Marcus & Millichap, Inc. (NYSE:MMI) CEO Hessam Nadji Sells 13,241 Shares

Marcus & Millichap, Inc. (NYSE:MMI) CEO Hessam Nadji sold 13,241 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $40.18, for a total value of $532,023.38. Following the transaction, the chief executive officer now owns 209,782 shares in the company, valued at approximately $8,429,040.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Hessam Nadji also recently made the following trade(s):

• On Monday, August 26th, Hessam Nadji sold 659 shares of Marcus & Millichap stock. The shares were sold at an average price of $40.33, for a total value of $26,577.47.
• On Thursday, July 25th, Hessam Nadji sold 800 shares of Marcus & Millichap stock. The stock was sold at an average price of $40.03, for a total value of $32,024.00.
• On Friday, July 12th, Hessam Nadji sold 15,000 shares of Marcus & Millichap stock. The stock was sold at an average price of $35.27, for a total transaction of $529,050.00.

Marcus & Millichap Price Performance

Shares of MMI opened at $40.10 on Tuesday. The firm has a 50 day simple moving average of $35.74 and a two-hundred day simple moving average of $34.39. Marcus & Millichap, Inc. has a one year low of $26.81 and a one year high of $44.24. The company has a market cap of $1.55 billion, a P/E ratio of -40.10 and a beta of 1.12.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. Marcus & Millichap had a negative return on equity of 5.91% and a negative net margin of 6.16%. The company had revenue of $158.37 million during the quarter.

Marcus & Millichap Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.25 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend is Monday, September 16th. Marcus & Millichap’s payout ratio is -50.00%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MMI. The Manufacturers Life Insurance Company increased its position in Marcus & Millichap by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,220 shares of the real estate investment trust’s stock worth $480,000 after purchasing an additional 750 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Marcus & Millichap during the second quarter worth $2,543,000. Public Sector Pension Investment Board lifted its stake in shares of Marcus & Millichap by 6.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 52,747 shares of the real estate investment trust’s stock valued at $1,663,000 after acquiring an additional 3,357 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Marcus & Millichap during the 2nd quarter valued at $212,000. Finally, WINTON GROUP Ltd grew its position in Marcus & Millichap by 4.4% during the 2nd quarter. WINTON GROUP Ltd now owns 29,060 shares of the real estate investment trust’s stock worth $916,000 after acquiring an additional 1,213 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.

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.