Marcus & Millichap (NYSE:MMI) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Marcus & Millichap, Inc. (NYSE:MMI) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $35.34 and traded as high as $38.75. Marcus & Millichap shares last traded at $38.70, with a volume of 70,700 shares traded.

Wall Street Analysts Forecast Growth

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

Marcus & Millichap Stock Down 1.7 %

The business has a 50-day simple moving average of $38.38 and a 200-day simple moving average of $35.40. The company has a market cap of $1.47 billion, a PE ratio of -41.78 and a beta of 1.13.

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, topping analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $158.37 million for the quarter. Marcus & Millichap had a negative net margin of 5.68% and a negative return on equity of 5.50%.

Marcus & Millichap Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 16th were given a dividend of $0.25 per share. This represents a dividend yield of 1.3%. The ex-dividend date was Monday, September 16th. Marcus & Millichap’s dividend payout ratio is currently -54.95%.

Insider Activity

In other Marcus & Millichap news, CEO Hessam Nadji sold 659 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $40.33, for a total value of $26,577.47. Following the sale, the chief executive officer now directly owns 209,123 shares of the company’s stock, valued at approximately $8,433,930.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Marcus & Millichap news, Director Norma J. Lawrence sold 1,123 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. Following the sale, the director now owns 24,971 shares of the company’s stock, valued at approximately $998,840. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hessam Nadji sold 659 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $40.33, for a total transaction of $26,577.47. Following the sale, the chief executive officer now owns 209,123 shares of the company’s stock, valued at $8,433,930.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,023 shares of company stock worth $603,521. Corporate insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Marcus & Millichap

Several hedge funds and other institutional investors have recently bought and sold shares of MMI. Allspring Global Investments Holdings LLC acquired a new position in Marcus & Millichap during the first quarter worth approximately $85,000. EntryPoint Capital LLC acquired a new stake in Marcus & Millichap during the 1st quarter worth $85,000. LRI Investments LLC purchased a new position in Marcus & Millichap during the 1st quarter worth $143,000. Heritage Family Offices LLP acquired a new position in Marcus & Millichap in the second quarter valued at $207,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Marcus & Millichap in the second quarter valued at about $212,000. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Marcus & Millichap Company Profile

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.