Tudor Investment Corp Et Al cut its stake in shares of Marcus & Millichap Inc (NYSE:MMI) by 52.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,405 shares of the real estate investment trust’s stock after selling 11,557 shares during the period. Tudor Investment Corp Et Al’s holdings in Marcus & Millichap were worth $278,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in MMI. Catalyst Capital Advisors LLC bought a new stake in Marcus & Millichap during the third quarter valued at approximately $131,000. Wells Fargo & Company MN increased its stake in Marcus & Millichap by 5.6% in the third quarter. Wells Fargo & Company MN now owns 5,622 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 300 shares during the last quarter. First Trust Advisors LP bought a new stake in Marcus & Millichap during the third quarter valued at approximately $368,000. Midas Management Corp bought a new stake in Marcus & Millichap during the third quarter valued at approximately $393,000. Finally, Russell Investments Group Ltd. bought a new stake in Marcus & Millichap during the fourth quarter valued at approximately $471,000. 34.26% of the stock is owned by institutional investors.
Shares of Marcus & Millichap Inc (NYSE:MMI) opened at 24.91 on Wednesday. The firm has a market cap of $943.64 million, a P/E ratio of 15.01 and a beta of 1.57. Marcus & Millichap Inc has a 12-month low of $22.93 and a 12-month high of $30.31. The stock has a 50 day moving average price of $26.48 and a 200 day moving average price of $25.98.
Marcus & Millichap (NYSE:MMI) last issued its earnings results on Thursday, March 9th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.02. The business earned $189.20 million during the quarter, compared to the consensus estimate of $192.93 million. Marcus & Millichap had a return on equity of 31.33% and a net margin of 9.22%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. On average, equities analysts expect that Marcus & Millichap Inc will post $1.65 earnings per share for the current year.
Several research firms have recently commented on MMI. Wells Fargo & Co reissued a “hold” rating and issued a $27.00 price objective on shares of Marcus & Millichap in a report on Thursday, December 1st. Zacks Investment Research downgraded Marcus & Millichap from a “hold” rating to a “sell” rating in a report on Wednesday, January 4th. Finally, Citigroup Inc began coverage on Marcus & Millichap in a report on Tuesday, December 20th. They issued a “neutral” rating for the company. One 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’s stock. The company presently has an average rating of “Hold” and an average target price of $27.00.
In other Marcus & Millichap news, CFO Martin E. Louie sold 28,107 shares of Marcus & Millichap 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 this hyperlink. Also, SVP William E. Hughes sold 6,541 shares of Marcus & Millichap stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $27.99, for a total value of $183,082.59. Following the completion of the sale, the senior vice president now owns 40,540 shares of the company’s stock, valued at $1,134,714.60. The disclosure for this sale can be found here. Insiders own 61.80% of the company’s stock.
About Marcus & Millichap
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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