Marcus & Millichap Inc (MMI) Shares Bought by Arizona State Retirement System

Arizona State Retirement System raised its holdings in Marcus & Millichap Inc (NYSE:MMI) by 1.0% in the first quarter, Holdings Channel reports. The fund owned 33,069 shares of the real estate investment trust’s stock after acquiring an additional 332 shares during the period. Arizona State Retirement System’s holdings in Marcus & Millichap were worth $1,347,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Montreal Can raised its holdings in Marcus & Millichap by 63.2% during the 1st quarter. Bank of Montreal Can now owns 775 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 300 shares during the period. LS Investment Advisors LLC acquired a new stake in Marcus & Millichap during the 4th quarter worth about $82,000. Quantamental Technologies LLC acquired a new stake in Marcus & Millichap during the 4th quarter worth about $99,000. SG Americas Securities LLC acquired a new stake in Marcus & Millichap during the 4th quarter worth about $121,000. Finally, Advisor Group Inc. raised its holdings in Marcus & Millichap by 8.5% during the 4th quarter. Advisor Group Inc. now owns 4,590 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 359 shares during the period. 59.03% of the stock is owned by institutional investors.

Several analysts have issued reports on the company. Zacks Investment Research downgraded Marcus & Millichap from a “hold” rating to a “strong sell” rating in a report on Saturday, February 23rd. ValuEngine upgraded Marcus & Millichap from a “hold” rating to a “buy” rating in a report on Thursday, January 17th.

In other news, VP Mitchell R. Labar sold 787 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $38.46, for a total value of $30,268.02. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Hessam Nadji sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 271,280 shares in the company, valued at approximately $10,476,833.60. The disclosure for this sale can be found here. Insiders sold a total of 26,914 shares of company stock worth $1,056,297 in the last quarter. 41.70% of the stock is owned by corporate insiders.

Shares of MMI opened at $34.09 on Wednesday. The stock has a market capitalization of $1.36 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 3.19 and a beta of 1.25. Marcus & Millichap Inc has a fifty-two week low of $30.66 and a fifty-two week high of $43.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.00 and a current ratio of 4.64.

Marcus & Millichap (NYSE:MMI) last issued its earnings results on Tuesday, May 7th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The business had revenue of $160.70 million during the quarter, compared to analyst estimates of $178.13 million. Marcus & Millichap had a net margin of 10.60% and a return on equity of 21.53%. Marcus & Millichap’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. On average, sell-side analysts expect that Marcus & Millichap Inc will post 1.86 EPS for the current fiscal year.

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Marcus & Millichap Profile

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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