Russell Investments Group Ltd. Sells 24,288 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Russell Investments Group Ltd. lowered its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 13.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,019 shares of the real estate investment trust's stock after selling 24,288 shares during the quarter. Russell Investments Group Ltd. owned about 0.40% of Marcus & Millichap worth $5,969,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Marcus & Millichap during the 4th quarter worth about $66,000. KLP Kapitalforvaltning AS bought a new position in Marcus & Millichap during the fourth quarter valued at about $172,000. BNP Paribas Financial Markets increased its stake in Marcus & Millichap by 8.4% during 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 acquiring an additional 400 shares during the period. Heritage Family Offices LLP raised its holdings in Marcus & Millichap by 7.1% in the 4th quarter. Heritage Family Offices LLP now owns 7,030 shares of the real estate investment trust's stock valued at $269,000 after acquiring an additional 464 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Marcus & Millichap by 5.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,756 shares of the real estate investment trust's stock worth $297,000 after acquiring an additional 421 shares during the period. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Marcus & Millichap Stock Performance

Shares of NYSE:MMI traded up $0.45 during trading on Friday, hitting $31.24. 128,916 shares of the stock were exchanged, compared to its average volume of 101,936. The company's fifty day simple moving average is $35.17 and its 200-day simple moving average is $37.33. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -97.61 and a beta of 1.17. Marcus & Millichap, Inc. has a 1-year low of $29.36 and a 1-year high of $42.80.

Marcus & Millichap (NYSE:MMI - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $240.08 million for the quarter. During the same quarter in the prior year, the firm earned ($0.27) EPS.

Marcus & Millichap Announces Dividend

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

Insider Activity at Marcus & Millichap

In other news, insider Gregory A. Laberge sold 2,915 shares of Marcus & Millichap stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $34.78, for a total value of $101,383.70. Following the completion of the transaction, the insider now owns 2,307 shares in the company, valued at approximately $80,237.46. The trade was a 55.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 39.20% of the stock is currently owned by 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.