CALABASAS, CA – John David Parker, the Executive Vice President and Chief Operating Officer of the Eastern Division at Marcus & Millichap, Inc. (NYSE:MMI), has sold a total of $64,755 worth of company stock, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on May 17, 2024, involved the sale of 1,835 shares of common stock at a weighted average price of $35.2892 per share.
The sales were conducted in multiple trades with prices ranging between $35.249 and $35.29. Following this transaction, Parker's direct ownership in the company stands at 13,373 shares. The filing included a note stating that the reported price reflects the weighted average sales price and that Parker is prepared to provide full information regarding the number of shares and the prices at which the transactions were effected if requested by the SEC staff, the issuer, or a security holder of the issuer.
Notably, the disclosure also mentioned that Parker's remaining shares include 385 shares of common stock purchased under Marcus & Millichap's Employee Stock Purchase Plan. This indicates a continued investment in the company beyond the recent sale.
Marcus & Millichap, Inc., headquartered in Calabasas, is a leading firm specializing in commercial real estate brokerage. The company has been a significant player in the real estate agents and managers industry, providing investment sales, financing, research, and advisory services.
Investors often monitor the buying and selling activities of company insiders for insights into a company's financial health and future performance. Transactions such as these are publicly reported to ensure transparency and maintain fair markets.
InvestingPro Insights
Following the recent insider sale by John David Parker, Executive Vice President and COO of Marcus & Millichap, Inc. (NYSE:MMI), current metrics from InvestingPro provide a broader view of the company's financial health. As of the last twelve months leading up to Q1 2024, the firm holds a market capitalization of $1.31 billion. Despite a challenging period with revenue growth down by 45.45%, Marcus & Millichap maintains a gross profit margin of 37.43%, showcasing the company's ability to retain a significant portion of its sales as gross profit.
The company's adjusted P/E ratio stands at -34.48, reflecting investor sentiment about the company's earnings potential. Meanwhile, the PEG ratio, a metric that accounts for growth, is notably low at 0.22, which could suggest that the company's stock is undervalued relative to its earnings growth potential. Additionally, Marcus & Millichap offers a dividend yield of 1.44%, which might appeal to income-focused investors, especially considering the ex-date of the last dividend was on March 11, 2024.
For those seeking more comprehensive analyses, InvestingPro offers additional insights and metrics. With the InvestingPro product, users can access a total of 5 InvestingPro Tips that provide deeper analysis into Marcus & Millichap's financials and forecasts. These include evaluations of the company's earnings, valuation, and potential investment risks. Interested readers can use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to these valuable tools for making informed investment decisions.
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