ExodusPoint Capital Management LP Cuts Stake in Marcus & Millichap, Inc. (NYSE:MMI)

ExodusPoint Capital Management LP lessened its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 45.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,712 shares of the real estate investment trust’s stock after selling 25,229 shares during the period. ExodusPoint Capital Management LP owned about 0.08% of Marcus & Millichap worth $1,175,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Marcus & Millichap by 8.4% in the 3rd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Marcus & Millichap by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,522 shares of the real estate investment trust’s stock worth $2,478,000 after purchasing an additional 1,120 shares during the period. State Street Corp boosted its stake in Marcus & Millichap by 0.3% during the 3rd quarter. State Street Corp now owns 910,655 shares of the real estate investment trust’s stock worth $36,319,000 after purchasing an additional 2,877 shares during the period. Barclays PLC boosted its stake in Marcus & Millichap by 104.7% during the 3rd quarter. Barclays PLC now owns 60,379 shares of the real estate investment trust’s stock worth $2,393,000 after purchasing an additional 30,884 shares during the period. Finally, Geode Capital Management LLC raised its position in Marcus & Millichap by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 595,145 shares of the real estate investment trust’s stock worth $23,591,000 after buying an additional 5,525 shares during the last quarter. Institutional investors and hedge funds own 62.78% of the company’s stock.

Insiders Place Their Bets

In related news, insider Gregory A. Laberge sold 2,915 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $34.78, for a total value of $101,383.70. Following the completion of the sale, the insider now directly owns 2,307 shares in the company, valued at approximately $80,237.46. The trade was a 55.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 39.20% of the stock is currently owned by company insiders.

Marcus & Millichap Stock Performance

Shares of Marcus & Millichap stock opened at $31.63 on Thursday. The company has a market cap of $1.24 billion, a P/E ratio of -98.84 and a beta of 1.17. Marcus & Millichap, Inc. has a one year low of $29.36 and a one year high of $42.80. The firm has a fifty day moving average of $36.06 and a two-hundred day moving average of $37.73.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Friday, February 14th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the business earned ($0.27) EPS.

Marcus & Millichap Announces Dividend

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

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.