Marcus & Millichap, Inc. $MMI Shares Sold by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC reduced its stake in Marcus & Millichap, selling 8,208 shares for a total holding of approximately $1.44 million, which is about 0.11% of the company's stock.
• Marcus & Millichap reported a quarterly EPS of ($0.28), missing estimates and showing a negative net margin of 1.69% for the latest quarter.
• The company announced a $0.25 dividend to be paid on October 6th, with a significant dividend yield of 160.0%, although it has a negative dividend payout ratio of -161.29%.

Cambiar Investors LLC lessened its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 16.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,706 shares of the real estate investment trust's stock after selling 8,208 shares during the quarter. Cambiar Investors LLC owned 0.11% of Marcus & Millichap worth $1,437,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MMI. Sterling Capital Management LLC grew its position in Marcus & Millichap by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 753 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 670 shares in the last quarter. State of Wyoming acquired a new stake in Marcus & Millichap in the fourth quarter valued at approximately $156,000. Two Sigma Investments LP acquired a new stake in Marcus & Millichap in the fourth quarter valued at approximately $230,000. MQS Management LLC acquired a new stake in Marcus & Millichap in the first quarter valued at approximately $210,000. Finally, ProShare Advisors LLC acquired a new stake in Marcus & Millichap in the fourth quarter valued at approximately $271,000. Institutional investors and hedge funds own 62.78% of the company's stock.

Analyst Upgrades and Downgrades

MMI has been the subject of several research analyst reports. Wall Street Zen cut Marcus & Millichap from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Citizens Jmp initiated coverage on Marcus & Millichap in a research note on Monday, July 21st. They set a "market perform" rating for the company. Finally, JMP Securities initiated coverage on Marcus & Millichap in a research note on Monday, July 21st. They set a "market perform" rating for the company. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $30.00.

Marcus & Millichap Stock Up 5.2%

NYSE MMI traded up $1.5980 during trading hours on Friday, hitting $32.3580. The company had a trading volume of 185,861 shares, compared to its average volume of 124,018. Marcus & Millichap, Inc. has a fifty-two week low of $27.61 and a fifty-two week high of $42.80. The business has a fifty day simple moving average of $31.04 and a 200-day simple moving average of $32.40. The firm has a market cap of $1.26 billion, a P/E ratio of -104.38 and a beta of 1.27.

Marcus & Millichap (NYSE:MMI - Get Free Report) last issued its earnings results on Thursday, August 7th. The real estate investment trust reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.24). Marcus & Millichap had a negative return on equity of 1.99% and a negative net margin of 1.69%.The company had revenue of $172.28 million during the quarter, compared to analyst estimates of $172.60 million.

Marcus & Millichap Announces Dividend

The firm also recently declared a half year 25 dividend, which will be paid on Monday, October 6th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.25 per share. This represents a dividend yield of 160.0%. The ex-dividend date of this dividend is Monday, September 15th. Marcus & Millichap's dividend payout ratio (DPR) is -161.29%.

Marcus & Millichap Profile

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.