Marcus & Millichap, Inc. (NYSE:MMI) Insider Gregory A. Laberge Sells 828 Shares

Marcus & Millichap, Inc. (NYSE:MMI) insider Gregory A. Laberge sold 828 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $38.26, for a total transaction of $31,679.28. Following the completion of the sale, the insider now directly owns 5,222 shares of the company’s stock, valued at approximately $199,793.72. This trade represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Marcus & Millichap Price Performance

NYSE:MMI opened at $39.53 on Thursday. Marcus & Millichap, Inc. has a 1-year low of $29.93 and a 1-year high of $42.80. The company has a 50-day moving average of $37.46 and a 200 day moving average of $38.61. The firm has a market cap of $1.53 billion, a PE ratio of -123.54 and a beta of 1.16.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings data on Friday, February 14th. The real estate investment trust reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.28. Marcus & Millichap had a negative net margin of 1.78% and a negative return on equity of 1.98%. The company had revenue of $240.08 million during the quarter. During the same period last year, the company earned ($0.27) earnings per share.

Marcus & Millichap Dividend Announcement

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

Hedge Funds Weigh In On Marcus & Millichap

A number of large investors have recently added to or reduced their stakes in MMI. Sterling Capital Management LLC raised its holdings in Marcus & Millichap by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 753 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 670 shares in the last quarter. R Squared Ltd bought a new position in Marcus & Millichap in the fourth quarter worth about $66,000. State of Wyoming bought a new position in Marcus & Millichap in the fourth quarter worth about $156,000. KLP Kapitalforvaltning AS bought a new position in Marcus & Millichap in the fourth quarter worth about $172,000. Finally, BNP Paribas Financial Markets raised its holdings in Marcus & Millichap by 8.4% in the third quarter. BNP Paribas Financial Markets now owns 5,165 shares of the real estate investment trust’s stock worth $205,000 after purchasing an additional 400 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors.

About Marcus & Millichap

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.