Marcus & Millichap (NYSE:MMI) CEO Hessam Nadji Sells 500 Shares

Marcus & Millichap, Inc. (NYSE:MMI) CEO Hessam Nadji sold 500 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $30.39, for a total value of $15,195.00. Following the completion of the sale, the chief executive officer owned 480 shares of the company’s stock, valued at approximately $14,587.20. This trade represents a 51.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Marcus & Millichap Stock Down 0.5%

Shares of NYSE MMI traded down $0.15 during mid-day trading on Friday, hitting $30.18. 185,087 shares of the company traded hands, compared to its average volume of 267,032. Marcus & Millichap, Inc. has a 1 year low of $24.43 and a 1 year high of $33.62. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -3,014.79 and a beta of 1.25. The business has a 50 day moving average of $28.38 and a two-hundred day moving average of $27.46.

Marcus & Millichap (NYSE:MMI) last announced its earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). Marcus & Millichap had a positive return on equity of 0.43% and a negative net margin of 0.08%.The business had revenue of $171.47 million during the quarter, compared to the consensus estimate of $162.20 million. During the same period in the prior year, the business posted ($0.11) earnings per share. Marcus & Millichap’s revenue was up 18.3% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

MMI has been the topic of several research reports. Wall Street Zen lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings downgraded Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Sell” and a consensus price target of $28.00.

Hedge Funds Weigh In On Marcus & Millichap

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new stake in Marcus & Millichap during the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Marcus & Millichap by 79,800.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,598 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,596 shares during the period. State of Wyoming bought a new position in shares of Marcus & Millichap in the 1st quarter worth $64,000. Quantbot Technologies LP bought a new position in shares of Marcus & Millichap in the 2nd quarter worth $137,000. Finally, Strs Ohio bought a new position in Marcus & Millichap during the first quarter worth about $145,000. Institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Company Profile

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.