Marcus & Millichap Inc (NYSE:MMI) major shareholder Phoenix Investments Holdings L sold 34,783 shares of Marcus & Millichap stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $37.01, for a total transaction of $1,287,318.83. Following the sale, the insider now owns 15,001,989 shares in the company, valued at $555,223,612.89. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Wednesday, November 14th, Phoenix Investments Holdings L sold 150,000 shares of Marcus & Millichap stock. The stock was sold at an average price of $37.14, for a total transaction of $5,571,000.00.
  • On Wednesday, November 7th, Phoenix Investments Holdings L sold 24,648 shares of Marcus & Millichap stock. The stock was sold at an average price of $36.20, for a total transaction of $892,257.60.
  • 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.

Marcus & Millichap stock traded down $0.29 during mid-day trading on Monday, hitting $36.68. 221,500 shares of the stock were exchanged, compared to its average volume of 208,609. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.67 and a current ratio of 4.67. Marcus & Millichap Inc has a 12 month low of $28.89 and a 12 month high of $41.45. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 3.07 and a beta of 1.13.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Wednesday, November 7th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. Marcus & Millichap had a net margin of 8.83% and a return on equity of 23.36%. The firm had revenue of $210.60 million during the quarter, compared to analyst estimates of $192.58 million. During the same quarter last year, the business earned $0.40 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts predict that Marcus & Millichap Inc will post 2.01 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. NorthCoast Asset Management LLC bought a new position in Marcus & Millichap during the 3rd quarter worth approximately $610,000. Teachers Advisors LLC raised its holdings in Marcus & Millichap by 41.2% during the 3rd quarter. Teachers Advisors LLC now owns 51,718 shares of the real estate investment trust’s stock worth $1,795,000 after purchasing an additional 15,088 shares during the last quarter. AQR Capital Management LLC raised its holdings in Marcus & Millichap by 355.8% during the 3rd quarter. AQR Capital Management LLC now owns 24,844 shares of the real estate investment trust’s stock worth $862,000 after purchasing an additional 19,393 shares during the last quarter. MetLife Investment Advisors LLC raised its holdings in Marcus & Millichap by 55.1% during the 3rd quarter. MetLife Investment Advisors LLC now owns 14,328 shares of the real estate investment trust’s stock worth $497,000 after purchasing an additional 5,093 shares during the last quarter. Finally, Matarin Capital Management LLC bought a new position in Marcus & Millichap during the 3rd quarter worth approximately $10,868,000. Hedge funds and other institutional investors own 52.40% of the company’s stock.

Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Tuesday, November 13th. ValuEngine upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Wednesday, November 7th. Finally, JMP Securities downgraded shares of Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 22nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $41.67.

ILLEGAL ACTIVITY WARNING: “Marcus & Millichap Inc (MMI) Major Shareholder Phoenix Investments Holdings L Sells 34,783 Shares” was posted by Daily Political and is the property of of Daily Political. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://www.dailypolitical.com/2018/11/19/marcus-millichap-inc-mmi-major-shareholder-phoenix-investments-holdings-l-sells-34783-shares.html.

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.

Read More: Why do earnings reports matter?

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

Receive News & Ratings for Marcus & Millichap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marcus & Millichap and related companies with MarketBeat.com's FREE daily email newsletter.