Proficio Capital Partners LLC acquired a new stake in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 21,693 shares of the real estate investment trust's stock, valued at approximately $830,000. Proficio Capital Partners LLC owned about 0.06% of Marcus & Millichap as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in Marcus & Millichap in the fourth quarter valued at approximately $66,000. BNP Paribas Financial Markets lifted its position in Marcus & Millichap by 8.4% in the third quarter. BNP Paribas Financial Markets now owns 5,165 shares of the real estate investment trust's stock valued at $205,000 after purchasing an additional 400 shares during the last quarter. Heritage Family Offices LLP lifted its position in Marcus & Millichap by 7.1% in the fourth quarter. Heritage Family Offices LLP now owns 7,030 shares of the real estate investment trust's stock valued at $269,000 after purchasing an additional 464 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position 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. Finally, Handelsbanken Fonder AB lifted its position in Marcus & Millichap by 11.6% in the fourth quarter. Handelsbanken Fonder AB now owns 8,666 shares of the real estate investment trust's stock valued at $332,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 62.78% of the company's stock.
Marcus & Millichap Trading Down 3.6 %
MMI stock traded down $1.38 during midday trading on Friday, hitting $37.37. The company had a trading volume of 71,673 shares, compared to its average volume of 107,842. Marcus & Millichap, Inc. has a 52 week low of $29.93 and a 52 week high of $42.80. The stock's 50 day moving average price is $37.45 and its 200 day moving average price is $38.61. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -116.78 and a beta of 1.15.
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, beating the consensus estimate of ($0.06) by $0.28. The firm 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 in the previous year, the firm posted ($0.27) EPS.
Marcus & Millichap Dividend Announcement
The firm also recently announced a semi-annual dividend, which will be paid on Friday, April 4th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 12th. This represents a dividend yield of 1.3%. Marcus & Millichap's dividend payout ratio is presently -156.25%.
Insider Activity at Marcus & Millichap
In related news, insider Gregory A. Laberge sold 828 shares of the company's 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 completion of the transaction, the insider now owns 5,222 shares in the company, valued at $199,793.72. This represents a 13.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 39.20% of the stock is owned by corporate insiders.
Marcus & Millichap Profile
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Free Report)
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.
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