Marcus & Millichap, Inc. (NYSE:MMI) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lowered its position in Marcus & Millichap, Inc. (NYSE:MMI) by 19.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,427 shares of the real estate investment trust’s stock after selling 40,576 shares during the quarter. American Century Companies Inc. owned 0.45% of Marcus & Millichap worth $5,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in Marcus & Millichap in the first quarter valued at $85,000. EntryPoint Capital LLC purchased a new position in Marcus & Millichap in the first quarter valued at about $85,000. LRI Investments LLC purchased a new position in Marcus & Millichap in the first quarter valued at about $143,000. Scharf Investments LLC raised its position in Marcus & Millichap by 18.8% in the first 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 during the period. Finally, Heritage Family Offices LLP purchased a new position in Marcus & Millichap in the second quarter valued at about $207,000. Institutional investors and hedge funds own 62.78% of the company’s stock.

Marcus & Millichap Stock Performance

Shares of NYSE MMI opened at $40.07 on Wednesday. Marcus & Millichap, Inc. has a 1 year low of $26.81 and a 1 year high of $44.24. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -40.07 and a beta of 1.13. The stock’s 50-day simple moving average is $38.66 and its 200-day simple moving average is $34.69.

Marcus & Millichap (NYSE:MMI) last announced its earnings results 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 business had revenue of $158.37 million for the quarter.

Marcus & Millichap Announces Dividend

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

Analysts Set New Price Targets

Several research firms have commented on MMI. Wells Fargo & Company raised their price objective on Marcus & Millichap from $20.00 to $30.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. StockNews.com raised Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th.

Insider Transactions at Marcus & Millichap

In related news, CEO Hessam Nadji sold 15,000 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $35.27, for a total value of $529,050.00. Following the completion of the sale, the chief executive officer now directly owns 224,123 shares of the company’s stock, valued at $7,904,818.21. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Norma J. Lawrence sold 1,123 shares of the business’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 sale, the director now directly owns 24,971 shares of the company’s stock, valued at $998,840. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Hessam Nadji sold 15,000 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $35.27, for a total value of $529,050.00. Following the completion of the sale, the chief executive officer now directly owns 224,123 shares of the company’s stock, valued at $7,904,818.21. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,823 shares of company stock valued at $1,164,595. 39.20% of the stock is currently owned by insiders.

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.