Geode Capital Management LLC Buys 2,193 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Geode Capital Management LLC increased its position in Marcus & Millichap, Inc. (NYSE:MMI) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 597,338 shares of the real estate investment trust’s stock after purchasing an additional 2,193 shares during the period. Geode Capital Management LLC owned 1.54% of Marcus & Millichap worth $22,859,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Reinhart Partners LLC. grew its stake in shares of Marcus & Millichap by 4.0% in the fourth quarter. Reinhart Partners LLC. now owns 1,909,491 shares of the real estate investment trust’s stock worth $73,057,000 after acquiring an additional 73,792 shares during the last quarter. Norges Bank purchased a new stake in Marcus & Millichap during the fourth quarter valued at $2,727,000. JPMorgan Chase & Co. increased its holdings in Marcus & Millichap by 61.5% during the fourth quarter. JPMorgan Chase & Co. now owns 123,089 shares of the real estate investment trust’s stock valued at $4,709,000 after buying an additional 46,865 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Marcus & Millichap by 21.1% in the 4th quarter. Jennison Associates LLC now owns 264,435 shares of the real estate investment trust’s stock worth $10,117,000 after purchasing an additional 46,154 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Marcus & Millichap by 104.7% during the 3rd quarter. Barclays PLC now owns 60,379 shares of the real estate investment trust’s stock valued at $2,393,000 after buying an additional 30,884 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Gregory A. Laberge sold 2,915 shares of the company’s stock in a transaction that occurred 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 39.20% of the company’s stock.

Marcus & Millichap Price Performance

MMI opened at $31.24 on Friday. The firm has a market cap of $1.22 billion, a P/E ratio of -97.61 and a beta of 1.17. The company has a 50 day simple moving average of $35.17 and a two-hundred day simple moving average of $37.33. Marcus & Millichap, Inc. has a 1-year low of $29.36 and a 1-year high of $42.80.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings data on Friday, February 14th. The real estate investment trust reported $0.22 EPS for the quarter, beating 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 business had revenue of $240.08 million for the quarter. During the same quarter in the previous year, the firm earned ($0.27) earnings per share.

Marcus & Millichap Dividend Announcement

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

Marcus & Millichap Company Profile

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.