Harbor Capital Advisors Inc. Buys 56,379 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Harbor Capital Advisors Inc. increased its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 332.9% in the second quarter, Holdings Channel.com reports. The fund owned 73,314 shares of the real estate investment trust’s stock after purchasing an additional 56,379 shares during the period. Harbor Capital Advisors Inc.’s holdings in Marcus & Millichap were worth $2,311,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. First Hawaiian Bank purchased a new position in shares of Marcus & Millichap in the second quarter valued at $262,000. LRI Investments LLC bought a new stake in shares of Marcus & Millichap in the 1st quarter worth about $143,000. Hancock Whitney Corp raised its position in shares of Marcus & Millichap by 20.8% during the 1st quarter. Hancock Whitney Corp now owns 10,617 shares of the real estate investment trust’s stock valued at $363,000 after buying an additional 1,826 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Marcus & Millichap by 12.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,795 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 767 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Marcus & Millichap in the first quarter worth about $85,000. 62.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marcus & Millichap

In other Marcus & Millichap news, CEO Hessam Nadji sold 15,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $35.27, for a total value of $529,050.00. Following the completion of the sale, the chief executive officer now directly owns 224,123 shares in the company, valued at approximately $7,904,818.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Hessam Nadji sold 15,000 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $35.27, for a total transaction of $529,050.00. Following the transaction, the chief executive officer now directly owns 224,123 shares in the company, valued at $7,904,818.21. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO John David Parker sold 1,835 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $35.29, for a total transaction of $64,757.15. Following the completion of the transaction, the chief operating officer now directly owns 13,373 shares of the company’s stock, valued at approximately $471,933.17. The disclosure for this sale can be found here. Insiders sold a total of 18,635 shares of company stock valued at $658,511 in the last three months. Company insiders own 39.20% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th.

Marcus & Millichap Stock Down 0.8 %

MMI traded down $0.29 during trading on Wednesday, reaching $38.25. The company had a trading volume of 45,091 shares, compared to its average volume of 145,653. Marcus & Millichap, Inc. has a 52 week low of $26.81 and a 52 week high of $44.24. The stock has a market cap of $1.48 billion, a P/E ratio of -38.46 and a beta of 1.12. The business has a 50 day simple moving average of $33.87 and a 200-day simple moving average of $34.41.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported ($0.26) earnings per share for the quarter. The firm had revenue of $129.10 million during the quarter. Marcus & Millichap had a negative return on equity of 5.91% and a negative net margin of 6.16%.

Marcus & Millichap Dividend Announcement

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 16th will be paid a $0.25 dividend. This represents a yield of 1.3%. The ex-dividend date is Monday, September 16th. Marcus & Millichap’s dividend payout ratio is presently -50.00%.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc, an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.