Vanguard Group Inc. Has $104.17 Million Position in Marcus & Millichap, Inc. $MMI

Vanguard Group Inc. boosted its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,816,951 shares of the real estate investment trust’s stock after acquiring an additional 86,609 shares during the quarter. Vanguard Group Inc. owned 9.81% of Marcus & Millichap worth $104,165,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Deprince Race & Zollo Inc. raised its stake in Marcus & Millichap by 13.5% during the fourth quarter. Deprince Race & Zollo Inc. now owns 264,518 shares of the real estate investment trust’s stock worth $7,219,000 after acquiring an additional 31,380 shares in the last quarter. Hunter Perkins Capital Management LLC raised its stake in Marcus & Millichap by 1.9% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 31,130 shares of the real estate investment trust’s stock worth $850,000 after acquiring an additional 580 shares in the last quarter. SG Americas Securities LLC raised its stake in Marcus & Millichap by 141.1% during the fourth quarter. SG Americas Securities LLC now owns 15,098 shares of the real estate investment trust’s stock worth $412,000 after acquiring an additional 8,835 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Marcus & Millichap by 79.6% during the third quarter. JPMorgan Chase & Co. now owns 57,410 shares of the real estate investment trust’s stock worth $1,685,000 after acquiring an additional 25,441 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in Marcus & Millichap by 35.7% during the third quarter. Tudor Investment Corp ET AL now owns 90,830 shares of the real estate investment trust’s stock worth $2,666,000 after acquiring an additional 23,885 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Marcus & Millichap Stock Performance

Shares of NYSE:MMI opened at $30.09 on Wednesday. The business has a fifty day moving average of $27.05 and a 200-day moving average of $27.54. The firm has a market cap of $1.14 billion, a PE ratio of -3,005.79 and a beta of 1.25. Marcus & Millichap, Inc. has a twelve month low of $24.43 and a twelve month high of $33.62.

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

Insider Buying and Selling

In related news, CEO Hessam Nadji sold 1,300 shares of Marcus & Millichap stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $25.60, for a total value of $33,280.00. Following the completion of the sale, the chief executive officer directly owned 480 shares in the company, valued at $12,288. This trade represents a 73.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 39.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

MMI has been the subject of a number of research reports. Wall Street Zen lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings lowered Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. Finally, Wells Fargo & Company lowered their target price on Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Sell” and a consensus price target of $28.00.

About Marcus & Millichap

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.