Marcus & Millichap Inc (NYSE:MMI) major shareholder Phoenix Investments Holdings L sold 24,648 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $36.20, for a total transaction of $892,257.60. Following the sale, the insider now directly owns 15,186,021 shares in the company, valued at approximately $549,733,960.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Monday, November 5th, Phoenix Investments Holdings L sold 50,000 shares of Marcus & Millichap stock. The stock was sold at an average price of $34.82, for a total transaction of $1,741,000.00.
  • On Thursday, November 1st, Phoenix Investments Holdings L sold 100,000 shares of Marcus & Millichap stock. The stock was sold at an average price of $35.00, for a total transaction of $3,500,000.00.
  • On Thursday, September 13th, Phoenix Investments Holdings L sold 52,204 shares of Marcus & Millichap stock. The stock was sold at an average price of $35.45, for a total transaction of $1,850,631.80.
  • 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 transaction of $141,760.00.
  • On Monday, September 10th, Phoenix Investments Holdings L sold 36,904 shares of Marcus & Millichap stock. The stock was sold at an average price of $35.42, for a total transaction of $1,307,139.68.
  • 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $4,153,931.10.

Shares of MMI traded up $0.49 during mid-day trading on Friday, reaching $37.38. 420,772 shares of the company’s stock were exchanged, compared to its average volume of 473,856. The company has a current ratio of 5.69, a quick ratio of 5.69 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.42 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 3.09 and a beta of 1.13. Marcus & Millichap Inc has a 52-week low of $28.89 and a 52-week high of $41.45.

Marcus & Millichap (NYSE:MMI) last announced its earnings results on Wednesday, November 7th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $210.60 million for the quarter, compared to analyst estimates of $192.58 million. Marcus & Millichap had a net margin of 8.83% and a return on equity of 24.17%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. As a group, equities research analysts forecast that Marcus & Millichap Inc will post 1.99 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its position in shares of Marcus & Millichap by 1,029.1% during the first quarter. Royal Bank of Canada now owns 5,160 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 4,703 shares during the last quarter. California Public Employees Retirement System purchased a new position in shares of Marcus & Millichap during the second quarter worth approximately $246,000. Zacks Investment Management purchased a new position in shares of Marcus & Millichap during the second quarter worth approximately $246,000. WINTON GROUP Ltd purchased a new position in shares of Marcus & Millichap during the second quarter worth approximately $295,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Marcus & Millichap during the second quarter worth approximately $300,000. Institutional investors and hedge funds own 50.88% of the company’s stock.

A number of analysts have weighed in on the stock. ValuEngine raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a report on Wednesday. JMP Securities lowered shares of Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 22nd. Finally, Zacks Investment Research lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Saturday, August 11th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $42.67.

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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.

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