Marcus & Millichap, Inc. (NYSE:MMI) Shares Sold by Royce & Associates LP

Royce & Associates LP lessened its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 4.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,198,380 shares of the real estate investment trust’s stock after selling 104,773 shares during the period. Marcus & Millichap accounts for about 0.8% of Royce & Associates LP’s portfolio, making the stock its 11th largest position. Royce & Associates LP owned approximately 0.06% of Marcus & Millichap worth $84,110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Marcus & Millichap in the fourth quarter valued at $66,000. BNP Paribas Financial Markets grew its stake in Marcus & Millichap by 8.4% during the third quarter. BNP Paribas Financial Markets now owns 5,165 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 400 shares during the period. Heritage Family Offices LLP increased its holdings in Marcus & Millichap by 7.1% in the 4th quarter. Heritage Family Offices LLP now owns 7,030 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 464 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Marcus & Millichap by 11.6% in the fourth quarter. Handelsbanken Fonder AB now owns 8,666 shares of the real estate investment trust’s stock valued at $332,000 after buying an additional 900 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Marcus & Millichap by 6.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 8,651 shares of the real estate investment trust’s stock worth $343,000 after purchasing an additional 530 shares in the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Insider Activity at Marcus & Millichap

In other Marcus & Millichap news, insider Gregory A. Laberge sold 828 shares of the firm’s stock in a transaction 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 directly owns 5,222 shares in the company, valued at approximately $199,793.72. This trade represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 39.20% of the company’s stock.

Marcus & Millichap Price Performance

Shares of Marcus & Millichap stock opened at $34.43 on Friday. Marcus & Millichap, Inc. has a 1-year low of $29.93 and a 1-year high of $42.80. The business has a 50-day moving average of $37.14 and a 200-day moving average of $38.47. The company has a market capitalization of $1.34 billion, a PE ratio of -107.59 and a beta of 1.15.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings data on Friday, February 14th. The real estate investment trust reported $0.22 earnings per share 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 net margin of 1.78% and a negative return on equity of 1.98%. During the same period in the prior year, the business earned ($0.27) earnings per share.

Marcus & Millichap Dividend Announcement

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

Marcus & Millichap 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.