Marcus & Millichap Inc (MMI) Announces Earnings Results

Marcus & Millichap Inc (NYSE:MMI) announced its earnings results on Tuesday. The real estate investment trust reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. The business had revenue of $153.20 million for the quarter, compared to the consensus estimate of $150.57 million. Marcus & Millichap had a return on equity of 31.33% and a net margin of 9.22%. Marcus & Millichap’s revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS.

Earnings History for Marcus & Millichap (NYSE:MMI)

Several research analysts have issued reports on the company. William Blair cut shares of Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research report on Friday, March 24th. Zacks Investment Research cut shares of Marcus & Millichap from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Marcus & Millichap presently has a consensus rating of “Hold” and a consensus price target of $27.00.

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In other Marcus & Millichap news, SVP William E. Hughes sold 6,541 shares of Marcus & Millichap stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $27.99, for a total transaction of $183,082.59. Following the transaction, the senior vice president now owns 40,540 shares of the company’s stock, valued at $1,134,714.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hessam Nadji sold 13,500 shares of Marcus & Millichap stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $25.20, for a total transaction of $340,200.00. Following the transaction, the chief executive officer now directly owns 331,661 shares in the company, valued at approximately $8,357,857.20. The disclosure for this sale can be found here. Insiders have sold 550,684 shares of company stock worth $13,529,256 in the last ninety days. Insiders own 61.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Marcus & Millichap by 1.1% in the first quarter. Legal & General Group Plc now owns 5,227 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 57 shares during the period. Vanguard Group Inc. boosted its stake in shares of Marcus & Millichap by 8.0% in the first quarter. Vanguard Group Inc. now owns 1,199,574 shares of the real estate investment trust’s stock valued at $29,485,000 after buying an additional 89,030 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Marcus & Millichap by 18.6% in the first quarter. Dimensional Fund Advisors LP now owns 656,539 shares of the real estate investment trust’s stock valued at $16,137,000 after buying an additional 103,148 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Marcus & Millichap during the first quarter valued at $1,332,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Marcus & Millichap by 5.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 51,094 shares of the real estate investment trust’s stock valued at $1,256,000 after buying an additional 2,565 shares in the last quarter. 34.26% of the stock is currently owned by hedge funds and other institutional investors.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services. The Company offers three primary services to its clients: commercial real estate investment brokerage, financing, and ancillary services, including other research, advisory and consulting services.

12 Month Chart for NYSE:MMI

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