Principal Financial Group Inc. Grows Position in Marcus & Millichap Inc (MMI)

Principal Financial Group Inc. boosted its stake in shares of Marcus & Millichap Inc (NYSE:MMI) by 1,549.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 199,525 shares of the real estate investment trust’s stock after purchasing an additional 187,425 shares during the period. Principal Financial Group Inc. owned about 0.52% of Marcus & Millichap worth $6,850,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MMI. Pitcairn Co. lifted its position in shares of Marcus & Millichap by 3.6% in the fourth quarter. Pitcairn Co. now owns 8,286 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 285 shares in the last quarter. Advisor Group Inc. increased its stake in Marcus & Millichap by 8.5% during the fourth quarter. Advisor Group Inc. now owns 4,590 shares of the real estate investment trust’s stock worth $158,000 after acquiring an additional 359 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Marcus & Millichap by 1.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 20,079 shares of the real estate investment trust’s stock worth $689,000 after acquiring an additional 376 shares during the last quarter. Victory Capital Management Inc. increased its stake in Marcus & Millichap by 4.0% during the fourth quarter. Victory Capital Management Inc. now owns 17,587 shares of the real estate investment trust’s stock worth $604,000 after acquiring an additional 684 shares during the last quarter. Finally, Summit Global Investments increased its stake in Marcus & Millichap by 3.7% during the fourth quarter. Summit Global Investments now owns 19,600 shares of the real estate investment trust’s stock worth $673,000 after acquiring an additional 700 shares during the last quarter. Institutional investors own 58.50% of the company’s stock.

Shares of MMI traded up $0.32 during mid-day trading on Friday, reaching $43.00. 108,178 shares of the company’s stock traded hands, compared to its average volume of 195,887. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 3.36 and a beta of 1.25. Marcus & Millichap Inc has a 12 month low of $30.66 and a 12 month high of $43.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.00 and a current ratio of 4.00.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Wednesday, February 20th. The real estate investment trust reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. The firm had revenue of $230.30 million for the quarter, compared to analysts’ expectations of $209.75 million. Marcus & Millichap had a return on equity of 23.51% and a net margin of 10.71%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 earnings per share. As a group, analysts predict that Marcus & Millichap Inc will post 2.14 earnings per share for the current fiscal year.

A number of research analysts have recently commented on the company. Zacks Investment Research cut Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. ValuEngine raised Marcus & Millichap from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th.

In related news, COO Mitchell R. Labar sold 9,127 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $39.44, for a total value of $359,968.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hessam Nadji sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $38.62, for a total value of $386,200.00. Following the completion of the sale, the chief executive officer now owns 271,280 shares of the company’s stock, valued at approximately $10,476,833.60. The disclosure for this sale can be found here. Insiders sold 26,914 shares of company stock valued at $1,056,297 in the last quarter. 41.70% of the stock is owned by company insiders.

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About Marcus & Millichap

Marcus & Millichap, Inc, a brokerage company, provides real estate 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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