Hsbc Holdings PLC Takes $212,000 Position in Marcus & Millichap, Inc. (NYSE:MMI)

Hsbc Holdings PLC purchased a new stake in Marcus & Millichap, Inc. (NYSE:MMI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,669 shares of the real estate investment trust’s stock, valued at approximately $212,000.

Several other hedge funds also recently made changes to their positions in the stock. WINTON GROUP Ltd grew its position in shares of Marcus & Millichap by 4.4% in the second quarter. WINTON GROUP Ltd now owns 29,060 shares of the real estate investment trust’s stock valued at $916,000 after purchasing an additional 1,213 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Marcus & Millichap in the second quarter valued at $256,000. Quest Partners LLC grew its position in shares of Marcus & Millichap by 144,346.2% in the second quarter. Quest Partners LLC now owns 18,778 shares of the real estate investment trust’s stock valued at $592,000 after purchasing an additional 18,765 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of Marcus & Millichap by 122.2% in the second quarter. Pzena Investment Management LLC now owns 641,667 shares of the real estate investment trust’s stock valued at $20,225,000 after purchasing an additional 352,832 shares in the last quarter. Finally, Heritage Family Offices LLP purchased a new position in Marcus & Millichap during the second quarter worth about $207,000. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at Marcus & Millichap

In other news, Director Norma J. Lawrence sold 1,123 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $40.00, for a total value of $44,920.00. Following the completion of the transaction, the director now directly owns 24,971 shares in the company, valued at approximately $998,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Hessam Nadji sold 800 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $40.03, for a total transaction of $32,024.00. Following the completion of the sale, the chief executive officer now directly owns 223,323 shares in the company, valued at $8,939,619.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Norma J. Lawrence sold 1,123 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $40.00, for a total value of $44,920.00. Following the sale, the director now owns 24,971 shares of the company’s stock, valued at $998,840. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,823 shares of company stock worth $1,164,595. 39.20% of the stock is currently owned by corporate insiders.

Marcus & Millichap Stock Down 1.7 %

Marcus & Millichap stock opened at $36.79 on Friday. Marcus & Millichap, Inc. has a 52 week low of $26.81 and a 52 week high of $44.24. The business has a 50-day simple moving average of $38.72 and a 200 day simple moving average of $34.98. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -36.79 and a beta of 1.13.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $158.37 million during the quarter.

Marcus & Millichap Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 16th were issued a $0.25 dividend. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, September 16th. Marcus & Millichap’s payout ratio is currently -50.00%.

Marcus & Millichap 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.