Envestnet Asset Management Inc. Boosts Stake in Marcus & Millichap, Inc. (NYSE:MMI)

Envestnet Asset Management Inc. lifted its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 114,676 shares of the real estate investment trust’s stock after acquiring an additional 3,776 shares during the quarter. Envestnet Asset Management Inc. owned 0.30% of Marcus & Millichap worth $4,388,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MMI. Wells Fargo & Company MN boosted its stake in shares of Marcus & Millichap by 9.9% during the 4th quarter. Wells Fargo & Company MN now owns 76,024 shares of the real estate investment trust’s stock valued at $2,909,000 after buying an additional 6,832 shares during the last quarter. Geode Capital Management LLC raised its holdings in Marcus & Millichap by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 597,338 shares of the real estate investment trust’s stock valued at $22,859,000 after acquiring an additional 2,193 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Marcus & Millichap by 0.9% during the 4th quarter. Alliancebernstein L.P. now owns 33,801 shares of the real estate investment trust’s stock valued at $1,293,000 after acquiring an additional 289 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Marcus & Millichap by 5.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,756 shares of the real estate investment trust’s stock worth $297,000 after purchasing an additional 421 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Marcus & Millichap in the 4th quarter worth about $2,727,000. Institutional investors and hedge funds own 62.78% of the company’s stock.

Marcus & Millichap Stock Performance

Shares of MMI stock opened at $30.74 on Thursday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -96.06 and a beta of 1.17. Marcus & Millichap, Inc. has a one year low of $29.36 and a one year high of $42.80. The company’s 50-day simple moving average is $34.74 and its 200-day simple moving average is $37.19.

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

Marcus & Millichap Announces Dividend

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

Insiders Place Their Bets

In related news, insider Gregory A. Laberge sold 828 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $38.26, for a total value of $31,679.28. Following the sale, the insider now owns 5,222 shares of the company’s stock, valued at approximately $199,793.72. This trade represents a 13.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 39.20% of the stock is owned by corporate insiders.

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.