Marcus & Millichap, Inc. (NYSE:MMI) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 66.6% in the 4th quarter, HoldingsChannel reports. The fund owned 1,014 shares of the real estate investment trust’s stock after selling 2,022 shares during the quarter. Federated Hermes Inc.’s holdings in Marcus & Millichap were worth $44,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MMI. State Board of Administration of Florida Retirement System lifted its stake in Marcus & Millichap by 5.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 21,894 shares of the real estate investment trust’s stock worth $642,000 after purchasing an additional 1,065 shares during the last quarter. SG Americas Securities LLC raised its holdings in Marcus & Millichap by 7.6% during the fourth quarter. SG Americas Securities LLC now owns 17,395 shares of the real estate investment trust’s stock worth $760,000 after purchasing an additional 1,235 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Marcus & Millichap by 31.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,090 shares of the real estate investment trust’s stock worth $310,000 after buying an additional 1,713 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Marcus & Millichap by 19.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 14,204 shares of the real estate investment trust’s stock valued at $417,000 after buying an additional 2,284 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Marcus & Millichap in the 3rd quarter valued at $75,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Insider Activity

In related news, COO Richard D. Matricaria sold 9,500 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $33.32, for a total value of $316,540.00. Following the transaction, the chief operating officer now owns 7,078 shares in the company, valued at approximately $235,838.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO John David Parker sold 9,716 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $32.83, for a total transaction of $318,976.28. Following the completion of the sale, the chief operating officer now owns 12,376 shares in the company, valued at $406,304.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Richard D. Matricaria sold 9,500 shares of Marcus & Millichap stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $33.32, for a total transaction of $316,540.00. Following the completion of the transaction, the chief operating officer now owns 7,078 shares in the company, valued at $235,838.96. The disclosure for this sale can be found here. Corporate insiders own 39.89% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Marcus & Millichap from a “hold” rating to a “sell” rating in a report on Monday, March 25th.

Marcus & Millichap Stock Down 0.4 %

MMI opened at $33.16 on Tuesday. Marcus & Millichap, Inc. has a 52 week low of $26.81 and a 52 week high of $44.24. The business’s 50 day moving average is $33.24 and its two-hundred day moving average is $35.14. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -37.47 and a beta of 1.20.

Marcus & Millichap (NYSE:MMI) last announced its earnings results on Friday, February 16th. The real estate investment trust reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. The business had revenue of $166.24 million for the quarter. Marcus & Millichap had a negative net margin of 5.27% and a negative return on equity of 5.16%.

Marcus & Millichap Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which was paid on Friday, April 5th. Stockholders of record on Tuesday, March 12th were issued a $0.25 dividend. The ex-dividend date was Monday, March 11th. This represents a dividend yield of 1.3%. Marcus & Millichap’s payout ratio is -56.18%.

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.