Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Marcus & Millichap, Inc. (NYSE:MMI)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 31.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,090 shares of the real estate investment trust’s stock after purchasing an additional 1,713 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Marcus & Millichap were worth $310,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC grew its stake in shares of Marcus & Millichap by 209.6% during the 3rd quarter. SG Americas Securities LLC now owns 16,160 shares of the real estate investment trust’s stock valued at $474,000 after buying an additional 10,941 shares during the period. Cambiar Investors LLC grew its position in Marcus & Millichap by 9.3% during the third quarter. Cambiar Investors LLC now owns 70,732 shares of the real estate investment trust’s stock valued at $2,075,000 after acquiring an additional 6,000 shares during the period. Jennison Associates LLC acquired a new stake in Marcus & Millichap during the third quarter worth about $6,544,000. Victory Capital Management Inc. raised its holdings in shares of Marcus & Millichap by 35.4% in the 3rd quarter. Victory Capital Management Inc. now owns 17,997 shares of the real estate investment trust’s stock worth $528,000 after purchasing an additional 4,706 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new position in shares of Marcus & Millichap in the 3rd quarter valued at about $416,000. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research report on Monday, March 25th.

Marcus & Millichap Trading Up 2.3 %

Shares of Marcus & Millichap stock opened at $33.30 on Monday. Marcus & Millichap, Inc. has a twelve month low of $26.81 and a twelve month high of $44.24. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -37.42 and a beta of 1.20. The company has a fifty day moving average price of $33.24 and a 200 day moving average price of $35.09.

Marcus & Millichap (NYSE:MMI) last issued its earnings results on Friday, February 16th. The real estate investment trust reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.01. The company had revenue of $166.24 million during the quarter. Marcus & Millichap had a negative return on equity of 5.16% and a negative net margin of 5.27%.

Marcus & Millichap Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, April 5th. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, March 11th. This represents a dividend yield of 1.3%. Marcus & Millichap’s dividend payout ratio is currently -56.18%.

Insider Activity

In related news, COO John David Parker sold 9,716 shares of Marcus & Millichap stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $32.83, for a total transaction of $318,976.28. Following the sale, the chief operating officer now owns 12,376 shares of the company’s stock, valued at approximately $406,304.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO John David Parker sold 9,716 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $32.83, for a total value of $318,976.28. Following the completion of the transaction, the chief operating officer now owns 12,376 shares of the company’s stock, valued at $406,304.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Richard D. Matricaria sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $33.32, for a total value of $316,540.00. Following the sale, the chief operating officer now owns 7,078 shares of the company’s stock, valued at approximately $235,838.96. The disclosure for this sale can be found here. Insiders own 39.20% of the company’s stock.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc, an investment brokerage company, provides real estate 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, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.