Emerald Mutual Fund Advisers Trust Cuts Position in Marcus & Millichap Inc. (MMI)
Emerald Mutual Fund Advisers Trust reduced its position in Marcus & Millichap Inc. (NYSE:MMI) by 12.5% during the second quarter, Holdings Channel reports. The firm owned 242,003 shares of the real estate investment trust’s stock after selling 34,511 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Marcus & Millichap were worth $6,149,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in MMI. Bank of Montreal Can bought a new stake in Marcus & Millichap during the second quarter worth approximately $122,000. Strs Ohio boosted its stake in shares of Marcus & Millichap by 1.6% in the second quarter. Strs Ohio now owns 25,900 shares of the real estate investment trust’s stock valued at $658,000 after buying an additional 400 shares during the last quarter. Prescott Group Capital Management L.L.C. boosted its stake in shares of Marcus & Millichap by 48.3% in the second quarter. Prescott Group Capital Management L.L.C. now owns 33,761 shares of the real estate investment trust’s stock valued at $858,000 after buying an additional 11,000 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Marcus & Millichap during the first quarter valued at approximately $1,252,000. Finally, BlackRock Inc. boosted its stake in shares of Marcus & Millichap by 7.8% in the first quarter. BlackRock Inc. now owns 66,131 shares of the real estate investment trust’s stock valued at $1,679,000 after buying an additional 4,791 shares during the last quarter. Institutional investors own 35.28% of the company’s stock.
Marcus & Millichap Inc. (NYSE:MMI) traded down 1.68% during trading on Friday, hitting $25.17. 91,219 shares of the stock traded hands. The stock has a market cap of $946.57 million, a P/E ratio of 14.63 and a beta of 1.46. The firm’s 50-day moving average is $25.81 and its 200-day moving average is $25.79. Marcus & Millichap Inc. has a 12 month low of $18.77 and a 12 month high of $49.97.
Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.06. The company had revenue of $183.38 million for the quarter, compared to analyst estimates of $171.25 million. Marcus & Millichap had a net margin of 9.41% and a return on equity of 34.19%. Marcus & Millichap’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, analysts forecast that Marcus & Millichap Inc. will post $1.75 EPS for the current year.
Separately, Zacks Investment Research upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $37.50.
In other Marcus & Millichap news, SVP William E. Hughes sold 5,000 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $26.17, for a total value of $130,850.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP William E. Hughes sold 13,300 shares of the stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $27.61, for a total transaction of $367,213.00. The disclosure for this sale can be found here. 61.80% of the stock is currently owned by company insiders.
Marcus & Millichap Company Profile
Marcus & Millichap, Inc is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. The Company also offers market research, consulting and advisory services to its clients. It also offers two services to its clients, such as commercial real estate investment brokerage, and financing and ancillary services.
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