Marcus & Millichap, Inc. (NYSE:MMI) Short Interest Update

Marcus & Millichap, Inc. (NYSE:MMIGet Rating) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 800,200 shares, a drop of 9.2% from the August 15th total of 881,100 shares. Based on an average trading volume of 139,800 shares, the days-to-cover ratio is presently 5.7 days. Approximately 3.3% of the shares of the company are short sold.

Insider Buying and Selling at Marcus & Millichap

In other Marcus & Millichap news, insider Gregory A. Laberge sold 2,155 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $40.45, for a total value of $87,169.75. Following the completion of the sale, the insider now owns 10,172 shares in the company, valued at $411,457.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 38.80% of the company’s stock.

Hedge Funds Weigh In On Marcus & Millichap

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Marcus & Millichap by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,957,793 shares of the real estate investment trust’s stock valued at $208,497,000 after purchasing an additional 25,663 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Marcus & Millichap by 10.2% during the 2nd quarter. Royce & Associates LP now owns 1,584,177 shares of the real estate investment trust’s stock valued at $58,599,000 after purchasing an additional 147,129 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Marcus & Millichap by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,440,600 shares of the real estate investment trust’s stock valued at $75,887,000 after purchasing an additional 24,445 shares during the last quarter. Reinhart Partners Inc. grew its holdings in shares of Marcus & Millichap by 1.4% during the 1st quarter. Reinhart Partners Inc. now owns 1,155,798 shares of the real estate investment trust’s stock valued at $60,887,000 after purchasing an additional 15,855 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Marcus & Millichap by 1.4% during the 2nd quarter. State Street Corp now owns 819,198 shares of the real estate investment trust’s stock valued at $30,302,000 after purchasing an additional 11,548 shares during the last quarter. 60.73% of the stock is owned by institutional investors.

Marcus & Millichap Stock Performance

NYSE MMI opened at $37.09 on Monday. The firm has a 50-day moving average of $38.66 and a 200-day moving average of $42.19. The stock has a market cap of $1.48 billion, a PE ratio of 8.79 and a beta of 0.99. Marcus & Millichap has a 52-week low of $34.13 and a 52-week high of $58.33.

Marcus & Millichap (NYSE:MMIGet Rating) last released its quarterly earnings results on Friday, August 5th. The real estate investment trust reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.20. Marcus & Millichap had a net margin of 11.07% and a return on equity of 25.12%. During the same quarter last year, the business earned $0.78 EPS.

Marcus & Millichap Dividend Announcement

The company also recently announced a Semi-Annual dividend, which will be paid on Thursday, October 6th. Shareholders of record on Thursday, September 15th will be issued a $0.25 dividend. This represents a yield of 1.2%. The ex-dividend date is Wednesday, September 14th. Marcus & Millichap’s dividend payout ratio is currently 11.85%.

Marcus & Millichap Company Profile

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Marcus & Millichap, Inc, an investment brokerage company, provides real estate 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, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing.

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