Marcus & Millichap, Inc. (NYSE:MMI) Position Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,899 shares of the real estate investment trust’s stock after selling 739 shares during the period. Thrivent Financial for Lutherans owned approximately 0.05% of Marcus & Millichap worth $627,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Louisiana State Employees Retirement System increased its position in shares of Marcus & Millichap by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the real estate investment trust’s stock worth $381,000 after acquiring an additional 300 shares in the last quarter. Natixis Advisors LLC grew its position in Marcus & Millichap by 2.1% during the 2nd quarter. Natixis Advisors LLC now owns 18,482 shares of the real estate investment trust’s stock worth $583,000 after purchasing an additional 374 shares in the last quarter. LRI Investments LLC grew its position in Marcus & Millichap by 11.0% during the 2nd quarter. LRI Investments LLC now owns 4,706 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 468 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in Marcus & Millichap by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 21,744 shares of the real estate investment trust’s stock valued at $685,000 after purchasing an additional 473 shares during the period. Finally, Pitcairn Co. lifted its holdings in shares of Marcus & Millichap by 4.5% in the first quarter. Pitcairn Co. now owns 13,005 shares of the real estate investment trust’s stock valued at $444,000 after purchasing an additional 563 shares in the last quarter. Institutional investors and hedge funds own 62.78% of the company’s stock.

Marcus & Millichap Stock Up 0.3 %

MMI stock opened at $35.93 on Wednesday. The company has a 50 day moving average of $38.57 and a two-hundred day moving average of $35.07. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -35.93 and a beta of 1.13. Marcus & Millichap, Inc. has a 12-month low of $26.81 and a 12-month high of $44.24.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business 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. Investors of record on Monday, September 16th were issued a $0.25 dividend. The ex-dividend date was Monday, September 16th. This represents a yield of 1.3%. Marcus & Millichap’s dividend payout ratio is currently -50.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MMI. Wells Fargo & Company lifted their price target on Marcus & Millichap from $20.00 to $30.00 and gave the company an “underweight” rating in a report on Friday, September 6th. StockNews.com raised Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th.

Insider Activity at Marcus & Millichap

In other Marcus & Millichap news, CEO Hessam Nadji sold 800 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $40.03, for a total value of $32,024.00. Following the completion of the sale, the chief executive officer now directly owns 223,323 shares of the company’s stock, valued at $8,939,619.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Hessam Nadji sold 800 shares of the company’s 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 owns 223,323 shares in the company, valued at approximately $8,939,619.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the director now directly owns 24,971 shares in the company, valued at $998,840. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,823 shares of company stock valued at $1,164,595. 39.20% of the stock is currently owned by corporate insiders.

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.