Royce & Associates LP Lowers Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

Royce & Associates LP decreased its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,198,380 shares of the real estate investment trust’s stock after selling 104,773 shares during the quarter. Marcus & Millichap accounts for approximately 0.8% of Royce & Associates LP’s portfolio, making the stock its 11th largest holding. Royce & Associates LP owned 5.66% of Marcus & Millichap worth $84,110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its holdings in Marcus & Millichap by 6.3% in the third quarter. Janney Montgomery Scott LLC now owns 23,421 shares of the real estate investment trust’s stock valued at $928,000 after purchasing an additional 1,392 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Marcus & Millichap by 6.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 8,651 shares of the real estate investment trust’s stock worth $343,000 after acquiring an additional 530 shares during the last quarter. Natixis Advisors LLC increased its position in Marcus & Millichap by 15.7% during the third quarter. Natixis Advisors LLC now owns 21,377 shares of the real estate investment trust’s stock worth $847,000 after purchasing an additional 2,895 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Marcus & Millichap by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 384,775 shares of the real estate investment trust’s stock valued at $15,249,000 after buying an additional 12,401 shares during the period. Finally, BNP Paribas Financial Markets raised its position in Marcus & Millichap by 8.4% in the third quarter. BNP Paribas Financial Markets now owns 5,165 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 62.78% of the company’s stock.

Insider Buying and Selling

In other Marcus & Millichap news, insider Gregory A. Laberge sold 828 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $38.26, for a total transaction of $31,679.28. Following the sale, the insider now owns 5,222 shares of the company’s stock, valued at approximately $199,793.72. This trade represents a 13.69 % 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. 39.20% of the stock is owned by insiders.

Marcus & Millichap Price Performance

Shares of MMI stock opened at $34.43 on Friday. The company has a 50-day moving average of $37.14 and a two-hundred day moving average of $38.47. Marcus & Millichap, Inc. has a 1-year low of $29.93 and a 1-year high of $42.80. The firm has a market cap of $1.34 billion, a PE ratio of -107.59 and a beta of 1.15.

Marcus & Millichap (NYSE:MMI) last announced its earnings results on Friday, February 14th. The real estate investment trust reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.28. The company had revenue of $240.08 million during the quarter. Marcus & Millichap had a negative return on equity of 1.98% and a negative net margin of 1.78%. During the same quarter last year, the business earned ($0.27) earnings per share.

Marcus & Millichap Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Friday, April 4th. Shareholders of record on Wednesday, March 12th will be given a $0.25 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, March 12th. Marcus & Millichap’s dividend payout ratio is currently -156.25%.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.