Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $27.54 and traded as high as $28.67. Marcus & Millichap shares last traded at $28.4460, with a volume of 201,943 shares trading hands.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on MMI. Wall Street Zen upgraded Marcus & Millichap from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. Wells Fargo & Company dropped their price objective on Marcus & Millichap from $29.00 to $28.00 and set an "underweight" rating for the company in a report on Monday, February 2nd. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Marcus & Millichap in a research note on Friday, March 27th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Sell" and an average price target of $28.00.
Get Our Latest Stock Report on Marcus & Millichap
Marcus & Millichap Stock Up 0.7%
The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -710.97 and a beta of 1.31. The stock's fifty day moving average is $26.45 and its 200-day moving average is $27.54.
Marcus & Millichap (NYSE:MMI - Get Free Report) last posted its earnings results on Friday, February 13th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.12. Marcus & Millichap had a negative net margin of 0.25% and a positive return on equity of 0.20%. The company had revenue of $243.95 million for the quarter, compared to analyst estimates of $229.45 million.
Marcus & Millichap Dividend Announcement
The firm also recently declared a dividend, which was paid on Friday, April 3rd. Stockholders of record on Friday, March 13th were given a dividend of $0.25 per share. 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 currently -1,250.00%.
Insider Activity
In related news, CEO Hessam Nadji sold 1,300 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 480 shares in the company, valued at approximately $12,288. The trade was a 73.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 39.89% of the company's stock.
Institutional Investors Weigh In On Marcus & Millichap
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Savant Capital LLC grew its position 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 valued at $283,000 after purchasing an additional 519 shares in the last quarter. Hunter Perkins Capital Management LLC raised its stake in shares of Marcus & Millichap by 1.9% during the 4th 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. boosted its holdings in shares of Marcus & Millichap by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust's stock valued at $481,000 after buying an additional 600 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Marcus & Millichap by 4.9% during the third quarter. Illinois Municipal Retirement Fund now owns 12,807 shares of the real estate investment trust's stock worth $376,000 after buying an additional 601 shares during the last quarter. Finally, AlphaQuest LLC raised its position in Marcus & Millichap by 6.4% during the third quarter. AlphaQuest LLC now owns 11,649 shares of the real estate investment trust's stock worth $342,000 after acquiring an additional 696 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.
About Marcus & Millichap
(
Get Free Report)
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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