Marcus & Millichap (NYSE:MMI) Hits New 12-Month Low – Should You Sell?

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

Marcus & Millichap Price Performance

The business’s 50-day moving average price is $36.64 and its 200 day moving average price is $37.96. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -94.34 and a beta of 1.17.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results 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 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 period in the previous year, the business posted ($0.27) EPS.

Marcus & Millichap Announces Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, April 4th. Stockholders of record on Wednesday, March 12th were given a $0.25 dividend. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, March 12th. Marcus & Millichap’s payout ratio is currently -156.25%.

Insider Activity

In related news, insider Gregory A. Laberge sold 828 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $38.26, for a total value of $31,679.28. Following the completion of the sale, the insider now directly owns 5,222 shares of the company’s stock, valued at $199,793.72. The trade was a 13.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Marcus & Millichap

Several institutional investors and hedge funds have recently made changes to their positions in MMI. Sterling Capital Management LLC increased its stake in Marcus & Millichap by 807.2% during the fourth quarter. Sterling Capital Management LLC now owns 753 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 670 shares during the last quarter. R Squared Ltd bought a new stake in shares of Marcus & Millichap during the 4th quarter valued at about $66,000. State of Wyoming bought a new stake in shares of Marcus & Millichap during the 4th quarter valued at about $156,000. KLP Kapitalforvaltning AS acquired a new stake in Marcus & Millichap during the fourth quarter worth about $172,000. Finally, BNP Paribas Financial Markets lifted its holdings in 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 worth $205,000 after acquiring an additional 400 shares during the last quarter. 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.