Marcus & Millichap (NYSE:MMI) Hits New 52-Week Low – Here’s What Happened

Marcus & Millichap, Inc. (NYSE:MMI) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $29.80 and last traded at $30.19, with a volume of 148789 shares traded. The stock had previously closed at $30.53.

Marcus & Millichap Stock Performance

The stock has a market capitalization of $1.18 billion, a P/E ratio of -94.34 and a beta of 1.17. The stock has a 50 day moving average of $36.64 and a 200 day moving average of $37.96.

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

Marcus & Millichap Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, April 4th. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a dividend yield of 1.3%. Marcus & Millichap’s dividend payout ratio (DPR) is presently -156.25%.

Insider Buying and Selling

In other Marcus & Millichap news, insider Gregory A. Laberge sold 2,915 shares of Marcus & Millichap stock in a transaction 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 sale, the insider now owns 2,307 shares of the company’s stock, valued at $80,237.46. The trade was a 55.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 39.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Sterling Capital Management LLC lifted its holdings in Marcus & Millichap by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 753 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 670 shares during the period. R Squared Ltd bought a new stake in shares of Marcus & Millichap during the 4th quarter worth about $66,000. State of Wyoming bought a new stake in shares of Marcus & Millichap during the 4th quarter worth about $156,000. KLP Kapitalforvaltning AS bought a new stake in Marcus & Millichap during the fourth quarter worth approximately $172,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of 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 buying an additional 400 shares during the period. 62.78% of the stock is owned by institutional investors and hedge funds.

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.