MMI Marcus & Millichap, Inc. Common Stock
$32.43
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$24–$34
87% of range
Analyst Rating
SELL
9 analysts
Price Target
$28
P/E (TTM)
-648.6
ROE
-0.32%
Net Profit Margin
-0.25%
About Marcus & Millichap, Inc. Common Stock Company overview from Wikipedia
Marcus & Millichap, Inc. is an American company that provides real estate brokerage, mortgage brokerage, research, and advisory services in the U.S. and Canada in the field of commercial property. It popularized the practice of listing properties exclusively with one brokerage firm. The company has over 1,800 employees in more than 80 offices across the U.S. and Canada.
Read more
Marcus & Millichap, Inc. is an American company that provides real estate brokerage, mortgage brokerage, research, and advisory services in the U.S. and Canada in the field of commercial property. It popularized the practice of listing properties exclusively with one brokerage firm. The company has over 1,800 employees in more than 80 offices across the U.S. and Canada.
## History
The company was founded in Palo Alto in 1971 by George M. Marcus.
William Millichap was one of the first salespeople Marcus hired, and was made a partner in 1976. The company was incorporated in California on August 26, 1976 as G. M. Marcus & Company, and was renamed as Marcus & Millichap, Inc. in August 1978.
In 2013, it became a public company via an initial public offering.
In December 2015, Marcus & Millichap expanded its institutional property market in the areas of office and industrial with the creation of Institutional Property Advisors (IPA)
In May 2016, Hessam Nadji was named Chief Executive Officer.
In 2018, Marcus & Millichap expanded its Canadian presence with the acquisition of McGill Commercial. In the same year, Marcus & Millichap acquired Primecorp in Canada.
In 2019, Marcus & Millichap further expanded in Canada when it acquired Form Real Estate Advisors
In 2020, Marcus & Millichap expanded its Marcus & Millichap Capital Corp (MMCC) division with the acquisitions of Metropolitan Capital Advisors, Mission Capital Advisors and LMI Capital.
In March 2025, Marcus & Millichap's Institutional Property Advisors (IPA) Capital Markets division appointed Onorio Lucchese as senior managing director in its Toronto office to enhance cross-border capital-raising efforts and support the firm's strategic expansion within the Canadian market.
In June 2025, Marcus & Millichap brokered the $6.65 million sale of Ellery Apartments, a 14-unit property built in 1880 in Harvard Square, Cambridge, marking its first change in ownership in over forty years.
== References ==
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
MMI Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$32.43
Market Cap
$1.25B
P/E (TTM)
-648.6
EPS (TTM)
$-0.05
Revenue (TTM)
$755M
Div Yield
1.6%
ROE
-0.32%
Debt/Equity
—
52W Range
$24 – $34
MMI Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$755M
2016-12-31
→
2025-12-31
EPS
$-0.05
2016-12-31
→
2025-12-31
Free Cash Flow
$59M
2016-12-31
→
2025-12-31
Margins
-0.25%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
MMI
Peer Median
P/E (TTM)
-648.6
136.6
P/S (TTM)
1.7
1.0
P/B
2.1
3.4
Price / FCF
21.2
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
MMI
Peer Median
Operating Margin
-1.8%
—
Net Profit Margin
-0.25%
1.4%
ROA
-0.22%
0.91%
ROE
-0.32%
1.1%
ROIC
1.4%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
MMI
Peer Median
Current Ratio
2.5
1.6
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
MMI
Peer Median
Revenue YoY
8.5%
—
Revenue CAGR 3Y
-16.6%
—
Revenue CAGR 5Y
1.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
MMI
Peer Median
Payout Ratio
-1076.5%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
1.6%
Payout Ratio
-1076.5%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| March 13, 2026 | $0.2500 |
| Sept. 15, 2025 | $0.2500 |
| March 12, 2025 | $0.2500 |
| Sept. 16, 2024 | $0.2500 |
| March 11, 2024 | $0.2500 |
| Sept. 14, 2023 | $0.2500 |
| March 13, 2023 | $0.2500 |
| Sept. 14, 2022 | $0.2500 |
| March 7, 2022 | $1.2500 |
MMI Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
SELL
9 analysts
- Strong Buy 0 0.0%
- Buy 0 0.0%
- Hold 3 33.3%
- Sell 5 55.6%
- Strong Sell 1 11.1%
12-Month Price Target
1 analysts · 2026-08-14
Low
$28.00
High
$28.00
Median target
$28.00
-13.7%
Mean target
$28.00
-13.7%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.10 | $0.03 | 0.07% |
| March 31, 2026 | $-0.08 | $-0.08 | -0.00% |
| Dec. 31, 2025 | $0.34 | $0.24 | 0.10% |
| Sept. 30, 2025 | $0.01 | $0.00 | 0.01% |
| June 30, 2025 | $-0.28 | $-0.10 | -0.18% |
| March 31, 2025 | $-0.11 | $-0.16 | 0.05% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| MMI | $1.05B | -545.8 | 8.5% | -0.25% | -0.32% | — |
| Z | $16.40B | 758.0 | 15.5% | 0.89% | 0.48% | 74.1% |
| OPEN | — | — | — | — | — | — |
| NMRK | — | 25.5 | 20.3% | 3.8% | 9.5% | — |
| AGNT | — | — | — | — | — | — |
| RMAX | — | 7.3 | -5.2% | — | — | — |
| DOUG | $209M | 13.9 | 3.8% | 1.5% | 8.8% | — |
| FTHM | — | -1.4 | 25.4% | — | — | — |
| OPAD | — | -0.8 | -38.2% | -8.2% | -147.8% | 7.4% |
| CBRE | $47.55B | 41.8 | 13.4% | 2.9% | 13.4% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $755M | $696M | $646M | $1.30B | $1.30B | $717M | $806M | $815M | $720M | $717M | $689M | $572M | |
| Cost of Revenue | · | · | · | · | · | · | · | $503M | $447M | $445M | $423M | $350M | |
| SG&A Expense | $286M | $281M | $285M | $300M | $255M | $205M | $203M | $193M | $172M | $162M | $148M | $134M | |
| Operating Expenses | $769M | $729M | $705M | $1.16B | $1.11B | $663M | $710M | $703M | $624M | $611M | $574M | $488M | |
| Operating Income | $-14M | $-33M | $-59M | $137M | $189M | $54M | $96M | $112M | $96M | $107M | $115M | $85M | |
| Interest Expense | · | · | $888.0K | $708.0K | $580.0K | $900.0K | $1M | $1M | $1M | $2M | $2M | $2M | |
| Other Non-op | $18M | $21M | $20M | $5M | $5M | $7M | $12M | $6M | $5M | $2M | $443.0K | $28.0K | |
| Pretax Income | $3M | $-13M | $-40M | $142M | $193M | $59M | $108M | $117M | $99M | $107M | $113M | $83M | |
| Income Tax | $5M | $-666.0K | $-6M | $38M | $51M | $17M | $31M | $30M | $48M | $42M | $47M | $33M | |
| Net Income | $-2M | $-12M | $-34M | $104M | $142M | $43M | $77M | $87M | $52M | $65M | $66M | $50M | |
| EPS (Basic) | $-0.05 | $-0.32 | $-0.88 | $2.61 | $3.57 | $1.08 | $1.95 | $2.23 | $1.32 | $1.66 | $1.71 | $1.27 | |
| EPS (Diluted) | $-0.05 | $-0.32 | $-0.88 | $2.59 | $3.55 | $1.08 | $1.95 | $2.22 | $1.32 | $1.66 | $1.69 | $1.27 | |
| Shares (Basic) | 38,943,000 | 38,678,000 | 38,659,000 | 39,893,000 | 39,888,000 | 39,642,000 | 39,404,000 | 39,149,000 | 38,988,000 | 38,899,000 | 38,848,000 | 38,851,000 | |
| Shares (Diluted) | 38,943,000 | 38,678,000 | 38,659,000 | 40,186,000 | 40,187,000 | 39,735,000 | 39,548,000 | 39,383,000 | 39,100,000 | 39,035,000 | 39,162,000 | 38,978,000 | |
| EBITDA | $-14M | $-33M | · | $137M | $189M | $54M | $96M | $112M | $96M | $107M | $115M | $85M |
Balance Sheet 22
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | · | $236M | $382M | $243M | $233M | $215M | $221M | $187M | $96M | $149M | |
| Prepaid Expense | $25M | $9M | $9M | $9M | $13M | $10M | $11M | $8M | $10M | $8M | $8M | $8M | |
| Other Current Assets | $3M | $16M | $16M | $7M | $5M | $5M | $3M | $6M | $6M | $5M | $5M | $3M | |
| Current Assets | $309M | $410M | $394M | $527M | $608M | $429M | $410M | $371M | $320M | $234M | $196M | $165M | |
| PP&E (Net) | $24M | $26M | $27M | $28M | $23M | $23M | $23M | $20M | $17M | $16M | $12M | $8M | |
| Accum. Depreciation | $57M | $51M | $48M | $41M | $35M | $31M | $26M | $25M | $21M | $18M | $16M | $16M | |
| Goodwill | $38M | $38M | $38M | $38M | $34M | $33M | $15M | $11M | $0 | · | · | · | |
| Intangibles | $4M | $6M | $13M | $18M | $14M | $19M | $7M | $4M | $0 | $0 | · | · | |
| Other Non-current Assets | $27M | $24M | $15M | $16M | $13M | $4M | $4M | $32M | $23M | $10M | $9M | $3M | |
| Total Assets | $827M | $870M | $878M | $1.00B | $1.05B | $779M | $709M | $566M | $460M | $394M | $321M | $234M | |
| Accounts Payable | $11M | $14M | $8M | $11M | $15M | · | · | · | $9M | $10M | $9M | $10M | |
| Current Liabilities | $121M | $133M | $105M | $152M | $226M | $120M | $102M | $93M | $83M | $78M | $75M | $67M | |
| Capital Leases | $59M | $66M | $69M | $65M | $58M | $59M | $63M | $0 | · | · | · | · | |
| Other Non-current Liabilities | $8M | $7M | $11M | $9M | $11M | $14M | $4M | · | · | · | · | $2M | |
| Total Liabilities | $224M | $239M | $233M | $290M | $349M | $232M | $214M | $157M | $145M | $135M | $132M | $117M | |
| Common Stock | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | |
| Paid-in Capital | · | · | · | · | · | · | · | · | · | · | · | $75M | |
| Retained Earnings | $410M | $459M | $492M | $586M | $574M | $431M | $388M | $311M | $224M | $173M | $108M | $42M | |
| AOCI | $401.0K | $-1M | $-768.0K | $-4M | $910.0K | $3M | $2M | $775.0K | $940.0K | $810.0K | $457.0K | $159.0K | |
| Stockholders' Equity | $603M | $631M | $645M | $714M | $696M | $547M | $495M | $410M | $315M | $259M | $189M | $117M | |
| Liabilities + Equity | $827M | $870M | $878M | $1.00B | $1.05B | $779M | $709M | $566M | $460M | $394M | $321M | $234M | |
| Shares Outstanding | 38,422,993 | 38,856,790 | 38,412,484 | 39,255,838 | 39,692,373 | 39,401,976 | 39,153,195 | 38,814,464 | 38,374,011 | 37,882,266 | 37,396,456 | 36,918,442 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $12M | $17M | $14M | $13M | $12M | $11M | $8M | $6M | $5M | $4M | $3M | $3M | |
| Stock-based Comp | $24M | $24M | $24M | $17M | $10M | $10M | $9M | $12M | $9M | $7M | $7M | $5M | |
| Deferred Tax | $3M | $-1M | $-6M | $-6M | $-12M | $473.0K | $226.0K | $-142.0K | $13M | $-483.0K | $65.0K | $877.0K | |
| Amort. of Intangibles | $2M | $7M | $5M | $5M | $4M | $4M | · | $314.0K | $0 | · | · | · | |
| Operating Cash Flow | $67M | $22M | $-72M | $14M | $256M | $38M | $25M | $117M | $67M | $74M | $72M | $71M | |
| CapEx | $8M | $8M | $9M | $12M | $7M | $7M | $9M | $8M | $7M | $9M | $7M | $3M | |
| Investing Cash Flow | $-4M | $-10M | $75M | $-54M | $-108M | $-17M | $-3M | $-118M | $-27M | $20M | · | · | |
| Stock Repurchased | $25M | $785.0K | $39M | $29M | $0 | $0 | · | · | · | · | · | · | |
| Net Stock Activity | $-25M | $-785.0K | · | $-29M | · | · | · | · | · | · | · | · | |
| Dividends Paid | $21M | $20M | $20M | $60M | $0 | $0 | · | · | · | · | · | · | |
| Financing Cash Flow | $-55M | $-29M | $-68M | $-106M | $-6M | $-10M | $-4M | $-5M | $-6M | $-3M | · | · | |
| Net Change in Cash | $8M | $-17M | $-65M | $-146M | $139M | $10M | $18M | $-6M | $33M | $91M | $-53M | $48M | |
| Taxes Paid | $-2M | $468.0K | $674.0K | $70M | $49M | $7M | $40M | $24M | $35M | $37M | $43M | $36M | |
| Free Cash Flow | $59M | $14M | · | $2M | $249M | $31M | $16M | $109M | $60M | $65M | $65M | $69M | |
| Levered FCF | · | · | · | $1M | $249M | $30M | $15M | $108M | $59M | $64M | $64M | $68M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -1.8% | -4.7% | · | 10.6% | 14.6% | 7.5% | · | · | 13.4% | 14.8% | 16.6% | 14.8% | |
| Net Margin | -0.25% | -1.8% | · | 8.0% | 11.0% | 6.0% | · | · | 7.2% | 9.0% | 9.6% | 8.7% | |
| Pretax Margin | 0.40% | -1.9% | · | 10.9% | 14.9% | 8.3% | · | · | 13.8% | 14.9% | 16.4% | 14.5% | |
| EBITDA Margin | -1.8% | -4.7% | · | 10.6% | 14.6% | 7.5% | · | · | 13.4% | 14.8% | 16.6% | 14.8% | |
| ROA | -0.22% | -1.4% | · | 10.2% | 15.6% | 5.8% | 12.1% | 17.0% | 12.1% | 18.1% | 23.9% | 24.7% | |
| ROE | -0.32% | -2.0% | · | 14.5% | 21.4% | 8.0% | 15.9% | 22.0% | 18.0% | 28.9% | 43.4% | 55.2% | |
| ROIC | 1.4% | -5.0% | · | 14.1% | 20.0% | 7.1% | 13.9% | 20.4% | 15.8% | 24.8% | 35.5% | 43.2% |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.5 | 3.1 | · | 3.5 | 2.7 | 3.6 | 4.0 | 4.0 | 3.8 | 3.0 | 2.6 | 2.7 | |
| Quick Ratio | · | · | · | 1.6 | 1.7 | 2.0 | 2.3 | 2.3 | 2.7 | 2.4 | 1.3 | 2.2 | |
| Interest Coverage | · | · | · | 194.1 | 326.5 | 59.6 | 69.5 | 80.2 | 64.3 | 69.5 | 66.4 | 51.2 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.9 | 0.8 | · | 1.3 | 1.4 | 1.0 | · | · | 1.7 | 2.0 | 2.5 | 2.9 |
Growth Rates 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 8.5% | 7.8% | -50.4% | 0.41% | 80.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -16.6% | -18.7% | -3.4% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 1.1% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | · | · | -27.0% | 228.7% | · | · | · | · | · | · | · | |
| Net Income YoY | · | · | · | -26.8% | 232.6% | · | · | · | · | · | · | · |
Valuation (TTM) 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $755M | $696M | $646M | $1.30B | $1.30B | $717M | $806M | $815M | $720M | $717M | $689M | $572M | |
| Net Income TTM | $-2M | $-12M | $-34M | $104M | $142M | $43M | $77M | $87M | $52M | $65M | $66M | $50M | |
| Market Cap | $1.05B | $1.49B | · | $1.35B | $2.04B | $1.47B | $1.46B | $1.33B | $1.25B | $1.01B | $1.09B | $1.23B | |
| P/E | -545.8 | -119.6 | -49.6 | 13.3 | 14.5 | 34.5 | 19.1 | 15.5 | 24.7 | 16.1 | 17.2 | 26.2 | |
| P/S | 1.4 | 2.1 | · | 1.0 | 1.6 | 2.0 | 1.8 | 1.6 | 1.7 | 1.4 | 1.6 | 2.1 | |
| P/B | 1.7 | 2.4 | · | 1.9 | 2.9 | 2.7 | 2.9 | 3.3 | 4.0 | 3.9 | 5.8 | 10.5 | |
| P / Tangible Book | 1.9 | 2.5 | 2.8 | 2.1 | 3.2 | 3.0 | · | · | · | · | · | · | |
| P / Cash Flow | 15.7 | 68.5 | · | 99.2 | 8.0 | 38.5 | 57.7 | 11.4 | 18.8 | 13.6 | 15.1 | 17.2 | |
| P / FCF | 17.8 | 107.4 | · | 688.9 | 8.2 | 47.1 | 88.5 | 12.2 | 20.9 | 15.6 | 16.7 | 17.8 | |
| Dividend Yield | 2.0% | 1.4% | · | 4.5% | 0.00% | 0.00% | · | · | · | · | · | · | |
| Earnings Yield | -0.18% | -0.84% | -2.0% | 7.5% | 6.9% | 2.9% | 5.2% | 6.5% | 4.0% | 6.2% | 5.8% | 3.8% | |
| Payout Ratio | -1076.5% | -163.6% | · | 57.9% | · | · | · | · | · | · | · | · | |
| Annual Payout | $21M | $20M | $20M | $60M | $0 | $0 | · | · | · | · | · | · |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $203M | $171M | $244M | $194M | $172M | $145M | $240M | $169M | $158M | $129M | $166M | $162M | $163M | $155M | $262M | $324M | |
| SG&A Expense | $72M | $71M | $71M | $73M | $72M | $72M | $76M | $71M | $65M | $69M | $75M | $69M | $69M | $72M | $73M | $73M | |
| Operating Expenses | $201M | $177M | $229M | $196M | $181M | $163M | $233M | $180M | $166M | $149M | $183M | $177M | $174M | $171M | $257M | $293M | |
| Operating Income | $2M | $-6M | $15M | $-2M | $-9M | $-18M | $7M | $-11M | $-8M | $-20M | $-17M | $-15M | $-11M | $-16M | $6M | $31M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $199.0K | · | $241.0K | $216.0K | $215.0K | · | $229.0K | |
| Other Non-op | $4M | $4M | $4M | $4M | $5M | $4M | $5M | $5M | $5M | $6M | $6M | $4M | $5M | $5M | $4M | $978.0K | |
| Pretax Income | $6M | $-2M | $19M | $1M | $-4M | $-14M | $11M | $-6M | $-3M | $-15M | $-12M | $-11M | $-6M | $-11M | $10M | $31M | |
| Income Tax | $2M | $934.0K | $6M | $1M | $7M | $-9M | $3M | $-967.0K | $2M | $-5M | $-1M | $-2M | $3M | $-6M | $2M | $10M | |
| Net Income | $4M | $-3M | $13M | $240.0K | $-11M | $-4M | $9M | $-5M | $-6M | $-10M | $-10M | $-9M | $-9M | $-6M | $8M | $21M | |
| EPS (Basic) | $0.10 | $-0.08 | $0.33 | $0.01 | $-0.28 | $-0.11 | $0.22 | $-0.14 | $-0.14 | $-0.26 | $-0.26 | $-0.24 | $-0.23 | $-0.15 | $0.21 | $0.53 | |
| EPS (Diluted) | $0.10 | $-0.08 | $0.33 | $0.01 | $-0.28 | $-0.11 | $0.22 | $-0.14 | $-0.14 | $-0.26 | $-0.26 | $-0.24 | $-0.23 | $-0.15 | $0.21 | $0.53 | |
| Shares (Basic) | 37,827,000 | 38,201,000 | -78,004,000 | 39,013,000 | 39,004,000 | 38,930,000 | -77,206,000 | 38,762,000 | 38,675,000 | 38,447,000 | -77,571,000 | 38,492,000 | 38,538,000 | 39,200,000 | -80,230,000 | 40,086,000 | |
| Shares (Diluted) | 38,019,000 | 38,201,000 | -78,166,000 | 39,175,000 | 39,004,000 | 38,930,000 | -77,206,000 | 38,762,000 | 38,675,000 | 38,447,000 | -77,571,000 | 38,492,000 | 38,538,000 | 39,200,000 | -80,932,000 | 40,302,000 | |
| EBITDA | · | $-6M | · | $-2M | $-9M | $-18M | · | $-11M | $-8M | $-20M | · | $-15M | $-11M | $-16M | · | $31M |
Balance Sheet 21
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $271M | |
| Prepaid Expense | $28M | $10M | $10M | $9M | $8M | $7M | $9M | $8M | $8M | $8M | · | $6M | $9M | $9M | · | $9M | |
| Other Current Assets | $3M | $14M | $14M | $17M | $15M | $14M | $16M | $11M | $18M | $16M | · | $15M | $6M | $5M | · | $6M | |
| Current Assets | $271M | $245M | $309M | $310M | $302M | $325M | $410M | $357M | $344M | $344M | · | $390M | $382M | $405M | · | $516M | |
| PP&E (Net) | $23M | $24M | $24M | $24M | $24M | $25M | $26M | $27M | $27M | $28M | · | $28M | $28M | $28M | · | $27M | |
| Accum. Depreciation | $61M | $59M | $57M | $57M | $55M | $53M | $51M | $55M | $53M | $51M | · | $48M | $45M | $43M | · | $40M | |
| Goodwill | $38M | $38M | $38M | $38M | $38M | $38M | $38M | $38M | $38M | $38M | $38M | $38M | $38M | $38M | $38M | $38M | |
| Intangibles | $3M | $3M | $4M | $4M | $5M | $5M | $6M | $9M | $11M | $12M | · | $14M | $15M | $17M | · | $19M | |
| Other Non-current Assets | $29M | $28M | $27M | $25M | $25M | $24M | $24M | $26M | $15M | $16M | · | $10M | $18M | $17M | · | $15M | |
| Total Assets | $766M | $755M | $827M | $812M | $792M | $802M | $870M | $834M | $825M | $827M | · | $882M | $884M | $910M | · | $1000M | |
| Accounts Payable | $10M | $11M | $11M | $15M | $11M | $10M | $14M | $13M | $10M | $9M | · | $9M | $12M | $12M | · | $10M | |
| Current Liabilities | $93M | $93M | $121M | $113M | $87M | $86M | $133M | $113M | $93M | $93M | · | $103M | $89M | $103M | · | $147M | |
| Capital Leases | $57M | $57M | $59M | $59M | $64M | $65M | $66M | $67M | $71M | $74M | · | $74M | $79M | $83M | · | $63M | |
| Other Non-current Liabilities | $7M | $7M | $8M | $8M | $7M | $7M | $7M | $7M | $7M | $7M | · | $10M | $11M | $8M | · | $11M | |
| Total Liabilities | $187M | $186M | $224M | $210M | $184M | $184M | $239M | $216M | $199M | $201M | · | $233M | $220M | $228M | · | $276M | |
| Common Stock | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | · | $4.0K | $4.0K | $4.0K | · | $4.0K | |
| Retained Earnings | $377M | $373M | $410M | $415M | $426M | $444M | $459M | $451M | $466M | $472M | · | $507M | $526M | $552M | · | $600M | |
| AOCI | $-1M | $-517.0K | $401.0K | $171.0K | $325.0K | $-1M | $-1M | $135.0K | $-1M | $-1M | · | $-3M | $-3M | $-2M | · | $-4M | |
| Stockholders' Equity | $579M | $569M | $603M | $602M | $608M | $618M | $631M | $618M | $627M | $626M | $645M | $649M | $664M | $682M | $714M | $724M | |
| Liabilities + Equity | $766M | $755M | $827M | $812M | $792M | $802M | $870M | $834M | $825M | $827M | · | $882M | $884M | $910M | · | $1000M | |
| Shares Outstanding | 37,871,003 | 37,821,936 | 38,422,993 | 39,061,075 | 38,996,974 | 39,138,040 | 38,856,790 | 38,823,704 | 38,729,323 | 38,633,603 | · | 38,546,059 | 38,460,595 | 38,876,354 | · | 39,797,423 |
Cash Flow 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2M | $2M | $3M | $3M | $3M | $3M | $5M | $5M | $3M | $3M | $3M | $4M | $3M | $3M | $3M | $3M | |
| Stock-based Comp | $7M | $7M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $8M | $5M | $5M | $5M | $5M | $5M | |
| Deferred Tax | $923.0K | $817.0K | $4M | $1M | $7M | $-9M | $2M | $-967.0K | $2M | $-5M | $-2M | $-10M | $2M | $4M | $-4M | $-2M | |
| Amort. of Intangibles | $300.0K | $400.0K | $400.0K | $600.0K | $500.0K | $600.0K | $3M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Operating Cash Flow | $22M | $-28M | $46M | $52M | $21M | $-53M | $57M | $15M | $851.0K | $-51M | $15M | $8M | $6M | $-101M | $25M | $40M | |
| CapEx | $945.0K | $3M | $2M | $2M | $2M | $1M | $2M | $2M | $2M | $3M | $2M | $2M | $3M | $3M | $3M | $4M | |
| Investing Cash Flow | $5M | $34M | $25M | $-19M | $-67M | $57M | $-65M | $-3M | $80M | $-22M | $-54M | $46M | $-35M | $117M | $-23M | $25M | |
| Stock Repurchased | $545.0K | $25M | $17M | $577.0K | $7M | $425.0K | $231.0K | $0 | $0 | $554.0K | $5M | $0 | $18M | $17M | $23M | $6M | |
| Net Stock Activity | · | $-25M | · | · | · | $-425.0K | · | · | · | $-554.0K | · | · | · | $-17M | · | · | |
| Dividends Paid | $10M | $775.0K | $10M | $178.0K | $10M | $697.0K | $10M | $150.0K | $10M | $592.0K | $10M | $112.0K | $10M | $441.0K | $10M | $79.0K | |
| Financing Cash Flow | $-10M | $-32M | $-27M | $-2M | $-18M | $-8M | $-10M | $-1M | $-10M | $-8M | $-14M | $-946.0K | $-28M | $-24M | $-38M | $-6M | |
| Net Change in Cash | $17M | $-25M | $45M | $31M | $-64M | $-4M | $-19M | $11M | $71M | $-80M | $-53M | $53M | $-57M | $-8M | $-35M | $59M | |
| Taxes Paid | · | · | $-3M | $7.0K | $359.0K | $21.0K | · | $19.0K | $263.0K | $162.0K | · | $8.0K | $505.0K | $209.0K | $11M | $19M | |
| Free Cash Flow | · | $-31M | · | · | · | $-54M | · | · | · | $-54M | · | · | · | $-104M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-54M | · | · | · | $-104M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | -3.4% | · | -1.2% | -5.2% | -12.2% | · | -6.8% | -5.1% | -15.6% | · | -9.5% | -6.6% | -10.4% | · | 9.4% | |
| Net Margin | · | -1.8% | · | 0.12% | -6.4% | -3.0% | · | -3.2% | -3.5% | -7.7% | · | -5.7% | -5.4% | -3.8% | · | 6.6% | |
| Pretax Margin | · | -1.3% | · | 0.76% | -2.2% | -9.6% | · | -3.8% | -2.2% | -11.4% | · | -6.9% | -3.7% | -7.4% | · | 9.7% | |
| EBITDA Margin | · | -3.4% | · | -1.2% | -5.2% | -12.2% | · | -6.8% | -5.1% | -15.6% | · | -9.5% | -6.6% | -10.4% | · | 9.4% | |
| ROA | · | -0.40% | · | 0.03% | -1.4% | -0.54% | · | -0.63% | -0.65% | -1.1% | · | -0.98% | -0.94% | -0.62% | · | 2.3% | |
| ROE | · | -0.52% | · | 0.04% | -1.8% | -0.71% | · | -0.85% | -0.86% | -1.5% | · | -1.4% | -1.3% | -0.86% | · | 3.1% | |
| ROIC | · | -1.5% | · | -0.06% | -4.4% | -0.91% | · | -1.6% | -2.1% | -2.2% | · | -1.9% | -2.3% | -1.2% | · | 2.9% |
Liquidity & Solvency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | 2.6 | · | 2.7 | 3.5 | 3.8 | · | 3.1 | 3.7 | 3.7 | · | 3.8 | 4.3 | 3.9 | · | 3.5 | |
| Quick Ratio | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 1.8 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -101.0 | · | -64.0 | -49.4 | -74.7 | · | 133.4 |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.1 | · | 0.2 | 0.2 | 0.2 | · | 0.3 |
Valuation (TTM) 11
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $741M | $683M | · | $680M | $644M | $601M | · | $618M | $612M | $609M | · | $804M | $1.04B | $1.19B | · | $1.37B | |
| Net Income TTM | $-10M | $-18M | · | $-21M | $-26M | $-25M | · | $-30M | $-33M | $-34M | · | $-2M | $49M | $90M | · | $130M | |
| Market Cap | · | $1.01B | · | $1.15B | $1.20B | $1.35B | · | $1.54B | $1.22B | $1.32B | · | $1.13B | $1.21B | $1.25B | · | $1.30B | |
| P/E | -124.7 | -57.8 | · | -56.4 | -45.8 | -53.0 | · | -50.8 | -36.2 | -38.8 | · | -326.0 | 26.5 | 14.4 | · | 10.2 | |
| P/S | · | 1.5 | · | 1.7 | 1.9 | 2.2 | · | 2.5 | 2.0 | 2.2 | · | 1.4 | 1.2 | 1.0 | · | 1.0 | |
| P/B | · | 1.8 | · | 1.9 | 2.0 | 2.2 | · | 2.5 | 1.9 | 2.1 | · | 1.7 | 1.8 | 1.8 | · | 1.8 | |
| P / Tangible Book | 2.2 | 1.9 | · | 2.0 | 2.1 | 2.3 | · | 2.7 | 2.1 | 2.3 | · | 1.9 | 2.0 | 2.0 | · | 2.0 | |
| P / Cash Flow | · | -36.5 | · | · | · | -25.5 | · | · | · | -25.9 | · | · | · | -12.3 | · | · | |
| P / FCF | · | -32.9 | · | · | · | -24.8 | · | · | · | -24.6 | · | · | · | -12.0 | · | · | |
| Earnings Yield | -0.80% | -1.7% | · | -1.8% | -2.2% | -1.9% | · | -2.0% | -2.8% | -2.6% | · | -0.31% | 3.8% | 6.9% | · | 9.8% | |
| Payout Ratio | · | -25.0% | · | · | · | -15.8% | · | · | · | -5.9% | · | · | · | -7.6% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $755M | $696M | $646M | $1.30B | $1.30B |
| Operating Margin % | -1.8% | -4.7% | — | 10.6% | 14.6% |
| Net Income | $-2M | $-12M | $-34M | $104M | $142M |
| Diluted EPS | $-0.05 | $-0.32 | $-0.88 | $2.59 | $3.55 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 2.5 | 3.1 | — | 3.5 | 2.7 |
| Quick Ratio | — | — | — | 1.6 | 1.7 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $59M | $14M | — | $2M | $249M |
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Institutional owners (13F) 199 filers · $543.4M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 41 (+11 vs prior Q) | 17 (-28 vs prior Q) | 64 (0 vs prior Q) | 51 (-1 vs prior Q) | +4.7M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $77,658,995 | 2,491,466 | 14.29% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $71,310,761 | 2,284,869 | 13.12% | Shares |
| PZENA INVESTMENT MANAGEMENT LLC | $66,735,001 | 2,141,001 | 12.28% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $44,764,671 | 1,436,146 | 8.24% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $31,812,164 | 1,020,602 | 5.85% | Shares |
| STATE STREET CORP | $29,592,424 | 949,388 | 5.45% | Shares |
| Tributary Capital Management, LLC | $23,085,468 | 740,631 | 4.25% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $17,729,619 | 568,707 | 3.26% | Shares |
| TWO SIGMA INVESTMENTS, LP | $17,177,693 | 551,097 | 3.16% | Shares |
| ROYCE & ASSOCIATES LP | $14,650,492 | 470,019 | 2.70% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $14,552,812 | 466,885 | 2.68% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $12,613,782 | 404,677 | 2.32% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $8,501,524 | 272,747 | 1.56% | Shares |
| DEPRINCE RACE & ZOLLO INC | $6,838,204 | 257,172 | 1.26% | Shares |
| SPROTT INC. | $6,545,700 | 210,000 | 1.20% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $6,239,392 | 200,173 | 1.15% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $5,576,294 | 178,899 | 1.03% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $4,812,804 | 154,405 | 0.89% | Shares |
| Qube Research & Technologies Ltd | $4,003,444 | 128,439 | 0.74% | Shares |
| BANK OF AMERICA CORP /DE/ | $3,476,266 | 111,526 | 0.64% | Shares |
| Bank of New York Mellon Corp | $3,117,717 | 100,023 | 0.57% | Shares |
| Mariner, LLC | $2,920,349 | 93,691 | 0.54% | Shares |
| Quantinno Capital Management LP | $2,668,007 | 85,595 | 0.49% | Shares |
| ExodusPoint Capital Management, LP | $2,605,064 | 83,576 | 0.48% | Shares |
| D. E. Shaw & Co., Inc. | $2,559,244 | 82,106 | 0.47% | Shares |
| Public Sector Pension Investment Board | $2,509,279 | 80,503 | 0.46% | Shares |
| WINTON GROUP Ltd | $2,485,808 | 79,750 | 0.46% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $2,185,453 | 70,114 | 0.40% | Shares |
| GOLDMAN SACHS GROUP INC | $2,096,401 | 67,257 | 0.39% | Shares |
| AMERICAN CENTURY COMPANIES INC | $2,068,722 | 66,369 | 0.38% | Shares |
| XTX Topco Ltd | $1,905,017 | 61,117 | 0.35% | Shares |
| RHUMBLINE ADVISERS | $1,897,301 | 60,870 | 0.35% | Shares |
| TWO SIGMA ADVISERS, LP | $1,896,655 | 69,500 | 0.35% | Shares |
| DEUTSCHE BANK AG\ | $1,842,957 | 59,126 | 0.34% | Shares |
| Trexquant Investment LP | $1,785,262 | 57,275 | 0.33% | Shares |
| IEQ CAPITAL, LLC | $1,704,718 | 54,691 | 0.31% | Shares |
| AMERIPRISE FINANCIAL INC | $1,690,786 | 54,244 | 0.31% | Shares |
| Swiss National Bank | $1,427,586 | 45,800 | 0.26% | Shares |
| State of New Jersey Common Pension Fund D | $1,286,261 | 41,266 | 0.24% | Shares |
| AlphaQuest LLC | $1,276,190 | 46,764 | 0.23% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1,222,955 | 39,235 | 0.23% | Shares |
| BARCLAYS PLC | $1,213,511 | 38,932 | 0.22% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,201,822 | 38,557 | 0.22% | Shares |
| Legal & General Group Plc | $1,120,063 | 35,934 | 0.21% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $1,075,447 | 34,239 | 0.20% | Shares |
| LPL Financial LLC | $969,403 | 31,101 | 0.18% | Shares |
| FMR LLC | $864,438 | 27,733 | 0.16% | Shares |
| ALLIANCEBERNSTEIN L.P. | $821,684 | 30,902 | 0.15% | Shares |
| FIRST NATIONAL BANK OF OMAHA | $771,052 | 24,737 | 0.14% | Shares |
| PRUDENTIAL FINANCIAL INC | $758,678 | 24,340 | 0.14% | Shares |
| Verdad Advisers, LP | $684,867 | 21,972 | 0.13% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $664,981 | 21,334 | 0.12% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $662,516 | 24,916 | 0.12% | Shares |
| BlackRock, Inc. | $659,713 | 21,165 | 0.12% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $637,520 | 20,453 | 0.12% | Shares |
| WELLS FARGO & COMPANY/MN | $625,364 | 20,063 | 0.12% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $581,077 | 18,642 | 0.11% | Shares |
| Cubist Systematic Strategies, LLC | $544,987 | 18,569 | 0.10% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $525,246 | 16,851 | 0.10% | Shares |
| Russell Investments Group, Ltd. | $522,073 | 16,749 | 0.10% | Shares |
| Aigen Investment Management, LP | $519,822 | 16,677 | 0.10% | Shares |
| Inspire Investing, LLC | $511,698 | 19,244 | 0.09% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $490,803 | 15,746 | 0.09% | Shares |
| VARCOV Co. | $478,210 | 15,342 | 0.09% | Shares |
| Engineers Gate Manager LP | $466,927 | 14,980 | 0.09% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $457,163 | 14,901 | 0.08% | Shares |
| MetLife Investment Management, LLC | $438,281 | 14,061 | 0.08% | Shares |
| Campbell & CO Investment Adviser LLC | $437,876 | 14,048 | 0.08% | Shares |
| ALLSTATE CORP | $418,520 | 13,427 | 0.08% | Shares |
| Brevan Howard Capital Management LP | $370,954 | 11,901 | 0.07% | Shares |
| Illinois Municipal Retirement Fund | $368,180 | 11,812 | 0.07% | Shares |
| JANE STREET GROUP, LLC | $367,806 | 11,800 | 0.07% | Call option |
| Susquehanna Portfolio Strategies, LLC | $358,299 | 11,495 | 0.07% | Shares |
| FIFTH THIRD BANCORP | $346,642 | 11,121 | 0.06% | Shares |
| DARK FOREST CAPITAL MANAGEMENT LP | $346,423 | 11,114 | 0.06% | Shares |
| Squarepoint Ops LLC | $345,644 | 11,089 | 0.06% | Shares |
| RBF Capital, LLC | $342,870 | 11,000 | 0.06% | Shares |
| Diametric Capital, LP | $340,750 | 10,932 | 0.06% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $334,361 | 10,727 | 0.06% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $331,025 | 10,620 | 0.06% | Shares |
| Louisiana State Employees Retirement System | $321,051 | 10,300 | 0.06% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $317,934 | 10,200 | 0.06% | Shares |
| MIRABELLA FINANCIAL SERVICES LLP | $316,407 | 10,151 | 0.06% | Shares |
| CITIGROUP INC | $316,220 | 10,145 | 0.06% | Shares |
| PITCAIRN CO | $309,613 | 10,549 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $305,684 | 9,807 | 0.06% | Shares |
| JANUS HENDERSON GROUP PLC | $289,462 | 10,880 | 0.05% | Shares |
| Invesco Ltd. | $285,517 | 9,160 | 0.05% | Shares |
| NEUBERGER BERMAN GROUP LLC | $283,928 | 9,109 | 0.05% | Shares |
| COMERICA BANK | $281,223 | 10,305 | 0.05% | Shares |
| Hofer & Associates. Inc | $260,082 | 8,344 | 0.05% | Shares |
| US BANCORP \DE\ | $259,210 | 8,316 | 0.05% | Shares |
| Linden Thomas Advisory Services, LLC | $254,223 | 8,156 | 0.05% | Shares |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $252,321 | 8,095 | 0.05% | Shares |
| JPMORGAN CHASE & CO | $252,302 | 7,041 | 0.05% | Shares |
| Pathstone Holdings, LLC | $250,420 | 8,034 | 0.05% | Shares |
| CWM, LLC | $242,394 | 9,116 | 0.04% | Shares |
| MORGAN STANLEY | $241,073 | 7,734 | 0.04% | Shares |
| EVERGREEN CAPITAL MANAGEMENT LLC | $239,043 | 7,669 | 0.04% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $236,050 | 7,573 | 0.04% | Shares |
Company insiders 22 insiders · 10 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Hessam Nadji | Chief Executive Officer | Aug. 14, 2026 G | 299,982 | 0 | 1 | $-15,190 |
| John J. Kerin | President and CEO | Nov. 5, 2015 M | 44,046 | 0 | 0 | $0 |
| Richard D. Matricaria | EVP & COO - Western Division | March 10, 2025 M | 19,677 | 0 | 0 | $0 |
| Mitchell R Labar | Executive VP and COO | June 10, 2019 S | 0 | 0 | 0 | $0 |
| Fabrice De Bosschere | Chief Accounting Officer | Feb. 10, 2026 A | — | 0 | 0 | $0 |
| Gregory A. Laberge | SVP & Chief Client Officer | Feb. 10, 2026 A | 6,766 | 0 | 0 | $0 |
| Kurt Henry Schwarz | Chief Accounting Officer | March 10, 2025 M | 1,341 | 0 | 0 | $0 |
| Martin E. Louie | SVP/Corporate Initiatives | March 10, 2021 M | 71,547 | 0 | 0 | $0 |
| William E. Hughes | SVP Marcus & Millichap Capital | May 22, 2018 S | 91,662 | 0 | 0 | $0 |
| Gene A. Berman | Executive Vice President | May 12, 2016 S | 486,407 | 0 | 0 | $0 |
| George T Shaheen | Director | April 30, 2026 A | 27,439 | 0 | 0 | $0 |
| George M Marcus | Director | April 30, 2026 A | 36,239 | 0 | 0 | $0 |
| Lauralee Martin | Director | Aug. 11, 2025 P | 17,728 | 1 | 0 | $49,907 |
| Dixon Collete English | Director | May 1, 2025 A | 9,724 | 0 | 0 | $0 |
| Norma J. Lawrence | Director | May 1, 2025 A | 4,774 | 0 | 0 | $0 |
| Don C. Watters | Director | May 1, 2025 A | 13,204 | 0 | 0 | $0 |
| Nicholas F. Mcclanahan | Director | May 1, 2025 A | 4,774 | 0 | 0 | $0 |
| William A Millichap | Director | May 5, 2020 A | 5,324 | 0 | 0 | $0 |
| Phoenix Investments Holdings LLC | 10% owner | July 16, 2021 J | 14,128,075 | 0 | 0 | $0 |
| Marcus & Millichap Co | 10% owner | Nov. 5, 2013 J | 0 | 0 | 0 | $0 |
| John David Parker | — | Aug. 10, 2026 M | 43,310 | 0 | 0 | $0 |
| Steven F. Degennaro | — | Aug. 10, 2026 M | 42,709 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Phoenix Investments Holdings LLC, Ionian Investments Manager LLC, George M. Marcus ×10 filings | April 20, 2021 | — | Initial filing | — | SEC |
| George M. Marcus, Ionian Investments Manager LLC, Phoenix Investments Holdings LLC ×5 filings | Dec. 13, 2016 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 55 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| ESSC · Strategy Shares | 0.50% | 4,616 NS | April 30, 2026 | N-PORT |
| PSCF · Invesco Exchange-Traded Fund Trust … | 0.16% | 1,373 SH | Aug. 8, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.08% | 49,740 SH | Aug. 8, 2026 | Daily |
| IJS · iShares Trust | 0.08% | 207,571 SH | Aug. 8, 2026 | Daily |
| CALF · Pacer Funds Trust | 0.07% | 89,798 NS | April 30, 2026 | N-PORT |
| FREL · FIDELITY COVINGTON TRUST | 0.06% | 28,587 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.05% | 52,981 NS | May 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.05% | 20,127 SH | Aug. 8, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.05% | 33,077 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.05% | 227,007 SH | Aug. 8, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.05% | 132,281 NS | April 30, 2026 | N-PORT |
| JSTC · Tidal Trust I | 0.05% | 5,764 NS | May 31, 2026 | N-PORT |
| XJR · iShares Trust | 0.05% | 2,748 SH | Aug. 8, 2026 | Daily |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.04% | 3,536 SH | Aug. 8, 2026 | Daily |
| IJR · iShares Trust | 0.04% | 1,431,540 SH | Aug. 8, 2026 | Daily |
| VNQ · VANGUARD SPECIALIZED FUNDS | 0.04% | 868,711 SH | Aug. 8, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.04% | 81,718 SH | Aug. 8, 2026 | Daily |
| FNDA · SCHWAB STRATEGIC TRUST | 0.04% | 126,293 NS | May 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.03% | 8,975 NS | April 30, 2026 | N-PORT |
| SAA · ProShares Trust | 0.03% | 286 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.03% | 27,205 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.03% | 131,455 NS | April 30, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.03% | 123,796 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.02% | 580,260 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.02% | 7,769 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.02% | 10,388 NS | April 30, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.02% | 329,736 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 132,527 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.02% | 1,130 NS | May 31, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.02% | 1,370 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 114,571 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.01% | 1,069 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.01% | 2,530 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.01% | 3,398 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 272,294 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.01% | 520,072 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.01% | 883 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.01% | 1,318 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 1,892 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.01% | 894 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.01% | 89,499 NS | April 30, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.00% | 803 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 3,524 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,232 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 4,387 NS | April 30, 2026 | N-PORT |
| FNDB · SCHWAB STRATEGIC TRUST | 0.00% | 1,578 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 22 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 11,280 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 9,089 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 8,303 NS | April 30, 2026 | N-PORT |