Hancock Whitney Corp Sells 1,482 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Hancock Whitney Corp trimmed its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 14.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,135 shares of the real estate investment trust’s stock after selling 1,482 shares during the period. Hancock Whitney Corp’s holdings in Marcus & Millichap were worth $288,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MMI. Allspring Global Investments Holdings LLC bought a new stake in Marcus & Millichap during the first quarter valued at about $85,000. EntryPoint Capital LLC purchased a new position in Marcus & Millichap in the 1st quarter worth approximately $85,000. LRI Investments LLC purchased a new position in Marcus & Millichap in the 1st quarter worth approximately $143,000. Scharf Investments LLC boosted 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 worth $202,000 after purchasing an additional 933 shares during the period. Finally, Heritage Family Offices LLP purchased a new stake in Marcus & Millichap during the 2nd quarter valued at approximately $207,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Price Performance

Shares of MMI opened at $39.73 on Tuesday. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -39.73 and a beta of 1.13. Marcus & Millichap, Inc. has a 1 year low of $26.81 and a 1 year high of $44.24. The business’s 50 day simple moving average is $38.60 and its 200-day simple moving average is $34.65.

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

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 given a $0.25 dividend. The ex-dividend date is Monday, September 16th. This represents a yield of 1.3%. Marcus & Millichap’s dividend payout ratio is currently -50.00%.

Insiders Place Their Bets

In other news, CEO Hessam Nadji sold 659 shares of Marcus & Millichap stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $40.33, for a total value of $26,577.47. Following the completion of the transaction, the chief executive officer now owns 209,123 shares in the company, valued at approximately $8,433,930.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Hessam Nadji sold 659 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $40.33, for a total value of $26,577.47. Following the sale, the chief executive officer now owns 209,123 shares of the company’s stock, valued at $8,433,930.59. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Norma J. Lawrence sold 1,123 shares of Marcus & Millichap stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. Following the transaction, the director now directly owns 24,971 shares of the company’s stock, valued at $998,840. The disclosure for this sale can be found here. Insiders have sold 30,823 shares of company stock valued at $1,164,595 over the last ninety days. 39.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on MMI. Wells Fargo & Company boosted their target price on shares of Marcus & Millichap from $20.00 to $30.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. StockNews.com upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research note 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.