First Hawaiian Bank Buys Shares of 8,326 Marcus & Millichap, Inc. (NYSE:MMI)

First Hawaiian Bank purchased a new position in shares of Marcus & Millichap, Inc. (NYSE:MMI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,326 shares of the real estate investment trust’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MMI. Signaturefd LLC increased its position in Marcus & Millichap by 112.6% during the fourth quarter. Signaturefd LLC now owns 623 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 330 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Marcus & Millichap during the 1st quarter worth approximately $85,000. EntryPoint Capital LLC purchased a new stake in shares of Marcus & Millichap during the 1st quarter valued at approximately $85,000. LRI Investments LLC acquired a new position in Marcus & Millichap in the first quarter valued at approximately $143,000. Finally, Scharf Investments LLC lifted its holdings in Marcus & Millichap by 18.8% in the first quarter. Scharf Investments LLC now owns 5,905 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 933 shares during the last quarter. Institutional investors and hedge funds own 62.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th.

Marcus & Millichap Trading Up 2.0 %

MMI traded up $0.75 on Tuesday, hitting $38.65. The company had a trading volume of 41,308 shares, compared to its average volume of 145,983. The company’s fifty day moving average price is $33.75 and its 200 day moving average price is $34.40. Marcus & Millichap, Inc. has a 1 year low of $26.81 and a 1 year high of $44.24. The firm has a market cap of $1.49 billion, a P/E ratio of -38.35 and a beta of 1.12.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.26) earnings per share for the quarter. Marcus & Millichap had a negative net margin of 6.16% and a negative return on equity of 5.91%. The company had revenue of $129.10 million for the quarter.

Marcus & Millichap Announces Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 16th will be given a $0.25 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Monday, September 16th. Marcus & Millichap’s payout ratio is -50.00%.

Insiders Place Their Bets

In other news, CEO Hessam Nadji sold 800 shares of Marcus & Millichap stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $40.03, for a total value of $32,024.00. Following the completion of the sale, the chief executive officer now directly owns 223,323 shares of the company’s stock, valued at $8,939,619.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, COO John David Parker sold 1,835 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $35.29, for a total transaction of $64,757.15. Following the sale, the chief operating officer now directly owns 13,373 shares of the company’s stock, valued at approximately $471,933.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hessam Nadji sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $40.03, for a total transaction of $32,024.00. Following the completion of the transaction, the chief executive officer now directly owns 223,323 shares of the company’s stock, valued at approximately $8,939,619.69. The disclosure for this sale can be found here. Insiders have sold 18,635 shares of company stock worth $658,511 over the last ninety days. Corporate 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.