Russell Investments Group Ltd. Trims Stake in Marcus & Millichap, Inc. (NYSE:MMI)

Russell Investments Group Ltd. lowered its holdings in Marcus & Millichap, Inc. (NYSE:MMI) by 13.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,019 shares of the real estate investment trust’s stock after selling 24,288 shares during the period. Russell Investments Group Ltd.’s holdings in Marcus & Millichap were worth $5,969,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of MMI. R Squared Ltd purchased a new stake in Marcus & Millichap in the fourth quarter valued at approximately $66,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Marcus & Millichap during the 4th quarter valued at $172,000. BNP Paribas Financial Markets lifted its holdings in shares of Marcus & Millichap by 8.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,165 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 400 shares during the last quarter. Heritage Family Offices LLP grew its position in Marcus & Millichap by 7.1% in the fourth quarter. Heritage Family Offices LLP now owns 7,030 shares of the real estate investment trust’s stock worth $269,000 after acquiring an additional 464 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Marcus & Millichap by 5.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,756 shares of the real estate investment trust’s stock valued at $297,000 after acquiring an additional 421 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.

Insiders Place Their Bets

In related news, insider Gregory A. Laberge sold 2,915 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $34.78, for a total transaction of $101,383.70. Following the completion of the transaction, the insider now directly owns 2,307 shares in the company, valued at approximately $80,237.46. The trade was a 55.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 39.20% of the stock is owned by corporate insiders.

Marcus & Millichap Stock Up 1.6 %

NYSE MMI opened at $30.85 on Monday. The stock’s 50-day simple moving average is $35.80 and its two-hundred day simple moving average is $37.59. Marcus & Millichap, Inc. has a twelve month low of $29.36 and a twelve month high of $42.80. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -96.41 and a beta of 1.17.

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

Marcus & Millichap Dividend Announcement

The company also recently declared a semi-annual dividend, which was paid on Friday, April 4th. Investors of record on Wednesday, March 12th were paid a $0.25 dividend. The ex-dividend date was Wednesday, March 12th. This represents a yield of 1.3%. Marcus & Millichap’s payout ratio is -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.