Hessam Nadji Sells 18,500 Shares of Marcus & Millichap, Inc. (MMI) Stock
Marcus & Millichap, Inc. (NYSE:MMI) CEO Hessam Nadji sold 18,500 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $30.40, for a total transaction of $562,400.00. Following the sale, the chief executive officer now owns 303,923 shares of the company’s stock, valued at approximately $9,239,259.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Marcus & Millichap, Inc. (NYSE:MMI) traded down $0.40 on Monday, hitting $30.08. 139,500 shares of the stock were exchanged, compared to its average volume of 138,589. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.62 and a quick ratio of 4.62. The stock has a market cap of $1,147.28, a P/E ratio of 19.53, a PEG ratio of 3.31 and a beta of 1.55. Marcus & Millichap, Inc. has a 1-year low of $23.22 and a 1-year high of $30.98.
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MMI has been the subject of several recent analyst reports. BidaskClub upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $31.00 target price (up previously from $25.00) on shares of Marcus & Millichap in a research note on Wednesday, November 8th. Six research analysts have rated the stock with a hold rating, Marcus & Millichap currently has an average rating of “Hold” and a consensus price target of $31.00.
Several institutional investors and hedge funds have recently made changes to their positions in MMI. Granite Investment Partners LLC purchased a new position in shares of Marcus & Millichap in the 3rd quarter valued at about $14,391,000. Tributary Capital Management LLC purchased a new position in shares of Marcus & Millichap in the 2nd quarter valued at about $13,409,000. Vivaldi Asset Management LLC increased its holdings in shares of Marcus & Millichap by 3,527.7% in the 2nd quarter. Vivaldi Asset Management LLC now owns 363,316 shares of the real estate investment trust’s stock valued at $9,577,000 after purchasing an additional 353,301 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Marcus & Millichap by 9.0% in the 2nd quarter. Royce & Associates LP now owns 3,796,629 shares of the real estate investment trust’s stock valued at $100,079,000 after purchasing an additional 313,305 shares in the last quarter. Finally, New Mountain Vantage Advisers L.L.C. purchased a new position in shares of Marcus & Millichap in the 2nd quarter valued at about $3,914,000. Institutional investors and hedge funds own 41.57% of the company’s stock.
Marcus & Millichap Company Profile
Marcus & Millichap, Inc is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services. The Company offers three primary services to its clients: commercial real estate investment brokerage, financing, and ancillary services, including other research, advisory and consulting services.
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