Marcus & Millichap Inc (NYSE:MMI) major shareholder Phoenix Investments Holdings L sold 29,502 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $36.39, for a total value of $1,073,577.78. Following the completion of the sale, the insider now directly owns 15,545,716 shares of the company’s stock, valued at $565,708,605.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Phoenix Investments Holdings L also recently made the following trade(s):

  • On Thursday, August 30th, Phoenix Investments Holdings L sold 11,534 shares of Marcus & Millichap stock. The stock was sold at an average price of $36.39, for a total value of $419,722.26.
  • On Tuesday, August 28th, Phoenix Investments Holdings L sold 45,085 shares of Marcus & Millichap stock. The stock was sold at an average price of $36.54, for a total value of $1,647,405.90.
  • On Friday, August 17th, Phoenix Investments Holdings L sold 42,929 shares of Marcus & Millichap stock. The stock was sold at an average price of $37.86, for a total value of $1,625,291.94.
  • On Monday, August 20th, Phoenix Investments Holdings L sold 109,458 shares of Marcus & Millichap stock. The stock was sold at an average price of $37.95, for a total value of $4,153,931.10.
  • On Wednesday, August 8th, Phoenix Investments Holdings L sold 94,321 shares of Marcus & Millichap stock. The stock was sold at an average price of $39.46, for a total value of $3,721,906.66.
  • On Wednesday, August 1st, Phoenix Investments Holdings L sold 18,385 shares of Marcus & Millichap stock. The stock was sold at an average price of $39.90, for a total value of $733,561.50.
  • On Friday, August 3rd, Phoenix Investments Holdings L sold 66,878 shares of Marcus & Millichap stock. The stock was sold at an average price of $39.65, for a total value of $2,651,712.70.
  • On Monday, July 30th, Phoenix Investments Holdings L sold 3,000 shares of Marcus & Millichap stock. The stock was sold at an average price of $40.27, for a total value of $120,810.00.
  • On Friday, July 27th, Phoenix Investments Holdings L sold 8,000 shares of Marcus & Millichap stock. The stock was sold at an average price of $40.68, for a total value of $325,440.00.
  • On Wednesday, July 25th, Phoenix Investments Holdings L sold 50,000 shares of Marcus & Millichap stock. The stock was sold at an average price of $40.51, for a total value of $2,025,500.00.

Shares of Marcus & Millichap stock opened at $35.16 on Friday. Marcus & Millichap Inc has a 12 month low of $24.34 and a 12 month high of $41.45. The stock has a market cap of $1.38 billion, a P/E ratio of 21.86, a PEG ratio of 2.99 and a beta of 1.25. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.69 and a quick ratio of 5.69.

Marcus & Millichap (NYSE:MMI) last announced its earnings results on Tuesday, August 7th. The real estate investment trust reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. Marcus & Millichap had a return on equity of 23.06% and a net margin of 8.44%. The company had revenue of $199.40 million during the quarter, compared to analysts’ expectations of $194.60 million. equities analysts expect that Marcus & Millichap Inc will post 1.99 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in MMI. Wells Fargo & Company MN boosted its holdings in Marcus & Millichap by 12.6% during the 1st quarter. Wells Fargo & Company MN now owns 192,662 shares of the real estate investment trust’s stock valued at $6,946,000 after acquiring an additional 21,490 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Marcus & Millichap during the 1st quarter valued at about $1,101,000. Mackay Shields LLC purchased a new position in Marcus & Millichap during the 1st quarter valued at about $1,615,000. Summit Global Investments purchased a new position in Marcus & Millichap during the 1st quarter valued at about $588,000. Finally, Trexquant Investment LP purchased a new position in Marcus & Millichap during the 1st quarter valued at about $238,000. Institutional investors own 51.34% of the company’s stock.

MMI has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Saturday, August 11th. Citigroup raised their price objective on Marcus & Millichap to $46.00 and gave the stock a “buy” rating in a research report on Monday, July 2nd. Finally, JMP Securities downgraded Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 22nd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Marcus & Millichap currently has a consensus rating of “Hold” and an average target price of $42.67.

About Marcus & Millichap

Marcus & Millichap, Inc, a brokerage firm, provides 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, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.

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Insider Buying and Selling by Quarter for Marcus & Millichap (NYSE:MMI)

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