Vanguard Group Inc. Buys 86,609 Shares of Marcus & Millichap, Inc. $MMI

Vanguard Group Inc. grew its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,816,951 shares of the real estate investment trust’s stock after buying an additional 86,609 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Marcus & Millichap worth $104,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMI. CWM LLC boosted its holdings in Marcus & Millichap by 299.6% during the third quarter. CWM LLC now owns 3,261 shares of the real estate investment trust’s stock worth $96,000 after buying an additional 2,445 shares during the last quarter. LRI Investments LLC boosted its holdings in Marcus & Millichap by 316.2% during the third quarter. LRI Investments LLC now owns 3,484 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 2,647 shares during the last quarter. Quantbot Technologies LP bought a new position in Marcus & Millichap during the second quarter worth about $137,000. Strs Ohio bought a new position in Marcus & Millichap during the first quarter worth about $145,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Marcus & Millichap by 769.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,286 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 4,678 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MMI. Wall Street Zen cut Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Wells Fargo & Company cut their price objective on Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating on the stock in a report on Monday, February 2nd. Finally, Weiss Ratings cut Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Sell” and an average price target of $28.00.

Marcus & Millichap Stock Performance

NYSE MMI opened at $30.09 on Wednesday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -3,005.79 and a beta of 1.25. The stock’s 50 day moving average price is $27.05 and its two-hundred day moving average price is $27.54. Marcus & Millichap, Inc. has a 52 week low of $24.43 and a 52 week high of $33.62.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The firm had revenue of $171.47 million for the quarter, compared to analysts’ expectations of $162.20 million. Marcus & Millichap had a positive return on equity of 0.43% and a negative net margin of 0.08%.The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.11) EPS.

Insider Buying and Selling

In other Marcus & Millichap news, CEO Hessam Nadji sold 1,300 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $25.60, for a total value of $33,280.00. Following the sale, the chief executive officer owned 480 shares in the company, valued at approximately $12,288. The trade was a 73.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 39.89% of the company’s stock.

Marcus & Millichap Company Profile

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.