Phoenix Investments Holdings L Sells 100,000 Shares of Marcus & Millichap Inc (MMI) Stock

Marcus & Millichap Inc (NYSE:MMI) major shareholder Phoenix Investments Holdings L sold 100,000 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the transaction, the insider now directly owns 15,393,662 shares in the company, valued at approximately $538,778,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Phoenix Investments Holdings L also recently made the following trade(s):

  • On Thursday, September 13th, Phoenix Investments Holdings L sold 52,204 shares of Marcus & Millichap stock. The stock was sold at an average price of $35.45, for a total transaction of $1,850,631.80.
  • On Friday, September 7th, Phoenix Investments Holdings L sold 4,000 shares of Marcus & Millichap stock. The stock was sold at an average price of $35.44, for a total transaction of $141,760.00.
  • On Monday, September 10th, Phoenix Investments Holdings L sold 36,904 shares of Marcus & Millichap stock. The stock was sold at an average price of $35.42, for a total transaction of $1,307,139.68.
  • On Wednesday, September 5th, Phoenix Investments Holdings L sold 29,502 shares of Marcus & Millichap stock. The stock was sold at an average price of $36.39, for a total transaction of $1,073,577.78.
  • On Thursday, August 30th, Phoenix Investments Holdings L sold 11,534 shares of Marcus & Millichap stock. The stock was sold at an average price of $36.39, for a total transaction of $419,722.26.
  • On Tuesday, August 28th, Phoenix Investments Holdings L sold 45,085 shares of Marcus & Millichap stock. The stock was sold at an average price of $36.54, for a total transaction of $1,647,405.90.
  • On Friday, August 17th, Phoenix Investments Holdings L sold 42,929 shares of Marcus & Millichap stock. The stock was sold at an average price of $37.86, for a total transaction of $1,625,291.94.
  • On Monday, August 20th, Phoenix Investments Holdings L sold 109,458 shares of Marcus & Millichap stock. The stock was sold at an average price of $37.95, for a total transaction of $4,153,931.10.
  • On Wednesday, August 8th, Phoenix Investments Holdings L sold 94,321 shares of Marcus & Millichap stock. The stock was sold at an average price of $39.46, for a total transaction of $3,721,906.66.

Shares of NYSE:MMI opened at $35.06 on Friday. Marcus & Millichap Inc has a 52-week low of $28.06 and a 52-week high of $41.45. The firm has a market capitalization of $1.35 billion, a P/E ratio of 21.64, a P/E/G ratio of 2.94 and a beta of 1.13. The company has a quick ratio of 5.69, a current ratio of 5.69 and a debt-to-equity ratio of 0.02.

Marcus & Millichap (NYSE:MMI) last announced its earnings results on Tuesday, August 7th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.04. Marcus & Millichap had a net margin of 8.44% and a return on equity of 23.06%. The company had revenue of $199.40 million during the quarter, compared to analyst estimates of $194.60 million. Sell-side analysts predict that Marcus & Millichap Inc will post 1.99 EPS for the current year.

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its position in Marcus & Millichap by 1,029.1% in the first quarter. Royal Bank of Canada now owns 5,160 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 4,703 shares in the last quarter. California Public Employees Retirement System purchased a new position in Marcus & Millichap in the second quarter worth $246,000. Zacks Investment Management purchased a new position in Marcus & Millichap in the second quarter worth $246,000. Cubist Systematic Strategies LLC purchased a new position in Marcus & Millichap in the first quarter worth $258,000. Finally, WINTON GROUP Ltd purchased a new position in Marcus & Millichap in the second quarter worth $295,000. Institutional investors own 50.50% of the company’s stock.

Several research analysts have recently weighed in on MMI shares. ValuEngine cut shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research cut shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Saturday, August 11th. Finally, JMP Securities cut shares of Marcus & Millichap from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 22nd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $42.67.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc, a brokerage firm, provides investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.

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Insider Buying and Selling by Quarter for Marcus & Millichap (NYSE:MMI)

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