Marcus & Millichap, Inc. $MMI Shares Sold by Royce & Associates LP

Royce & Associates LP cut its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 56.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 683,151 shares of the real estate investment trust’s stock after selling 878,967 shares during the quarter. Royce & Associates LP owned 1.76% of Marcus & Millichap worth $18,643,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Marcus & Millichap by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust’s stock worth $104,165,000 after buying an additional 86,609 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in Marcus & Millichap by 2.8% during the 3rd quarter. Pzena Investment Management LLC now owns 631,330 shares of the real estate investment trust’s stock worth $18,530,000 after buying an additional 16,920 shares in the last quarter. Deprince Race & Zollo Inc. lifted its holdings in Marcus & Millichap by 13.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 264,518 shares of the real estate investment trust’s stock worth $7,219,000 after buying an additional 31,380 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Marcus & Millichap by 7.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 206,246 shares of the real estate investment trust’s stock worth $6,053,000 after buying an additional 13,496 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Marcus & Millichap by 9.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 183,430 shares of the real estate investment trust’s stock worth $5,384,000 after buying an additional 15,287 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Marcus & Millichap

In other news, CEO Hessam Nadji sold 1,300 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $25.60, for a total value of $33,280.00. Following the sale, the chief executive officer directly owned 480 shares in the company, valued at approximately $12,288. This trade represents a 73.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 39.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Wells Fargo & Company reduced their target price on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating on the stock in a report on Monday, February 2nd. Finally, Weiss Ratings lowered shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Marcus & Millichap has an average rating of “Sell” and an average target price of $28.00.

Marcus & Millichap Trading Down 3.1%

Shares of MMI opened at $27.93 on Wednesday. Marcus & Millichap, Inc. has a twelve month low of $24.43 and a twelve month high of $33.62. The firm’s fifty day simple moving average is $27.50 and its 200-day simple moving average is $27.44. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -2,790.21 and a beta of 1.25.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). Marcus & Millichap had a negative net margin of 0.08% and a positive return on equity of 0.43%. The business had revenue of $171.47 million for the quarter, compared to analyst estimates of $162.20 million. During the same period last year, the business earned ($0.11) EPS. The company’s revenue was up 18.3% on a year-over-year basis.

Marcus & Millichap Profile

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.