Cambiar Investors LLC Trims Stock Position in Marcus & Millichap, Inc. $MMI

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 Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 16.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Reinhart Partners LLC. grew its holdings in Marcus & Millichap by 13.3% in the 1st quarter. Reinhart Partners LLC. now owns 2,162,935 shares of the real estate investment trust's stock worth $74,513,000 after acquiring an additional 253,444 shares during the last quarter. Nuveen LLC bought a new stake in Marcus & Millichap in the 1st quarter worth $2,570,000. JPMorgan Chase & Co. grew its holdings in Marcus & Millichap by 61.5% in the 4th quarter. JPMorgan Chase & Co. now owns 123,089 shares of the real estate investment trust's stock worth $4,709,000 after acquiring an additional 46,865 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Marcus & Millichap by 25.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 191,689 shares of the real estate investment trust's stock worth $6,604,000 after acquiring an additional 39,235 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Marcus & Millichap in the 1st quarter worth about $1,122,000. Hedge funds and other institutional investors own 62.78% of the company's stock.

Marcus & Millichap Stock Up 5.2%

Shares of MMI stock traded up $1.5980 during trading hours on Friday, hitting $32.3580. 185,861 shares of the company's stock traded hands, compared to its average volume of 125,202. Marcus & Millichap, Inc. has a 12-month low of $27.61 and a 12-month high of $42.80. The stock's fifty day simple moving average is $31.10 and its two-hundred day simple moving average is $32.37. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -104.38 and a beta of 1.27.

Marcus & Millichap (NYSE:MMI - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.24). Marcus & Millichap had a negative net margin of 1.69% and a negative return on equity of 1.99%. The firm had revenue of $172.28 million for the quarter, compared to analysts' expectations of $172.60 million.

Marcus & Millichap Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Citizens Jmp assumed coverage on shares of Marcus & Millichap in a research report on Monday, July 21st. They issued a "market perform" rating for the company. Wall Street Zen cut shares of Marcus & Millichap from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, JMP Securities started coverage on shares of Marcus & Millichap in a research report on Monday, July 21st. They issued a "market perform" rating for the company. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $30.00.

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.