Norma J. Lawrence Sells 1,123 Shares of Marcus & Millichap, Inc. (NYSE:MMI) Stock

Marcus & Millichap, Inc. (NYSE:MMI) Director Norma J. Lawrence sold 1,123 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $40.00, for a total value of $44,920.00. Following the transaction, the director now owns 24,971 shares of the company’s stock, valued at approximately $998,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Marcus & Millichap Stock Up 2.3 %

Shares of NYSE:MMI opened at $40.70 on Friday. The business’s 50 day moving average is $38.32 and its 200 day moving average is $34.54. The stock has a market cap of $1.57 billion, a P/E ratio of -40.70 and a beta of 1.13. Marcus & Millichap, Inc. has a 52-week low of $26.81 and a 52-week high of $44.24.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $158.37 million for the quarter. Marcus & Millichap had a negative return on equity of 5.50% and a negative net margin of 5.68%.

Marcus & Millichap Announces Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, October 4th. Stockholders of record on Monday, September 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a dividend yield of 1.3%. Marcus & Millichap’s payout ratio is presently -50.00%.

Wall Street Analysts Forecast Growth

MMI has been the subject of a number of research analyst reports. StockNews.com raised Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price target on shares of Marcus & Millichap from $20.00 to $30.00 and gave the stock an “underweight” rating in a report on Friday, September 6th.

Institutional Trading of Marcus & Millichap

A number of hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its position in shares of Marcus & Millichap by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,220 shares of the real estate investment trust’s stock worth $480,000 after buying an additional 750 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new stake in shares of Marcus & Millichap during the 2nd quarter valued at $2,543,000. Public Sector Pension Investment Board boosted its position in shares of Marcus & Millichap by 6.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 52,747 shares of the real estate investment trust’s stock worth $1,663,000 after purchasing an additional 3,357 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Marcus & Millichap during the second quarter worth about $212,000. Finally, WINTON GROUP Ltd lifted its stake in shares of Marcus & Millichap by 4.4% during the second quarter. WINTON GROUP Ltd now owns 29,060 shares of the real estate investment trust’s stock worth $916,000 after buying an additional 1,213 shares during the period. Hedge funds and other institutional investors own 62.78% of the company’s stock.

About Marcus & Millichap

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.