Insider Selling: Marcus & Millichap (NYSE:MMI) CEO Sells $15,195.00 in Stock

Marcus & Millichap, Inc. (NYSE:MMI) CEO Hessam Nadji sold 500 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $30.39, for a total transaction of $15,195.00. Following the completion of the sale, the chief executive officer directly owned 480 shares in the company, valued at $14,587.20. This represents a 51.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Marcus & Millichap Price Performance

NYSE:MMI opened at $30.18 on Monday. The firm’s 50-day moving average price is $28.46 and its 200-day moving average price is $27.47. The company has a market capitalization of $1.14 billion, a PE ratio of -3,014.79 and a beta of 1.25. Marcus & Millichap, Inc. has a 1-year low of $24.43 and a 1-year high of $33.62.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $171.47 million for the quarter, compared to analysts’ expectations of $162.20 million. Marcus & Millichap had a negative net margin of 0.08% and a positive return on equity of 0.43%. Marcus & Millichap’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.11) EPS.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MMI shares. Wall Street Zen cut shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings cut shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Marcus & Millichap has an average rating of “Sell” and a consensus target price of $28.00.

Hedge Funds Weigh In On Marcus & Millichap

A number of hedge funds have recently bought and sold shares of the company. Savant Capital LLC lifted its stake in Marcus & Millichap by 5.7% during the 3rd quarter. Savant Capital LLC now owns 9,632 shares of the real estate investment trust’s stock valued at $283,000 after acquiring an additional 519 shares during the period. Hunter Perkins Capital Management LLC lifted its stake in Marcus & Millichap by 1.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 31,130 shares of the real estate investment trust’s stock valued at $850,000 after acquiring an additional 580 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Marcus & Millichap by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock valued at $481,000 after acquiring an additional 600 shares during the period. Illinois Municipal Retirement Fund lifted its stake in Marcus & Millichap by 4.9% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 12,807 shares of the real estate investment trust’s stock valued at $376,000 after acquiring an additional 601 shares during the period. Finally, Intech Investment Management LLC lifted its stake in Marcus & Millichap by 8.1% during the 3rd quarter. Intech Investment Management LLC now owns 10,284 shares of the real estate investment trust’s stock valued at $302,000 after acquiring an additional 767 shares during the period. Institutional investors own 62.78% of the company’s stock.

About Marcus & Millichap

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.