Marcus & Millichap (NYSE:MMI) CEO Hessam Nadji Sells 500 Shares

Marcus & Millichap, Inc. (NYSE:MMI) CEO Hessam Nadji sold 500 shares of Marcus & Millichap stock in a transaction dated Thursday, June 11th. The shares were 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 approximately $14,587.20. This represents a 51.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Marcus & Millichap Price Performance

Shares of MMI opened at $30.18 on Friday. Marcus & Millichap, Inc. has a 1-year low of $24.43 and a 1-year high of $33.62. The stock has a market cap of $1.14 billion, a PE ratio of -3,014.79 and a beta of 1.25. The firm has a 50-day simple moving average of $28.46 and a two-hundred day simple moving average of $27.48.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). Marcus & Millichap had a negative net margin of 0.08% and a positive return on equity of 0.43%. The business had revenue of $171.47 million during the quarter, compared to analysts’ expectations of $162.20 million. During the same period last year, the business earned ($0.11) earnings per share. The business’s revenue for the quarter was up 18.3% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings cut shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Wall Street Zen cut shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Sell” and a consensus price target of $28.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Savant Capital LLC lifted its position in shares of Marcus & Millichap by 5.7% during the 3rd quarter. Savant Capital LLC now owns 9,632 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 519 shares during the last quarter. Hunter Perkins Capital Management LLC lifted its position in shares of Marcus & Millichap by 1.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 31,130 shares of the real estate investment trust’s stock worth $850,000 after buying an additional 580 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Marcus & Millichap by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 600 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Marcus & Millichap by 4.9% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 12,807 shares of the real estate investment trust’s stock worth $376,000 after buying an additional 601 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Marcus & Millichap by 8.1% during the 3rd quarter. Intech Investment Management LLC now owns 10,284 shares of the real estate investment trust’s stock worth $302,000 after buying an additional 767 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Company Profile

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.