Marcus & Millichap, Inc. $MMI Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 56.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 683,151 shares of the real estate investment trust’s stock after selling 878,967 shares during the quarter. Royce & Associates LP’s holdings in Marcus & Millichap were worth $18,643,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Legato Capital Management LLC acquired a new stake in Marcus & Millichap during the 4th quarter worth $439,000. New York State Teachers Retirement System raised its stake in Marcus & Millichap by 10.9% during the 4th quarter. New York State Teachers Retirement System now owns 23,728 shares of the real estate investment trust’s stock worth $648,000 after acquiring an additional 2,326 shares in the last quarter. Vanguard Group Inc. raised its stake in Marcus & Millichap by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust’s stock worth $104,165,000 after acquiring an additional 86,609 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in Marcus & Millichap by 13.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 264,518 shares of the real estate investment trust’s stock worth $7,219,000 after acquiring an additional 31,380 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC raised its stake in Marcus & Millichap by 1.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 31,130 shares of the real estate investment trust’s stock worth $850,000 after acquiring an additional 580 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marcus & Millichap

In other Marcus & Millichap news, CEO Hessam Nadji sold 1,300 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $25.60, for a total transaction of $33,280.00. Following the transaction, the chief executive officer directly owned 480 shares of the company’s stock, valued at approximately $12,288. This trade represents a 73.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 39.20% of the company’s stock.

Marcus & Millichap Stock Performance

Shares of Marcus & Millichap stock opened at $27.93 on Wednesday. Marcus & Millichap, Inc. has a 1 year low of $24.43 and a 1 year high of $33.62. The company has a market capitalization of $1.06 billion, a P/E ratio of -2,790.21 and a beta of 1.25. The company’s fifty day moving average is $27.50 and its two-hundred day moving average is $27.44.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). Marcus & Millichap had a negative net margin of 0.08% and a positive return on equity of 0.43%. The company had revenue of $171.47 million for the quarter, compared to the consensus estimate of $162.20 million. During the same period last year, the firm posted ($0.11) EPS. Marcus & Millichap’s revenue for the quarter was up 18.3% on a year-over-year basis.

Wall Street Analyst Weigh In

MMI has been the topic of several research analyst reports. Wall Street Zen lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Wells Fargo & Company cut their price target on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating on the stock in a research note on Monday, February 2nd. Finally, Weiss Ratings lowered shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Sell” and an average price target of $28.00.

About Marcus & Millichap

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.