Goldman Sachs Group Inc. Has $4.59 Million Stock Holdings in Marcus & Millichap, Inc. $MMI

Key Points

• Goldman Sachs Group Inc. reduced its stake in Marcus & Millichap by 27.1%, now owning 133,313 shares valued at approximately $4.59 million.
• Despite institutional movements, several brokerages downgraded Marcus & Millichap, with Wall Street Zen cut its rating from "hold" to "sell" on August 9.
• The company recently declared a $0.25 per share dividend, set for payment on October 6, reflecting a dividend yield of 156.0%.

Goldman Sachs Group Inc. trimmed its stake in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 27.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,313 shares of the real estate investment trust's stock after selling 49,483 shares during the period. Goldman Sachs Group Inc. owned about 0.34% of Marcus & Millichap worth $4,593,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MMI. AlphaQuest LLC boosted its position in shares of Marcus & Millichap by 410.6% during the 1st quarter. AlphaQuest LLC now owns 2,931 shares of the real estate investment trust's stock valued at $101,000 after acquiring an additional 2,357 shares in the last quarter. Strs Ohio acquired a new stake in shares of Marcus & Millichap during the 1st quarter valued at about $145,000. State of Wyoming acquired a new stake in shares of Marcus & Millichap during the 4th quarter valued at about $156,000. MQS Management LLC acquired a new stake in shares of Marcus & Millichap during the 1st quarter valued at about $210,000. Finally, Two Sigma Investments LP bought a new position in Marcus & Millichap during the 4th quarter valued at about $230,000. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Marcus & Millichap from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Citizens Jmp assumed coverage on shares of Marcus & Millichap in a report on Monday, July 21st. They set a "market perform" rating for the company. Finally, JMP Securities assumed coverage on shares of Marcus & Millichap in a report on Monday, July 21st. They set a "market perform" rating for the company. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold".

Marcus & Millichap Trading Down 2.5%

Shares of NYSE:MMI traded down $0.82 during trading on Friday, hitting $31.53. 295,369 shares of the company's stock were exchanged, compared to its average volume of 103,829. Marcus & Millichap, Inc. has a 1-year low of $27.61 and a 1-year high of $42.80. The firm has a market cap of $1.23 billion, a P/E ratio of -101.71 and a beta of 1.29. The firm has a 50-day moving average price of $31.56 and a two-hundred day moving average price of $31.57.

Marcus & Millichap (NYSE:MMI - Get Free Report) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $172.60 million.

Marcus & Millichap Dividend Announcement

The business 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 $0.25 dividend. This represents a dividend yield of 156.0%. The ex-dividend date is Monday, September 15th. Marcus & Millichap's dividend payout ratio 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.