6,317 Shares in Marcus & Millichap Inc (MMI) Purchased by Zacks Investment Management

Zacks Investment Management purchased a new position in Marcus & Millichap Inc (NYSE:MMI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,317 shares of the real estate investment trust’s stock, valued at approximately $246,000.

Other institutional investors also recently bought and sold shares of the company. Summit Global Investments grew its stake in shares of Marcus & Millichap by 8.6% during the second quarter. Summit Global Investments now owns 17,700 shares of the real estate investment trust’s stock valued at $690,000 after buying an additional 1,400 shares during the last quarter. Swiss National Bank grew its stake in shares of Marcus & Millichap by 6.0% during the first quarter. Swiss National Bank now owns 29,900 shares of the real estate investment trust’s stock valued at $1,078,000 after buying an additional 1,700 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Marcus & Millichap by 15.9% during the second quarter. Victory Capital Management Inc. now owns 13,465 shares of the real estate investment trust’s stock valued at $525,000 after buying an additional 1,847 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Marcus & Millichap by 6.3% during the first quarter. Russell Investments Group Ltd. now owns 35,276 shares of the real estate investment trust’s stock valued at $1,272,000 after buying an additional 2,083 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Marcus & Millichap by 36.4% during the first quarter. US Bancorp DE now owns 8,842 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 2,358 shares during the last quarter. 50.88% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on MMI. Zacks Investment Research raised Marcus & Millichap from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, June 26th. ValuEngine cut Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Citigroup raised their price objective on Marcus & Millichap to $46.00 and gave the company a “buy” rating in a research note on Monday, July 2nd. Finally, JMP Securities cut Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 22nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Marcus & Millichap presently has an average rating of “Hold” and a consensus target price of $42.67.

Marcus & Millichap stock traded down $0.65 during trading hours on Wednesday, hitting $31.48. 131,400 shares of the stock traded hands, compared to its average volume of 176,597. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.69 and a current ratio of 5.69. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 2.91 and a beta of 1.26. Marcus & Millichap Inc has a one year low of $26.65 and a one year high of $41.45.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Tuesday, August 7th. The real estate investment trust reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.04. Marcus & Millichap had a return on equity of 23.06% and a net margin of 8.44%. The business had revenue of $199.40 million for the quarter, compared to analysts’ expectations of $194.60 million. On average, analysts predict that Marcus & Millichap Inc will post 1.99 earnings per share for the current year.

In other Marcus & Millichap news, VP Mitchell R. Labar sold 11,000 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $38.44, for a total transaction of $422,840.00. Following the completion of the sale, the vice president now directly owns 419 shares in the company, valued at approximately $16,106.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director George M. Marcus sold 33,154 shares of the business’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $40.48, for a total transaction of $1,342,073.92. Following the sale, the director now owns 18,021 shares of the company’s stock, valued at $729,490.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,269,328 shares of company stock valued at $49,369,447. 50.10% of the stock is owned by company insiders.

About Marcus & Millichap

Marcus & Millichap, Inc, a brokerage firm, provides investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.

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Institutional Ownership by Quarter for Marcus & Millichap (NYSE:MMI)

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