Marcus & Millichap, Inc. (NYSE:MMI) Sees Significant Decrease in Short Interest

Marcus & Millichap, Inc. (NYSE:MMI) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totalling 550,000 shares, a decline of 19.3% from the September 15th total of 681,300 shares. Approximately 2.3% of the company’s stock are sold short. Based on an average daily trading volume, of 99,100 shares, the days-to-cover ratio is currently 5.5 days.

Marcus & Millichap Stock Performance

Shares of NYSE MMI traded up $0.31 during mid-day trading on Tuesday, reaching $37.15. The company had a trading volume of 83,386 shares, compared to its average volume of 130,837. The business’s 50-day simple moving average is $38.33 and its 200 day simple moving average is $35.18. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -37.15 and a beta of 1.13. Marcus & Millichap has a one year low of $26.81 and a one year high of $44.24.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. Marcus & Millichap had a negative return on equity of 5.50% and a negative net margin of 5.68%. The company had revenue of $158.37 million for the quarter.

Marcus & Millichap Dividend Announcement

The business also recently disclosed a Semi-Annual dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 16th were given a dividend of $0.25 per share. This represents a yield of 1.3%. The ex-dividend date was Monday, September 16th. Marcus & Millichap’s dividend payout ratio is -50.00%.

Analyst Upgrades and Downgrades

MMI has been the subject of several recent research reports. StockNews.com upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company raised their price target on Marcus & Millichap from $20.00 to $30.00 and gave the company an “underweight” rating in a report on Friday, September 6th.

Insider Buying and Selling at Marcus & Millichap

In related news, CEO Hessam Nadji sold 800 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.03, for a total transaction of $32,024.00. Following the sale, the chief executive officer now directly owns 223,323 shares in the company, valued at $8,939,619.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Hessam Nadji sold 800 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.03, for a total value of $32,024.00. Following the completion of the transaction, the chief executive officer now directly owns 223,323 shares of the company’s stock, valued at approximately $8,939,619.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Norma J. Lawrence sold 1,123 shares of Marcus & Millichap stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $40.00, for a total value of $44,920.00. Following the completion of the sale, the director now directly owns 24,971 shares in the company, valued at $998,840. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,823 shares of company stock valued at $635,545. 39.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MMI. Wellington Management Group LLP increased its holdings in Marcus & Millichap by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 420,106 shares of the real estate investment trust’s stock worth $18,350,000 after purchasing an additional 19,764 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Marcus & Millichap by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 3,841,718 shares of the real estate investment trust’s stock valued at $167,806,000 after buying an additional 37,821 shares during the period. Reinhart Partners LLC. raised its holdings in Marcus & Millichap by 0.9% in the 1st quarter. Reinhart Partners LLC. now owns 1,470,042 shares of the real estate investment trust’s stock valued at $50,231,000 after buying an additional 12,433 shares during the last quarter. Scharf Investments LLC boosted its position in Marcus & Millichap by 18.8% during the 1st quarter. Scharf Investments LLC now owns 5,905 shares of the real estate investment trust’s stock worth $202,000 after buying an additional 933 shares during the period. Finally, Chatham Capital Group Inc. grew its holdings in Marcus & Millichap by 12.0% during the 1st quarter. Chatham Capital Group Inc. now owns 33,900 shares of the real estate investment trust’s stock worth $1,158,000 after acquiring an additional 3,620 shares during the last quarter. 62.78% of the stock is currently owned by institutional investors.

About Marcus & Millichap

Marcus & Millichap, Inc, an investment brokerage company, provides real estate 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, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.