LRI Investments LLC Takes Position in Marcus & Millichap, Inc. (NYSE:MMI)

LRI Investments LLC purchased a new position in shares of Marcus & Millichap, Inc. (NYSE:MMI) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,238 shares of the real estate investment trust’s stock, valued at approximately $143,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC raised its stake in Marcus & Millichap by 112.6% during the 4th quarter. Signaturefd LLC now owns 623 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 330 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Marcus & Millichap during the 1st quarter worth $85,000. EntryPoint Capital LLC acquired a new stake in Marcus & Millichap during the 1st quarter worth $85,000. Scharf Investments LLC raised its stake 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 acquiring an additional 933 shares in the last quarter. Finally, Savant Capital LLC acquired a new stake in Marcus & Millichap during the 4th quarter worth $219,000. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Marcus & Millichap Stock Down 0.8 %

Shares of NYSE:MMI opened at $38.98 on Friday. Marcus & Millichap, Inc. has a one year low of $26.81 and a one year high of $44.24. The company has a 50-day simple moving average of $33.65 and a 200-day simple moving average of $34.43.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.26) earnings per share (EPS) for the quarter. Marcus & Millichap had a negative net margin of 6.16% and a negative return on equity of 5.91%. The company had revenue of $129.10 million during the quarter.

Marcus & Millichap Announces Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 16th. Marcus & Millichap’s dividend payout ratio is presently -50.00%.

Insider Buying and Selling at Marcus & Millichap

In other Marcus & Millichap news, CEO Hessam Nadji sold 15,000 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $35.27, for a total value of $529,050.00. Following the transaction, the chief executive officer now directly owns 224,123 shares of the company’s stock, valued at approximately $7,904,818.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Marcus & Millichap news, COO John David Parker sold 1,835 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $35.29, for a total value of $64,757.15. Following the transaction, the chief operating officer now directly owns 13,373 shares of the company’s stock, valued at approximately $471,933.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hessam Nadji sold 15,000 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $35.27, for a total transaction of $529,050.00. Following the completion of the transaction, the chief executive officer now directly owns 224,123 shares in the company, valued at $7,904,818.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,635 shares of company stock valued at $658,511. 39.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th.

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.