Marcus & Millichap director sells over $44k in company stock

In a recent transaction, Norma J. Lawrence, a director at Marcus & Millichap, Inc. (NYSE:MMI), sold 1,123 shares of the company's common stock. The sale was executed at a price of $40.00 per share, resulting in a total transaction value of $44,920.


The transaction took place on September 13, 2024, as indicated by a filing with the Securities and Exchange Commission. Following the sale, Lawrence still indirectly holds 24,971 shares of Marcus & Millichap's common stock through a trust. The Lawrence Family Trust, which holds these shares, is dated April 18, 2001, and was restated on September 30, 2010. As trustee, Ms. Lawrence is deemed to have beneficial ownership over the shares.


Marcus & Millichap, Inc., headquartered in Calabasas, California, operates in the real estate sector, providing brokerage services and managers for various real estate investments.


Investors and market watchers often keep an eye on insider transactions as they can provide insights into a company's financial health or the perspectives of its executives regarding the stock's value. The recent sale by Director Lawrence may thus be of interest to current and potential shareholders.


The transaction was signed off by Mark Cortell, serving as Attorney-in-Fact for Norma J. Lawrence, on September 17, 2024.



In other recent news, Marcus & Millichap, a leading real estate brokerage firm, reported its Q2 2024 financial results which showcased a blend of challenges and growth indicators. The company disclosed a revenue of $158 million and a net loss of $5.5 million, attributed to extended marketing and closing timelines due to bid/ask spreads and limited financing. Despite a decrease in total sales volume, Marcus & Millichap experienced growth in inventory and more realistic pricing, hinting at potential market stabilization.


Furthermore, the firm closed over 1,200 brokerage transactions, totaling $7.2 billion in volume, and observed an 11% increase in financing volume. The company is well-capitalized with no debt and $336 million in cash, having returned over $160 million to shareholders.


Marcus & Millichap anticipates a measured market recovery in the near term, with expectations of a more favorable cycle by 2025. The company's focus remains on client engagement, platform improvement, and investing in talent and technology. These recent developments highlight the company's resilience and commitment to navigating the challenging real estate market.
InvestingPro Insights


Amidst the insider trading activity at Marcus & Millichap, Inc. (NYSE:MMI), the company's financial metrics and market performance provide additional context for investors. With a market capitalization of $1.55 billion, the firm shows a negative P/E ratio of -44.41, which suggests that investors are expecting future earnings growth despite the company's current lack of profitability. The adjusted P/E ratio for the last twelve months as of Q2 2024 is similarly negative at -43.79, indicating consistent expectations from the market.


InvestingPro Tips indicate that Marcus & Millichap's PEG ratio, which stands at 0.13 for the same period, reflects a potentially undervalued stock if the company's future growth is taken into account. Moreover, the Price / Book ratio is 2.46, which can be attractive to value investors seeking assets that could be trading below their intrinsic value based on the book value of the company.


From a revenue standpoint, Marcus & Millichap has experienced a decline, with revenue growth down by -31.88% over the last twelve months as of Q2 2024. However, the gross profit margin remains relatively healthy at 37.47%, suggesting that the company maintains a solid profitability ratio on its sales.


For those looking to delve deeper, InvestingPro offers additional insights with a total of [insert number] tips available for MMI, providing a comprehensive analysis of the company's financial health and investment potential.


Finally, investors should note that the company's shares are trading at 90.1% of their 52-week high, with a recent price of $40.34. Despite a year-to-date price total return of -7.5%, the 1-year price total return stands at a robust 27.98%, which could signal a positive outlook among investors over a longer horizon.

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Source: Investing.com