Marcus & Millichap (NYSE:MMI) Sets New 12-Month Low - Here's Why

Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $29.72 and last traded at $30.38, with a volume of 110670 shares. The stock had previously closed at $30.81.

Marcus & Millichap Price Performance

The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -92.48 and a beta of 1.17. The business has a fifty day simple moving average of $33.49 and a 200 day simple moving average of $36.85.

Marcus & Millichap (NYSE:MMI - Get Free Report) last posted its quarterly earnings data on Friday, February 14th. The real estate investment trust reported $0.22 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.28. Marcus & Millichap had a negative return on equity of 1.98% and a negative net margin of 1.78%. The firm had revenue of $240.08 million during the quarter. During the same period in the prior year, the company posted ($0.27) earnings per share.

Marcus & Millichap Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, April 4th. Investors of record on Wednesday, March 12th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 12th. This represents a yield of 1.3%. Marcus & Millichap's payout ratio is presently -156.25%.

Insider Activity at Marcus & Millichap

In other news, insider Gregory A. Laberge sold 828 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $38.26, for a total transaction of $31,679.28. Following the transaction, the insider now directly owns 5,222 shares in the company, valued at $199,793.72. The trade was a 13.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 39.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Marcus & Millichap

A number of institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its stake in shares of Marcus & Millichap by 807.2% in the 4th quarter. Sterling Capital Management LLC now owns 753 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 670 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Marcus & Millichap in the fourth quarter valued at about $66,000. State of Wyoming acquired a new stake in Marcus & Millichap during the fourth quarter worth about $156,000. KLP Kapitalforvaltning AS purchased a new position in Marcus & Millichap during the fourth quarter worth about $172,000. Finally, MQS Management LLC acquired a new position in Marcus & Millichap in the 1st quarter valued at about $210,000. Hedge funds and other institutional investors own 62.78% of the company's stock.

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.