Marcus & Millichap, Inc. (NYSE:MMI) Sees Significant Drop in Short Interest

Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 778,100 shares, a decrease of 25.2% from the March 15th total of 1,040,000 shares. Based on an average daily volume of 187,600 shares, the days-to-cover ratio is presently 4.1 days. Currently, 3.3% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Marcus & Millichap from a "hold" rating to a "sell" rating in a report on Monday, March 25th.

Marcus & Millichap Trading Down 1.6 %

Shares of Marcus & Millichap stock traded down $0.51 on Friday, reaching $32.35. The stock had a trading volume of 88,662 shares, compared to its average volume of 181,987. Marcus & Millichap has a 1 year low of $26.81 and a 1 year high of $44.24. The company has a market cap of $1.24 billion, a P/E ratio of -36.35 and a beta of 1.20. The business's 50 day moving average is $35.03 and its two-hundred day moving average is $34.75.

Marcus & Millichap (NYSE:MMI - Get Free Report) last announced its earnings results on Friday, February 16th. The real estate investment trust reported ($0.27) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.01. The business had revenue of $166.24 million for the quarter. Marcus & Millichap had a negative net margin of 5.27% and a negative return on equity of 5.16%.

Marcus & Millichap Announces Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Friday, April 5th. Investors of record on Tuesday, March 12th were paid a $0.25 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, March 11th. Marcus & Millichap's dividend payout ratio is currently -56.18%.

Insider Buying and Selling at Marcus & Millichap

In other Marcus & Millichap news, COO John David Parker sold 9,716 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $32.83, for a total transaction of $318,976.28. Following the sale, the chief operating officer now directly owns 12,376 shares of the company's stock, valued at $406,304.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Richard D. Matricaria sold 9,500 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $33.32, for a total value of $316,540.00. Following the sale, the chief operating officer now directly owns 7,078 shares of the company's stock, valued at $235,838.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John David Parker sold 9,716 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $32.83, for a total transaction of $318,976.28. Following the completion of the sale, the chief operating officer now directly owns 12,376 shares in the company, valued at $406,304.08. The disclosure for this sale can be found here. Insiders own 39.20% of the company's stock.

Institutional Investors Weigh In On Marcus & Millichap

A number of institutional investors and hedge funds have recently bought and sold shares of MMI. Jennison Associates LLC bought a new position in Marcus & Millichap during the third quarter valued at approximately $6,544,000. Charles Schwab Investment Management Inc. grew its position in Marcus & Millichap by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 321,202 shares of the real estate investment trust's stock valued at $9,424,000 after acquiring an additional 18,706 shares during the last quarter. Wellington Management Group LLP grew its position in Marcus & Millichap by 5.4% during the third quarter. Wellington Management Group LLP now owns 400,342 shares of the real estate investment trust's stock valued at $11,746,000 after acquiring an additional 20,420 shares during the last quarter. Reinhart Partners LLC. grew its position in Marcus & Millichap by 10.1% during the fourth quarter. Reinhart Partners LLC. now owns 1,457,609 shares of the real estate investment trust's stock valued at $63,668,000 after acquiring an additional 133,308 shares during the last quarter. Finally, Handelsbanken Fonder AB bought a new position in Marcus & Millichap during the third quarter valued at approximately $219,000. 62.78% of the stock is owned by hedge funds and other institutional investors.

About Marcus & Millichap

Marcus & Millichap, Inc, an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.