Marcus & Millichap, Inc. (NYSE:MMI) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 10.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,605 shares of the real estate investment trust’s stock after selling 2,216 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Marcus & Millichap were worth $586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MMI. Allspring Global Investments Holdings LLC acquired a new stake in shares of Marcus & Millichap in the 1st quarter worth approximately $85,000. EntryPoint Capital LLC bought a new stake in Marcus & Millichap during the first quarter worth approximately $85,000. LRI Investments LLC acquired a new stake in Marcus & Millichap in the first quarter worth approximately $143,000. Scharf Investments LLC boosted its stake in Marcus & Millichap by 18.8% during 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 in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Marcus & Millichap during the 4th quarter valued at $283,000. Institutional investors own 62.78% of the company’s stock.

Insider Buying and Selling at Marcus & Millichap

In other Marcus & Millichap news, CEO Hessam Nadji sold 659 shares of Marcus & Millichap stock in a transaction on Monday, August 26th. The shares were sold at an average price of $40.33, for a total transaction of $26,577.47. Following the completion of the sale, the chief executive officer now owns 209,123 shares of the company’s stock, valued at approximately $8,433,930.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Hessam Nadji sold 659 shares of Marcus & Millichap stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $40.33, for a total transaction of $26,577.47. Following the completion of the sale, the chief executive officer now directly owns 209,123 shares in the company, valued at approximately $8,433,930.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Norma J. Lawrence sold 1,123 shares of the stock in a transaction that occurred on 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 owns 24,971 shares in the company, valued at approximately $998,840. The disclosure for this sale can be found here. Insiders have sold a total of 30,823 shares of company stock valued at $1,164,595 in the last 90 days. 39.20% of the stock is currently owned by corporate insiders.

Marcus & Millichap Stock Performance

Marcus & Millichap stock opened at $39.82 on Friday. Marcus & Millichap, Inc. has a 1 year low of $26.81 and a 1 year high of $44.24. The firm’s 50 day moving average price is $38.53 and its two-hundred day moving average price is $34.62. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -39.82 and a beta of 1.13.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.14) earnings per share 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 for the quarter.

Marcus & Millichap Dividend Announcement

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a yield of 1.3%. Marcus & Millichap’s payout ratio is presently -50.00%.

Analyst Upgrades and Downgrades

MMI has been the subject of several research analyst reports. StockNews.com upgraded Marcus & Millichap from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company boosted their price target on shares of Marcus & Millichap from $20.00 to $30.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th.

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.