Wellington Management Group LLP trimmed its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 369,112 shares of the real estate investment trust's stock after selling 26,173 shares during the quarter. Wellington Management Group LLP owned approximately 0.95% of Marcus & Millichap worth $14,122,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Marcus & Millichap during the fourth quarter worth about $66,000. KLP Kapitalforvaltning AS acquired a new position in shares of Marcus & Millichap in the 4th quarter worth approximately $172,000. BNP Paribas Financial Markets raised its position in shares of Marcus & Millichap by 8.4% during the 3rd 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 in the last quarter. Heritage Family Offices LLP lifted its stake in Marcus & Millichap by 7.1% during the fourth quarter. Heritage Family Offices LLP now owns 7,030 shares of the real estate investment trust's stock worth $269,000 after purchasing an additional 464 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Marcus & Millichap by 5.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,756 shares of the real estate investment trust's stock valued at $297,000 after purchasing an additional 421 shares during the last quarter. 62.78% of the stock is owned by institutional investors and hedge funds.
Marcus & Millichap Stock Performance
Shares of Marcus & Millichap stock traded up $0.62 during trading hours on Monday, reaching $31.44. The company's stock had a trading volume of 4,538 shares, compared to its average volume of 111,601. Marcus & Millichap, Inc. has a one year low of $29.36 and a one year high of $42.80. The company's 50 day simple moving average is $35.80 and its 200 day simple moving average is $37.59. The stock has a market cap of $1.23 billion, a P/E ratio of -98.25 and a beta of 1.17.
Marcus & Millichap (NYSE:MMI - Get Free Report) last issued its earnings results on Friday, February 14th. The real estate investment trust reported $0.22 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.28. Marcus & Millichap had a negative return on equity of 1.98% and a negative net margin of 1.78%. The firm had revenue of $240.08 million for the quarter. During the same period in the prior year, the business earned ($0.27) earnings per share.
Marcus & Millichap Announces Dividend
The company also recently declared a semi-annual dividend, which was paid on Friday, April 4th. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.25 per share. This represents a yield of 1.3%. The ex-dividend date was Wednesday, March 12th. Marcus & Millichap's payout ratio is currently -156.25%.
Insider Activity
In related news, insider Gregory A. Laberge sold 828 shares of Marcus & Millichap stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $38.26, for a total value of $31,679.28. Following the transaction, the insider now directly owns 5,222 shares in the company, valued at $199,793.72. The trade was a 13.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 39.20% of the stock is owned by 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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