LRI Investments LLC Buys 468 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

LRI Investments LLC grew its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 11.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,706 shares of the real estate investment trust’s stock after buying an additional 468 shares during the period. LRI Investments LLC’s holdings in Marcus & Millichap were worth $148,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Marcus & Millichap by 1.0% during the 4th 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 in the last quarter. Reinhart Partners LLC. raised its stake in shares of Marcus & Millichap by 16.1% during the second quarter. Reinhart Partners LLC. now owns 1,706,366 shares of the real estate investment trust’s stock worth $53,785,000 after acquiring an additional 236,324 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Marcus & Millichap by 2.4% in the 4th quarter. Schroder Investment Management Group now owns 1,099,876 shares of the real estate investment trust’s stock worth $48,043,000 after acquiring an additional 25,982 shares during the last quarter. Tributary Capital Management LLC boosted its stake in shares of Marcus & Millichap by 10.6% in the 1st quarter. Tributary Capital Management LLC now owns 658,266 shares of the real estate investment trust’s stock valued at $22,493,000 after purchasing an additional 62,946 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Marcus & Millichap by 13.6% in the 4th quarter. First Trust Advisors LP now owns 612,983 shares of the real estate investment trust’s stock valued at $26,775,000 after purchasing an additional 73,351 shares in the last quarter. Institutional investors own 62.78% of the company’s stock.

Insider Activity

In other news, insider Gregory A. Laberge sold 1,000 shares of Marcus & Millichap stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $32.68, for a total transaction of $32,680.00. Following the completion of the transaction, the insider now directly owns 6,050 shares in the company, valued at $197,714. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Marcus & Millichap news, CEO Hessam Nadji sold 800 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $40.03, for a total transaction of $32,024.00. Following the completion of the sale, the chief executive officer now directly owns 223,323 shares in the company, valued at approximately $8,939,619.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gregory A. Laberge sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $32.68, for a total transaction of $32,680.00. Following the completion of the transaction, the insider now owns 6,050 shares in the company, valued at approximately $197,714. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,800 shares of company stock worth $593,754. Corporate insiders own 39.20% of the company’s stock.

Marcus & Millichap Stock Up 6.2 %

Shares of NYSE MMI traded up $2.33 during midday trading on Friday, reaching $39.91. The company had a trading volume of 205,038 shares, compared to its average volume of 141,349. The firm’s fifty day moving average price is $35.56 and its 200-day moving average price is $34.40. The stock has a market cap of $1.54 billion, a PE ratio of -39.91 and a beta of 1.12. Marcus & Millichap, Inc. 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 data on Wednesday, August 7th. The real estate investment trust reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. The firm had revenue of $158.37 million during the quarter. Marcus & Millichap had a negative net margin of 6.16% and a negative return on equity of 5.91%.

Marcus & Millichap Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, StockNews.com raised 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.