revenue of $158.37 million for the quarter.
Marcus & Millichap Announces Dividend
The firm also recently announced a Semi-Annual dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 16th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, September 16th. This represents a dividend yield of 1.3%. Marcus & Millichap's dividend payout ratio (DPR) is presently -54.95%.
Insider Activity at Marcus & Millichap
In other Marcus & Millichap news, CEO Hessam Nadji sold 659 shares of Marcus & Millichap stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $40.33, for a total transaction of $26,577.47. Following the completion of the transaction, the chief executive officer now owns 209,123 shares in the company, valued at approximately $8,433,930.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Hessam Nadji sold 659 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $40.33, for a total transaction of $26,577.47. Following the sale, the chief executive officer now owns 209,123 shares of the company's stock, valued at $8,433,930.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Norma J. Lawrence sold 1,123 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. Following the sale, the director now directly owns 24,971 shares in the company, valued at $998,840. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,023 shares of company stock worth $603,521 over the last three months. Company insiders own 39.20% of the company's stock.
Hedge Funds Weigh In On Marcus & Millichap
Several institutional investors and hedge funds have recently modified their holdings of MMI. Allspring Global Investments Holdings LLC acquired a new stake in Marcus & Millichap in the first quarter valued at approximately $85,000. EntryPoint Capital LLC purchased a new position in shares of Marcus & Millichap during the 1st quarter valued at approximately $85,000. LRI Investments LLC acquired a new stake in Marcus & Millichap in the 1st quarter valued at $143,000. Heritage Family Offices LLP purchased a new stake in Marcus & Millichap in the 2nd quarter worth $207,000. Finally, Hsbc Holdings PLC acquired a new position in Marcus & Millichap during the second quarter worth $212,000. Hedge funds and other institutional investors own 62.78% of the company's stock.
About Marcus & Millichap
(
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Marcus & Millichap, Inc, an investment brokerage company, provides real estate 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, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.
Further Reading
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