Trading Report: Today, 5,500 Shares of Stock are sold by Marcus & Millichap Inc. (MMI) SVP William E. Hughes

Today, 5,500 Shares of Stock are sold by Marcus & Millichap Inc. (MMI) SVP William E. Hughes

Marcus & Millichap Inc. (NYSE:MMI) SVP William E. Hughes sold 5,500 shares of Marcus & Millichap stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $27.51, for a total transaction of $151,305.00. Following the completion of the transaction, the senior vice president now directly owns 40,540 shares in the company, valued at approximately $1,115,255.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Marcus & Millichap Inc. (NYSE:MMI) opened at 27.59 on Tuesday. The firm has a market capitalization of $1.04 billion, a PE ratio of 16.04 and a beta of 1.53. Marcus & Millichap Inc. has a one year low of $18.77 and a one year high of $32.99. The firm has a 50 day moving average of $24.91 and a 200 day moving average of $25.82.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Thursday, November 3rd. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The business had revenue of $180.63 million for the quarter, compared to the consensus estimate of $169.80 million. Marcus & Millichap had a net margin of 9.22% and a return on equity of 31.33%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. Equities analysts forecast that Marcus & Millichap Inc. will post $1.70 EPS for the current year.

MMI has been the subject of several recent analyst reports. TheStreet upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a report on Monday, October 31st. Zacks Investment Research upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, November 8th.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP increased its position in shares of Marcus & Millichap by 48.0% in the second quarter. Royce & Associates LP now owns 2,365,410 shares of the real estate investment trust’s stock valued at $60,105,000 after buying an additional 767,478 shares during the period. FMR LLC bought a new position in shares of Marcus & Millichap during the second quarter valued at about $9,237,000. New Amsterdam Partners LLC NY bought a new position in shares of Marcus & Millichap during the second quarter valued at about $4,617,000. Route One Investment Company L.P. increased its position in shares of Marcus & Millichap by 14.0% in the second quarter. Route One Investment Company L.P. now owns 1,134,956 shares of the real estate investment trust’s stock valued at $28,839,000 after buying an additional 139,780 shares during the period. Finally, Dean Investment Associates LLC bought a new position in shares of Marcus & Millichap during the third quarter valued at about $3,238,000. Institutional investors and hedge funds own 33.84% of the company’s stock.

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