Key Points
- CEO Hessam Nadji sold 500 shares of Marcus & Millichap at an average price of $30.39, totaling $15,195. After the transaction, he held 480 shares, cutting his position by about 51%.
- The stock opened at $30.18 and was trading down about 0.5% in Friday’s session, with a market cap of $1.14 billion and a 12-month range of $24.43 to $33.62.
- Marcus & Millichap’s latest quarterly results showed EPS matched estimates at -$0.08, while revenue came in above expectations at $171.47 million, up 18.3% year over year. Despite the revenue growth, analysts currently maintain an overall Sell rating with a consensus target price of $28.00.
Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report) CEO Hessam Nadji sold 500 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $30.39, for a total transaction of $15,195.00. Following the sale, the chief executive officer owned 480 shares of the company's stock, valued at $14,587.20. This represents a 51.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Marcus & Millichap Trading Down 0.5%
Shares of NYSE:MMI opened at $30.18 on Friday. The company has a market capitalization of $1.14 billion, a PE ratio of -3,014.79 and a beta of 1.25. Marcus & Millichap, Inc. has a twelve month low of $24.43 and a twelve month high of $33.62. The firm has a 50 day simple moving average of $28.46 and a 200-day simple moving average of $27.48.
Marcus & Millichap (NYSE:MMI - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $171.47 million during the quarter, compared to the consensus estimate of $162.20 million. Marcus & Millichap had a negative net margin of 0.08% and a positive return on equity of 0.43%. The company's revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS.
Analyst Upgrades and Downgrades
Several research firms recently commented on MMI. Wall Street Zen downgraded shares of Marcus & Millichap from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Weiss Ratings downgraded shares of Marcus & Millichap from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Marcus & Millichap currently has an average rating of "Sell" and a consensus target price of $28.00.
Check Out Our Latest Analysis on Marcus & Millichap
Hedge Funds Weigh In On Marcus & Millichap
Large investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL raised its position in Marcus & Millichap by 35.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 90,830 shares of the real estate investment trust's stock worth $2,666,000 after buying an additional 23,885 shares during the last quarter. JPMorgan Chase & Co. raised its position in Marcus & Millichap by 79.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,410 shares of the real estate investment trust's stock worth $1,685,000 after buying an additional 25,441 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in Marcus & Millichap by 13.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 264,518 shares of the real estate investment trust's stock worth $7,219,000 after buying an additional 31,380 shares during the last quarter. First National Bank of Omaha purchased a new position in Marcus & Millichap during the 3rd quarter worth $614,000. Finally, Vanguard Group Inc. raised its position in Marcus & Millichap by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust's stock worth $104,165,000 after buying an additional 86,609 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company's stock.
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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