Amundi Grows Stake in Marcus & Millichap, Inc. (NYSE:MMI)

Amundi grew its holdings in Marcus & Millichap, Inc. (NYSE:MMI) by 195.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,687 shares of the real estate investment trust’s stock after acquiring an additional 7,730 shares during the quarter. Amundi’s holdings in Marcus & Millichap were worth $408,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Proficio Capital Partners LLC acquired a new stake in Marcus & Millichap during the 4th quarter worth approximately $830,000. Charles Schwab Investment Management Inc. lifted its position in Marcus & Millichap by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 403,560 shares of the real estate investment trust’s stock worth $15,440,000 after acquiring an additional 18,785 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Marcus & Millichap by 12.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 9,686 shares of the real estate investment trust’s stock worth $371,000 after acquiring an additional 1,035 shares during the period. Handelsbanken Fonder AB lifted its position in Marcus & Millichap by 11.6% during the 4th quarter. Handelsbanken Fonder AB now owns 8,666 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 900 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Marcus & Millichap by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 116,694 shares of the real estate investment trust’s stock worth $4,465,000 after acquiring an additional 3,562 shares during the period. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Price Performance

MMI opened at $35.91 on Friday. The business has a 50 day simple moving average of $37.12 and a 200-day simple moving average of $38.37. The stock has a market capitalization of $1.40 billion, a P/E ratio of -112.22 and a beta of 1.15. Marcus & Millichap, Inc. has a 12 month low of $29.93 and a 12 month high of $42.80.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Friday, February 14th. The real estate investment trust reported $0.22 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.28. The business had revenue of $240.08 million during the quarter. Marcus & Millichap had a negative return on equity of 1.98% and a negative net margin of 1.78%. During the same period in the prior year, the business earned ($0.27) earnings per share.

Marcus & Millichap Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, April 4th. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.25 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, March 12th. Marcus & Millichap’s payout ratio is -156.25%.

Insiders Place Their Bets

In other Marcus & Millichap news, insider Gregory A. Laberge sold 2,915 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $34.78, for a total transaction of $101,383.70. Following the completion of the sale, the insider now owns 2,307 shares of the company’s stock, valued at approximately $80,237.46. The trade was a 55.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 39.20% of the stock is currently owned by company insiders.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.