Marcus & Millichap (NYSE:MMI) Cut to Sell at StockNews.com

StockNews.com cut shares of Marcus & Millichap (NYSE:MMI) from a hold rating to a sell rating in a report published on Monday.

Marcus & Millichap Stock Up 2.9 %

Shares of MMI opened at $33.64 on Monday. The company has a market capitalization of $1.29 billion, a P/E ratio of -37.80 and a beta of 1.22. The firm has a 50 day moving average of $36.27 and a 200 day moving average of $34.61. Marcus & Millichap has a twelve month low of $26.81 and a twelve month high of $44.24.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Friday, February 16th. The real estate investment trust reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.01. The company had revenue of $166.24 million during the quarter. Marcus & Millichap had a negative net margin of 5.27% and a negative return on equity of 5.16%.

Marcus & Millichap Dividend Announcement

The business also recently announced a Semi-Annual dividend, which will be paid on Friday, April 5th. Investors of record on Tuesday, March 12th will be issued a $0.25 dividend. The ex-dividend date is Monday, March 11th. This represents a yield of 1.3%. Marcus & Millichap’s dividend payout ratio is currently -56.18%.

Insider Buying and Selling

In related news, COO John David Parker sold 9,716 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $32.83, for a total value of $318,976.28. Following the transaction, the chief operating officer now directly owns 12,376 shares of the company’s stock, valued at approximately $406,304.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO John David Parker sold 9,716 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $32.83, for a total value of $318,976.28. Following the transaction, the chief operating officer now directly owns 12,376 shares of the company’s stock, valued at approximately $406,304.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Richard D. Matricaria sold 9,500 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $33.32, for a total value of $316,540.00. Following the completion of the sale, the chief operating officer now owns 7,078 shares of the company’s stock, valued at approximately $235,838.96. The disclosure for this sale can be found here. 39.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Marcus & Millichap

A number of institutional investors have recently bought and sold shares of MMI. Signaturefd LLC increased its stake in Marcus & Millichap by 112.6% in the 4th quarter. Signaturefd LLC now owns 623 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 330 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Marcus & Millichap in the 2nd quarter worth $58,000. Captrust Financial Advisors increased its stake in Marcus & Millichap by 23.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,825 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 342 shares in the last quarter. West Tower Group LLC purchased a new stake in Marcus & Millichap in the 4th quarter worth $73,000. Finally, Quantbot Technologies LP purchased a new position in shares of Marcus & Millichap during the third quarter valued at about $75,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Company Profile

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.