Arrowstreet Capital Limited Partnership Increases Stock Position in Marcus & Millichap, Inc. (NYSE:MMI)

Arrowstreet Capital Limited Partnership grew its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,756 shares of the real estate investment trust’s stock after buying an additional 421 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Marcus & Millichap were worth $297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MMI. Barclays PLC boosted its stake in Marcus & Millichap by 104.7% during the third quarter. Barclays PLC now owns 60,379 shares of the real estate investment trust’s stock worth $2,393,000 after acquiring an additional 30,884 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Marcus & Millichap during the fourth quarter valued at approximately $830,000. Amundi boosted its position in shares of Marcus & Millichap by 195.4% in the 4th quarter. Amundi now owns 11,687 shares of the real estate investment trust’s stock worth $408,000 after purchasing an additional 7,730 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Marcus & Millichap by 4.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 403,560 shares of the real estate investment trust’s stock worth $15,440,000 after purchasing an additional 18,785 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Marcus & Millichap by 8.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,165 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 400 shares during the last quarter. 62.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Gregory A. Laberge sold 2,915 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $34.78, for a total transaction of $101,383.70. Following the transaction, the insider now directly owns 2,307 shares of the company’s stock, valued at $80,237.46. This represents a 55.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 39.20% of the company’s stock.

Marcus & Millichap Trading Up 1.6 %

Shares of NYSE:MMI opened at $30.85 on Monday. The stock has a fifty day simple moving average of $35.80 and a two-hundred day simple moving average of $37.59. Marcus & Millichap, Inc. has a 12-month low of $29.36 and a 12-month high of $42.80. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -96.41 and a beta of 1.17.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Friday, February 14th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.28. Marcus & Millichap had a negative return on equity of 1.98% and a negative net margin of 1.78%. The firm had revenue of $240.08 million during the quarter. During the same period in the prior year, the firm earned ($0.27) EPS.

Marcus & Millichap Announces Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, April 4th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.25 per share. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, March 12th. Marcus & Millichap’s payout ratio is -156.25%.

About Marcus & Millichap

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.