Marcus & Millichap Inc (NYSE:MMI) major shareholder Phoenix Investments Holdings L sold 36,904 shares of Marcus & Millichap stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $35.42, for a total value of $1,307,139.68. Following the completion of the sale, the insider now owns 15,539,478 shares of the company’s stock, valued at $550,408,310.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Friday, September 7th, Phoenix Investments Holdings L sold 4,000 shares of Marcus & Millichap stock. The stock was sold at an average price of $35.44, for a total value of $141,760.00.
  • On Wednesday, September 5th, Phoenix Investments Holdings L sold 29,502 shares of Marcus & Millichap stock. The stock was sold at an average price of $36.39, for a total value of $1,073,577.78.
  • 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.

Shares of Marcus & Millichap stock opened at $35.34 on Thursday. The company has a quick ratio of 5.69, a current ratio of 5.69 and a debt-to-equity ratio of 0.02. Marcus & Millichap Inc has a 52 week low of $24.34 and a 52 week high of $41.45. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.94 and a beta of 1.26.

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

A number of equities research analysts have commented on the company. Citigroup raised their price objective on Marcus & Millichap to $46.00 and gave the company a “buy” rating in a research note on Monday, July 2nd. Zacks Investment Research raised Marcus & Millichap from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Tuesday, June 26th. Finally, JMP Securities cut Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.67.

A number of institutional investors have recently made changes to their positions in MMI. Wells Fargo & Company MN grew its stake in Marcus & Millichap by 12.6% in the first 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 shares of Marcus & Millichap during the first quarter valued at approximately $1,101,000. Mackay Shields LLC purchased a new position in shares of Marcus & Millichap during the first quarter valued at approximately $1,615,000. Trexquant Investment LP purchased a new position in shares of Marcus & Millichap during the first quarter valued at approximately $238,000. Finally, Victory Capital Management Inc. boosted its position in shares of Marcus & Millichap by 26.2% during the first quarter. Victory Capital Management Inc. now owns 11,618 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 2,413 shares during the last quarter. 51.38% of the stock is owned by hedge funds and other institutional investors.

Marcus & Millichap Company Profile

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.

Further Reading: Book Value Per Share – BVPS

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

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