Norma J. Lawrence Sells 1,123 Shares of Marcus & Millichap, Inc. (NYSE:MMI) Stock

Marcus & Millichap, Inc. (NYSE:MMI) Director Norma J. Lawrence sold 1,123 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $40.00, for a total value of $44,920.00. Following the completion of the sale, the director now directly owns 24,971 shares of the company’s stock, valued at approximately $998,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Marcus & Millichap Stock Performance

Shares of MMI opened at $39.79 on Thursday. The firm has a market capitalization of $1.54 billion, a P/E ratio of -40.24 and a beta of 1.13. Marcus & Millichap, Inc. has a 52 week low of $26.81 and a 52 week high of $44.24. The stock has a 50 day moving average price of $38.16 and a two-hundred day moving average price of $34.51.

Marcus & Millichap (NYSE:MMI) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. Marcus & Millichap had a negative return on equity of 5.50% and a negative net margin of 5.68%. The company had revenue of $158.37 million for the quarter.

Marcus & Millichap Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in Marcus & Millichap in the 1st quarter valued at about $85,000. EntryPoint Capital LLC bought a new stake in Marcus & Millichap during the first quarter worth $85,000. LRI Investments LLC purchased a new position in Marcus & Millichap in the first quarter worth $143,000. Scharf Investments LLC grew its stake in Marcus & Millichap by 18.8% in the 1st quarter. Scharf Investments LLC now owns 5,905 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 933 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Marcus & Millichap in the 4th quarter valued at $283,000. Institutional investors own 62.78% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on MMI shares. Wells Fargo & Company lifted their price target on shares of Marcus & Millichap from $20.00 to $30.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. StockNews.com upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th.

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.