JPMorgan Chase & Co. Has $1.69 Million Stock Position in Marcus & Millichap, Inc. $MMI

JPMorgan Chase & Co. grew its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 79.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,410 shares of the real estate investment trust’s stock after acquiring an additional 25,441 shares during the quarter. JPMorgan Chase & Co. owned 0.15% of Marcus & Millichap worth $1,685,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Tributary Capital Management LLC boosted its position in Marcus & Millichap by 92.4% during the 3rd quarter. Tributary Capital Management LLC now owns 1,339,094 shares of the real estate investment trust’s stock worth $39,302,000 after acquiring an additional 643,277 shares during the last quarter. Pzena Investment Management LLC boosted its position in Marcus & Millichap by 2.8% during the 3rd quarter. Pzena Investment Management LLC now owns 631,330 shares of the real estate investment trust’s stock worth $18,530,000 after acquiring an additional 16,920 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in Marcus & Millichap by 4.8% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 233,138 shares of the real estate investment trust’s stock worth $6,843,000 after acquiring an additional 10,766 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Marcus & Millichap by 7.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 206,246 shares of the real estate investment trust’s stock worth $6,053,000 after acquiring an additional 13,496 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Marcus & Millichap by 9.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 183,430 shares of the real estate investment trust’s stock worth $5,384,000 after acquiring an additional 15,287 shares during the last quarter. Institutional investors and hedge funds own 62.78% of the company’s stock.

Insider Activity at Marcus & Millichap

In other news, CEO Hessam Nadji sold 1,300 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $25.60, for a total value of $33,280.00. Following the completion of the sale, the chief executive officer owned 480 shares of the company’s stock, valued at approximately $12,288. This represents a 73.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 39.20% of the company’s stock.

Marcus & Millichap Trading Up 1.1%

NYSE MMI opened at $26.25 on Wednesday. The company has a market cap of $999.45 million, a PE ratio of -656.16 and a beta of 1.31. Marcus & Millichap, Inc. has a 12 month low of $24.43 and a 12 month high of $33.62. The stock has a 50 day moving average of $26.13 and a 200-day moving average of $27.71.

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

Marcus & Millichap Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, April 3rd. Stockholders of record on Friday, March 13th were issued a $0.25 dividend. This represents a dividend yield of 196.0%. The ex-dividend date of this dividend was Friday, March 13th. Marcus & Millichap’s dividend payout ratio is presently -1,250.00%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen raised Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marcus & Millichap in a research report on Friday, March 27th. Finally, Wells Fargo & Company reduced their price target on Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Marcus & Millichap presently has an average rating of “Sell” and an average 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.