Marcus & Millichap, Inc. (NYSE:MMI) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 5.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,220 shares of the real estate investment trust’s stock after buying an additional 750 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Marcus & Millichap were worth $480,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MMI. Allspring Global Investments Holdings LLC acquired a new stake in shares of Marcus & Millichap during the first quarter worth about $85,000. EntryPoint Capital LLC acquired a new stake in shares of Marcus & Millichap during the first quarter worth about $85,000. LRI Investments LLC acquired a new stake in shares of Marcus & Millichap during the first quarter worth about $143,000. Scharf Investments LLC lifted its position in shares of Marcus & Millichap by 18.8% during the first quarter. Scharf Investments LLC now owns 5,905 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 933 shares in the last quarter. Finally, Heritage Family Offices LLP acquired a new stake in shares of Marcus & Millichap during the second quarter worth about $207,000. Institutional investors and hedge funds own 62.78% of the company’s stock.

Marcus & Millichap Stock Up 2.4 %

Shares of NYSE:MMI opened at $38.03 on Thursday. The firm’s 50 day moving average price is $38.33 and its 200 day moving average price is $35.20. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -38.03 and a beta of 1.13. Marcus & Millichap, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $44.24.

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

Marcus & Millichap Dividend Announcement

The company also recently announced a Semi-Annual dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 16th were issued a $0.25 dividend. The ex-dividend date was Monday, September 16th. This represents a yield of 1.3%. Marcus & Millichap’s dividend payout ratio (DPR) is -50.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MMI. Wells Fargo & Company increased their price target on shares of Marcus & Millichap from $20.00 to $30.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. StockNews.com raised shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th.

Insider Activity at Marcus & Millichap

In related news, CEO Hessam Nadji sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $40.03, for a total value of $32,024.00. Following the sale, the chief executive officer now owns 223,323 shares of the company’s stock, valued at $8,939,619.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Marcus & Millichap news, CEO Hessam Nadji sold 800 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $40.03, for a total value of $32,024.00. Following the transaction, the chief executive officer now directly owns 223,323 shares in the company, valued at $8,939,619.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Norma J. Lawrence sold 1,123 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. Following the completion of the transaction, the director now owns 24,971 shares in the company, valued at $998,840. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,823 shares of company stock valued at $635,545 over the last 90 days. 39.20% of the stock is owned by corporate insiders.

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.