8,121 Shares in Marcus & Millichap, Inc. (NYSE:MMI) Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. bought a new position in shares of Marcus & Millichap, Inc. (NYSE:MMI) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,121 shares of the real estate investment trust’s stock, valued at approximately $256,000.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Marcus & Millichap during the 1st quarter worth approximately $85,000. EntryPoint Capital LLC acquired a new position in Marcus & Millichap in the 1st quarter valued at $85,000. LRI Investments LLC acquired a new position in Marcus & Millichap in the 1st quarter valued at $143,000. Scharf Investments LLC grew its holdings 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 buying an additional 933 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Marcus & Millichap in the 4th quarter valued at $283,000. 62.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com upgraded Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Wells Fargo & Company upped their price objective on 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 Stock Down 2.2 %

Shares of MMI opened at $39.82 on Friday. Marcus & Millichap, Inc. has a 12-month low of $26.81 and a 12-month high of $44.24. The business has a 50-day simple moving average of $38.53 and a two-hundred day simple moving average of $34.62. The stock has a market cap of $1.54 billion, a PE 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, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $158.37 million during the quarter. Marcus & Millichap had a negative return on equity of 5.50% and a negative net margin of 5.68%.

Marcus & Millichap Dividend Announcement

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

Insider Activity

In related news, CEO Hessam Nadji sold 800 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $8,939,619.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Marcus & Millichap news, 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 transaction, the director now owns 24,971 shares in the company, valued at $998,840. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hessam Nadji sold 800 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $40.03, for a total value of $32,024.00. Following the completion of the transaction, the chief executive officer now owns 223,323 shares in the company, valued at approximately $8,939,619.69. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,823 shares of company stock valued at $1,164,595. Company insiders own 39.20% of the company’s stock.

About Marcus & Millichap

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.