Victory Capital Management Inc. Sells 3,566 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Victory Capital Management Inc. trimmed its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 21.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,291 shares of the real estate investment trust’s stock after selling 3,566 shares during the quarter. Victory Capital Management Inc.’s holdings in Marcus & Millichap were worth $419,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pitcairn Co. boosted its position in shares of Marcus & Millichap by 23.8% in the first quarter. Pitcairn Co. now owns 11,593 shares of the real estate investment trust’s stock valued at $372,000 after acquiring an additional 2,231 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Marcus & Millichap by 4.7% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 53,800 shares of the real estate investment trust’s stock valued at $1,728,000 after acquiring an additional 2,400 shares during the period. Hofer & Associates. Inc lifted its position in Marcus & Millichap by 12.5% during the second quarter. Hofer & Associates. Inc now owns 7,461 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 829 shares during the period. Janney Montgomery Scott LLC lifted its position in Marcus & Millichap by 24.3% during the second quarter. Janney Montgomery Scott LLC now owns 11,920 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 2,334 shares during the period. Finally, First National Bank of Omaha lifted its position in Marcus & Millichap by 19.6% during the first quarter. First National Bank of Omaha now owns 23,041 shares of the real estate investment trust’s stock worth $740,000 after purchasing an additional 3,770 shares during the period. Institutional investors own 60.62% of the company’s stock.

Insiders Place Their Bets

In other Marcus & Millichap news, Director Don C. Watters sold 12,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.89, for a total transaction of $382,680.00. Following the completion of the transaction, the director now owns 8,337 shares of the company’s stock, valued at $265,866.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Gregory A. Laberge sold 8,201 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $32.09, for a total value of $263,170.09. Following the completion of the transaction, the insider now owns 5,012 shares of the company’s stock, valued at $160,835.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Don C. Watters sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $31.89, for a total value of $382,680.00. Following the completion of the transaction, the director now directly owns 8,337 shares of the company’s stock, valued at approximately $265,866.93. The disclosure for this sale can be found here. Insiders own 39.20% of the company’s stock.

Marcus & Millichap Stock Up 7.0 %

MMI opened at $31.75 on Friday. Marcus & Millichap, Inc. has a twelve month low of $26.81 and a twelve month high of $39.45. The company has a 50-day simple moving average of $30.21 and a 200 day simple moving average of $31.62. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 90.72 and a beta of 1.14.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.20). The firm had revenue of $162.03 million for the quarter. Marcus & Millichap had a return on equity of 2.11% and a net margin of 1.63%. During the same period last year, the company earned $0.53 earnings per share.

Marcus & Millichap Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Thursday, December 7th. Marcus & Millichap’s payout ratio is 142.86%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research report on Friday, October 13th.

About Marcus & Millichap

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, as well as capital markets.