Marcus & Millichap Inc (NYSE:MMI) major shareholder Phoenix Investments Holdings L sold 24,648 shares of Marcus & Millichap stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $36.20, for a total value of $892,257.60. Following the transaction, the insider now owns 15,186,021 shares in the company, valued at approximately $549,733,960.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Monday, November 5th, Phoenix Investments Holdings L sold 50,000 shares of Marcus & Millichap stock. The stock was sold at an average price of $34.82, for a total value of $1,741,000.00.
  • On Thursday, November 1st, Phoenix Investments Holdings L sold 100,000 shares of Marcus & Millichap stock. The stock was sold at an average price of $35.00, for a total value of $3,500,000.00.
  • On Thursday, September 13th, Phoenix Investments Holdings L sold 52,204 shares of Marcus & Millichap stock. The stock was sold at an average price of $35.45, for a total value of $1,850,631.80.
  • On Friday, September 7th, Phoenix Investments Holdings L sold 4,000 shares of Marcus & Millichap stock. The stock was sold at an average price of $35.44, for a total value 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 value 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 value 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 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.

NYSE:MMI opened at $37.38 on Monday. Marcus & Millichap Inc has a 52 week low of $28.89 and a 52 week high of $41.45. The company has a current ratio of 5.69, a quick ratio of 5.69 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 3.09 and a beta of 1.13.

Marcus & Millichap (NYSE:MMI) last posted its earnings results on Wednesday, November 7th. The real estate investment trust reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. Marcus & Millichap had a return on equity of 24.17% and a net margin of 8.83%. The company had revenue of $210.60 million for the quarter, compared to the consensus estimate of $192.58 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, research analysts predict that Marcus & Millichap Inc will post 1.99 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of MMI. Trexquant Investment LP acquired a new stake in shares of Marcus & Millichap in the third quarter valued at $298,000. BlackRock Inc. grew its stake in shares of Marcus & Millichap by 6.6% in the third quarter. BlackRock Inc. now owns 2,071,988 shares of the real estate investment trust’s stock valued at $71,918,000 after buying an additional 128,483 shares in the last quarter. Martingale Asset Management L P grew its stake in shares of Marcus & Millichap by 53.0% in the third quarter. Martingale Asset Management L P now owns 63,821 shares of the real estate investment trust’s stock valued at $2,216,000 after buying an additional 22,104 shares in the last quarter. Seizert Capital Partners LLC acquired a new stake in shares of Marcus & Millichap in the third quarter valued at $1,482,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Marcus & Millichap by 3.5% in the third quarter. Bank of New York Mellon Corp now owns 172,116 shares of the real estate investment trust’s stock valued at $5,975,000 after buying an additional 5,871 shares in the last quarter. Institutional investors own 50.88% of the company’s stock.

MMI has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Saturday, August 11th. JMP Securities downgraded Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 22nd. Finally, ValuEngine downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $42.67.

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Marcus & Millichap Company Profile

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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