Marcus & Millichap Inc (MMI) Major Shareholder Sells $1,741,000.00 in Stock

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Marcus & Millichap Inc (NYSE:MMI) major shareholder Phoenix Investments Holdings L sold 50,000 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $34.82, for a total transaction of $1,741,000.00. Following the sale, the insider now directly owns 15,293,662 shares of the company’s stock, valued at $532,525,310.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Thursday, November 1st, Phoenix Investments Holdings L sold 100,000 shares of Marcus & Millichap stock. The shares were sold at an average price of $35.00, for a total transaction of $3,500,000.00.
  • On Thursday, September 13th, Phoenix Investments Holdings L sold 52,204 shares of Marcus & Millichap stock. The shares were sold at an average price of $35.45, for a total transaction of $1,850,631.80.
  • On Friday, September 7th, Phoenix Investments Holdings L sold 4,000 shares of Marcus & Millichap stock. The shares were sold at an average price of $35.44, for a total transaction of $141,760.00.
  • On Monday, September 10th, Phoenix Investments Holdings L sold 36,904 shares of Marcus & Millichap stock. The shares were sold at an average price of $35.42, for a total transaction of $1,307,139.68.
  • On Wednesday, September 5th, Phoenix Investments Holdings L sold 29,502 shares of Marcus & Millichap stock. The shares were sold at an average price of $36.39, for a total transaction of $1,073,577.78.
  • 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $3,721,906.66.

Shares of NYSE:MMI opened at $36.89 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.69 and a quick ratio of 5.69. The company has a market capitalization of $1.36 billion, a P/E ratio of 22.77, a PEG ratio of 2.94 and a beta of 1.13. Marcus & Millichap Inc has a 52 week low of $28.89 and a 52 week high of $41.45.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Wednesday, November 7th. The real estate investment trust reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.04. The business had revenue of $210.60 million during the quarter, compared to the consensus estimate of $192.58 million. Marcus & Millichap had a net margin of 8.44% and a return on equity of 23.06%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, research analysts expect that Marcus & Millichap Inc will post 1.99 earnings per share for the current year.

MMI has been the subject of several recent research reports. Zacks Investment Research lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Saturday, August 11th. ValuEngine lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, JMP Securities lowered shares of Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 22nd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $42.67.

Several large investors have recently modified their holdings of MMI. JPMorgan Chase & Co. lifted its position in shares of Marcus & Millichap by 192.5% in the 1st quarter. JPMorgan Chase & Co. now owns 55,805 shares of the real estate investment trust’s stock valued at $2,012,000 after acquiring an additional 36,726 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Marcus & Millichap by 6.3% in the 1st quarter. Russell Investments Group Ltd. now owns 35,276 shares of the real estate investment trust’s stock valued at $1,272,000 after acquiring an additional 2,083 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Marcus & Millichap in the 1st quarter valued at approximately $258,000. Legal & General Group Plc lifted its position in shares of Marcus & Millichap by 61.0% in the 1st quarter. Legal & General Group Plc now owns 8,431 shares of the real estate investment trust’s stock valued at $304,000 after acquiring an additional 3,194 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Marcus & Millichap by 1,029.1% in the 1st quarter. Royal Bank of Canada now owns 5,160 shares of the real estate investment trust’s stock valued at $186,000 after acquiring an additional 4,703 shares in the last quarter. Institutional investors and hedge funds own 50.88% of the company’s stock.

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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.

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