Wells Fargo & Company MN raised its position in Marcus & Millichap Inc. (NYSE:MMI) by 5.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,622 shares of the real estate investment trust’s stock after buying an additional 300 shares during the period. Wells Fargo & Company MN’s holdings in Marcus & Millichap were worth $147,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Marcus & Millichap by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 76,064 shares of the real estate investment trust’s stock worth $1,933,000 after buying an additional 1,273 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Marcus & Millichap by 6.0% in the second quarter. California State Teachers Retirement System now owns 30,458 shares of the real estate investment trust’s stock worth $774,000 after buying an additional 1,721 shares during the last quarter. New Amsterdam Partners LLC NY purchased a new stake in shares of Marcus & Millichap during the second quarter worth approximately $4,617,000. Emerald Acquisition Ltd. purchased a new stake in shares of Marcus & Millichap during the second quarter worth approximately $995,000. Finally, Royce & Associates LP boosted its stake in shares of Marcus & Millichap by 48.0% in the second quarter. Royce & Associates LP now owns 2,365,410 shares of the real estate investment trust’s stock worth $60,105,000 after buying an additional 767,478 shares during the last quarter. 33.82% of the stock is owned by institutional investors.
Shares of Marcus & Millichap Inc. (NYSE:MMI) traded down 0.82% during midday trading on Friday, hitting $25.32. 94,837 shares of the stock were exchanged. The company has a market cap of $952.44 million, a price-to-earnings ratio of 14.72 and a beta of 1.60. The firm has a 50 day moving average of $27.21 and a 200-day moving average of $26.17. Marcus & Millichap Inc. has a one year low of $18.77 and a one year high of $30.31.
Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Thursday, November 3rd. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. The firm earned $180.63 million during the quarter, compared to the consensus estimate of $169.80 million. Marcus & Millichap had a return on equity of 31.33% and a net margin of 9.22%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 earnings per share. Equities analysts expect that Marcus & Millichap Inc. will post $1.66 EPS for the current year.
A number of brokerages have recently commented on MMI. Zacks Investment Research raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Tuesday, November 8th. Citigroup Inc. began coverage on shares of Marcus & Millichap in a research note on Tuesday, December 20th. They set a “neutral” rating on the stock. Wells Fargo & Co. reaffirmed a “hold” rating and set a $27.00 price objective on shares of Marcus & Millichap in a research note on Thursday, December 1st. Finally, TheStreet raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a research note on Monday, October 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $27.00.
In related news, CFO Martin E. Louie sold 28,107 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $26.56, for a total value of $746,521.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hessam Nadji sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $26.79, for a total value of $120,555.00. Following the completion of the transaction, the chief executive officer now directly owns 355,233 shares of the company’s stock, valued at $9,516,692.07. The disclosure for this sale can be found here. Insiders sold 85,224 shares of company stock valued at $2,299,814 over the last ninety days. 61.80% of the stock is currently owned by corporate 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.
Want to see what other hedge funds are holding MMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marcus & Millichap Inc. (NYSE:MMI).