Vanguard Group Inc. Sells 15,446 Shares of Marcus & Millichap, Inc. $MMI

Key Points

• Vanguard Group Inc. reduced its stake in Marcus & Millichap by 0.4%, holding approximately 9.73% of the company, valued at about $131.35 million.
• Wall Street analysts downgraded Marcus & Millichap from a "hold" to a "sell" rating, now holding a consensus target price of $30.00.
• The company reported a loss of ($0.28) EPS in its recent earnings, which fell short of the consensus estimate, and it announced a $0.25 dividend to be distributed in October.

Vanguard Group Inc. decreased its position in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 0.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,812,726 shares of the real estate investment trust's stock after selling 15,446 shares during the quarter. Vanguard Group Inc. owned 9.73% of Marcus & Millichap worth $131,348,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Marcus & Millichap by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,352 shares of the real estate investment trust's stock worth $511,000 after purchasing an additional 474 shares during the last quarter. Heritage Family Offices LLP boosted its holdings in Marcus & Millichap by 7.9% in the first quarter. Heritage Family Offices LLP now owns 7,586 shares of the real estate investment trust's stock worth $261,000 after purchasing an additional 556 shares during the last quarter. Sterling Capital Management LLC boosted its holdings 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 worth $29,000 after purchasing an additional 670 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Marcus & Millichap by 7.0% in the fourth quarter. MetLife Investment Management LLC now owns 14,473 shares of the real estate investment trust's stock worth $554,000 after purchasing an additional 946 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Marcus & Millichap by 18.2% in the fourth quarter. Hsbc Holdings PLC now owns 8,957 shares of the real estate investment trust's stock worth $342,000 after purchasing an additional 1,376 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company's stock.

Analyst Ratings Changes

MMI has been the topic of several research reports. Wall Street Zen cut shares of Marcus & Millichap from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Citizens Jmp began coverage on shares of Marcus & Millichap in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. Finally, JMP Securities began coverage on shares of Marcus & Millichap in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $30.00.

Marcus & Millichap Stock Up 0.7%

MMI traded up $0.24 during trading on Wednesday, hitting $32.79. The company's stock had a trading volume of 91,157 shares, compared to its average volume of 132,985. Marcus & Millichap, Inc. has a one year low of $27.61 and a one year high of $42.80. The firm has a market cap of $1.28 billion, a PE ratio of -105.78 and a beta of 1.27. The business's 50 day simple moving average is $31.22 and its 200-day simple moving average is $32.26.

Marcus & Millichap (NYSE:MMI - Get Free Report) last released its quarterly 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). The business had revenue of $172.28 million during the quarter, compared to the consensus estimate of $172.60 million. Marcus & Millichap had a negative return on equity of 1.99% and a negative net margin of 1.69%.

Marcus & Millichap Announces Dividend

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

Marcus & Millichap Company 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.