Tributary Capital Management LLC Sells 57,067 Shares of Marcus & Millichap, Inc. $MMI

Key Points

• Tributary Capital Management cut its stake in Marcus & Millichap by 8.5%, selling 57,067 shares and now holding 612,480 shares (about 1.57% of the company) valued at roughly $16.7M; institutional investors own about 62.78% of the stock.
• Analyst sentiment is mixed-to-negative overall — MarketBeat's consensus rating is "Sell" with an average price target of $28.00, though recent notes ranged from Weiss and Wells Fargo downgrades to a buy upgrade from Wall Street Zen.

Tributary Capital Management LLC lowered its position in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 612,480 shares of the real estate investment trust's stock after selling 57,067 shares during the quarter. Marcus & Millichap makes up about 1.6% of Tributary Capital Management LLC's portfolio, making the stock its 26th biggest position. Tributary Capital Management LLC owned approximately 1.57% of Marcus & Millichap worth $16,715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Savant Capital LLC grew its stake in Marcus & Millichap by 5.7% in the third quarter. Savant Capital LLC now owns 9,632 shares of the real estate investment trust's stock worth $283,000 after purchasing an additional 519 shares in the last quarter. Hunter Perkins Capital Management LLC grew its stake in Marcus & Millichap by 1.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 31,130 shares of the real estate investment trust's stock worth $850,000 after purchasing an additional 580 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Marcus & Millichap by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust's stock worth $481,000 after purchasing an additional 600 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in Marcus & Millichap by 4.9% in the third quarter. Illinois Municipal Retirement Fund now owns 12,807 shares of the real estate investment trust's stock worth $376,000 after purchasing an additional 601 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in Marcus & Millichap by 6.4% in the third quarter. AlphaQuest LLC now owns 11,649 shares of the real estate investment trust's stock worth $342,000 after purchasing an additional 696 shares in the last quarter. Institutional investors own 62.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Weiss Ratings reissued a "sell (d+)" rating on shares of Marcus & Millichap in a research note on Friday, March 27th. Wells Fargo & Company dropped their target price on Marcus & Millichap from $29.00 to $28.00 and set an "underweight" rating on the stock in a research report on Monday, February 2nd. Finally, Wall Street Zen raised Marcus & Millichap from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Sell" and an average price target of $28.00.

Marcus & Millichap Price Performance

Marcus & Millichap stock opened at $27.72 on Friday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -692.78 and a beta of 1.31. Marcus & Millichap, Inc. has a 1-year low of $24.43 and a 1-year high of $33.62. The business has a fifty day moving average price of $26.22 and a 200-day moving average price of $27.56.

Marcus & Millichap (NYSE:MMI - Get Free Report) last posted its quarterly earnings data on Friday, February 13th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.12. The firm had revenue of $243.95 million during the quarter, compared to analysts' expectations of $229.45 million. Marcus & Millichap had a positive return on equity of 0.20% and a negative net margin of 0.25%.

Marcus & Millichap Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, April 3rd. Stockholders of record on Friday, March 13th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a dividend yield of 196.0%. Marcus & Millichap's dividend payout ratio (DPR) is presently -1,250.00%.

Insider Buying and Selling at Marcus & Millichap

In other news, CEO Hessam Nadji sold 1,300 shares of the firm's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $25.60, for a total value of $33,280.00. Following the completion of the sale, the chief executive officer owned 480 shares of the company's stock, valued at $12,288. This trade represents a 73.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 39.20% of the stock is owned by insiders.

About Marcus & Millichap

Marcus & Millichap NYSE: MMI is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.

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