Heritage Wealth Management LLC Takes Position in Marcus & Millichap, Inc. (NYSE:MMI)

Heritage Wealth Management LLC bought a new stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,789 shares of the real estate investment trust’s stock, valued at approximately $297,000.

Several other large investors have also recently made changes to their positions in MMI. Reinhart Partners LLC. boosted its stake in shares of Marcus & Millichap by 10.1% during the 4th quarter. Reinhart Partners LLC. now owns 1,457,609 shares of the real estate investment trust’s stock worth $63,668,000 after acquiring an additional 133,308 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Marcus & Millichap by 2.2% in the third quarter. Lord Abbett & CO. LLC now owns 972,945 shares of the real estate investment trust’s stock worth $28,546,000 after acquiring an additional 21,100 shares in the last quarter. FMR LLC lifted its position in shares of Marcus & Millichap by 132.3% during the 3rd quarter. FMR LLC now owns 816,916 shares of the real estate investment trust’s stock worth $23,968,000 after purchasing an additional 465,237 shares during the last quarter. Jennison Associates LLC lifted its position in Marcus & Millichap by 109.1% in the fourth quarter. Jennison Associates LLC now owns 466,327 shares of the real estate investment trust’s stock valued at $20,369,000 after acquiring an additional 243,281 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Marcus & Millichap by 5.4% in the third quarter. Wellington Management Group LLP now owns 400,342 shares of the real estate investment trust’s stock valued at $11,746,000 after acquiring an additional 20,420 shares during the last quarter. 62.78% of the stock is owned by institutional investors.

Insider Transactions at Marcus & Millichap

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

Marcus & Millichap Stock Up 2.3 %

Shares of MMI traded up $0.75 during midday trading on Friday, hitting $33.31. The company had a trading volume of 29,714 shares, compared to its average volume of 166,363. Marcus & Millichap, Inc. has a 52 week low of $26.81 and a 52 week high of $44.24. The company’s 50 day moving average price is $33.31 and its 200 day moving average price is $35.02. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -36.58 and a beta of 1.20.

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

Marcus & Millichap Dividend Announcement

The firm also recently disclosed a Semi-Annual dividend, which was paid on Friday, April 5th. Stockholders of record on Tuesday, March 12th were paid a $0.25 dividend. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, March 11th. Marcus & Millichap’s dividend payout ratio is -56.18%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research report on Monday, March 25th.

Marcus & Millichap 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.