Short Interest in Marcus & Millichap, Inc. (NYSE:MMI) Increases By 39.0%

Marcus & Millichap, Inc. (NYSE:MMI) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 773,256 shares, a growth of 39.0% from the February 26th total of 556,297 shares. Based on an average daily volume of 305,574 shares, the days-to-cover ratio is presently 2.5 days. Currently, 3.4% of the shares of the stock are sold short.

Insider Buying and Selling

In other Marcus & Millichap news, CEO Hessam Nadji sold 1,300 shares of Marcus & Millichap stock in a transaction on Friday, March 13th. The shares were sold at an average price of $25.60, for a total value of $33,280.00. Following the completion of the transaction, the chief executive officer directly owned 480 shares of the company’s stock, valued at $12,288. This trade represents a 73.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 39.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MMI. Kestra Advisory Services LLC bought a new position in shares of Marcus & Millichap during the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Marcus & Millichap by 79,800.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,598 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,596 shares during the period. CWM LLC lifted its stake in shares of Marcus & Millichap by 299.6% during the 3rd quarter. CWM LLC now owns 3,261 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 2,445 shares during the last quarter. LRI Investments LLC boosted its holdings in Marcus & Millichap by 316.2% during the 3rd quarter. LRI Investments LLC now owns 3,484 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 2,647 shares during the period. Finally, Strs Ohio purchased a new position in Marcus & Millichap during the 1st quarter valued at $145,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Stock Up 1.8%

NYSE MMI opened at $26.17 on Tuesday. Marcus & Millichap has a 52 week low of $24.43 and a 52 week high of $35.22. The firm has a market capitalization of $996.33 million, a price-to-earnings ratio of -654.11 and a beta of 1.32. The company has a fifty day moving average of $26.18 and a two-hundred day moving average of $27.95.

Marcus & Millichap (NYSE:MMI) last announced its earnings results on Friday, February 13th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.12. The business had revenue of $243.95 million for the quarter, compared to the consensus estimate of $229.45 million. Marcus & Millichap had a negative net margin of 0.25% and a positive return on equity of 0.20%.

Marcus & Millichap Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 13th will be given a $0.25 dividend. This represents a yield of 196.0%. The ex-dividend date of this dividend is Friday, March 13th. Marcus & Millichap’s dividend payout ratio is -1,250.00%.

Analyst Upgrades and Downgrades

MMI has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a report on Monday, February 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Marcus & Millichap in a research note on Friday. Finally, Wall Street Zen upgraded Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell” and a consensus target price of $28.00.

Marcus & Millichap Company Profile

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.