Insider Selling: Marcus & Millichap Inc (MMI) Major Shareholder Sells 29,502 Shares of Stock

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Marcus & Millichap Inc (NYSE:MMI) major shareholder Phoenix Investments Holdings L sold 29,502 shares of Marcus & Millichap stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $36.39, for a total value of $1,073,577.78. Following the completion of the transaction, the insider now owns 15,545,716 shares of the company’s stock, valued at approximately $565,708,605.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Phoenix Investments Holdings L also recently made the following trade(s):

  • On Thursday, August 30th, Phoenix Investments Holdings L sold 11,534 shares of Marcus & Millichap stock. The shares were sold at an average price of $36.39, for a total value of $419,722.26.
  • On Tuesday, August 28th, Phoenix Investments Holdings L sold 45,085 shares of Marcus & Millichap stock. The shares were sold at an average price of $36.54, for a total value of $1,647,405.90.
  • On Friday, August 17th, Phoenix Investments Holdings L sold 42,929 shares of Marcus & Millichap stock. The shares were sold at an average price of $37.86, for a total value of $1,625,291.94.
  • On Monday, August 20th, Phoenix Investments Holdings L sold 109,458 shares of Marcus & Millichap stock. The shares were sold at an average price of $37.95, for a total value of $4,153,931.10.
  • On Wednesday, August 8th, Phoenix Investments Holdings L sold 94,321 shares of Marcus & Millichap stock. The shares were sold at an average price of $39.46, for a total value of $3,721,906.66.
  • On Wednesday, August 1st, Phoenix Investments Holdings L sold 18,385 shares of Marcus & Millichap stock. The shares were sold at an average price of $39.90, for a total value of $733,561.50.
  • On Friday, August 3rd, Phoenix Investments Holdings L sold 66,878 shares of Marcus & Millichap stock. The shares were sold at an average price of $39.65, for a total value of $2,651,712.70.
  • On Monday, July 30th, Phoenix Investments Holdings L sold 3,000 shares of Marcus & Millichap stock. The shares were sold at an average price of $40.27, for a total value of $120,810.00.
  • On Friday, July 27th, Phoenix Investments Holdings L sold 8,000 shares of Marcus & Millichap stock. The shares were sold at an average price of $40.68, for a total value of $325,440.00.
  • On Wednesday, July 25th, Phoenix Investments Holdings L sold 50,000 shares of Marcus & Millichap stock. The shares were sold at an average price of $40.51, for a total value of $2,025,500.00.

MMI stock opened at $35.16 on Friday. The company has a market cap of $1.38 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 2.99 and a beta of 1.25. Marcus & Millichap Inc has a fifty-two week low of $24.34 and a fifty-two week high of $41.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.69 and a quick ratio of 5.69.

Marcus & Millichap (NYSE:MMI) last posted its earnings results on Tuesday, August 7th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.04. The firm had revenue of $199.40 million during the quarter, compared to analysts’ expectations of $194.60 million. Marcus & Millichap had a return on equity of 23.06% and a net margin of 8.44%. sell-side analysts anticipate that Marcus & Millichap Inc will post 1.99 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on the company. Citigroup boosted their target price on Marcus & Millichap to $46.00 and gave the stock a “buy” rating in a research note on Monday, July 2nd. Zacks Investment Research upgraded Marcus & Millichap from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Tuesday, June 26th. Finally, JMP Securities cut Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 22nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Marcus & Millichap currently has a consensus rating of “Hold” and a consensus price target of $42.67.

A number of hedge funds have recently bought and sold shares of MMI. Wells Fargo & Company MN lifted its stake in Marcus & Millichap by 12.6% during the first quarter. Wells Fargo & Company MN now owns 192,662 shares of the real estate investment trust’s stock worth $6,946,000 after purchasing an additional 21,490 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Marcus & Millichap during the first quarter worth approximately $1,101,000. Mackay Shields LLC purchased a new stake in Marcus & Millichap during the first quarter worth approximately $1,615,000. Summit Global Investments purchased a new stake in Marcus & Millichap during the first quarter worth approximately $588,000. Finally, Trexquant Investment LP acquired a new position in Marcus & Millichap during the first quarter worth approximately $238,000. Hedge funds and other institutional investors own 51.34% of the company’s stock.

About Marcus & Millichap

Marcus & Millichap, Inc, a brokerage firm, provides 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, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.

See Also: Diversification

Insider Buying and Selling by Quarter for Marcus & Millichap (NYSE:MMI)

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