Millennium Management LLC Boosts Stake in Marcus & Millichap Inc (MMI)

Millennium Management LLC lifted its holdings in Marcus & Millichap Inc (NYSE:MMI) by 364.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 347,862 shares of the real estate investment trust’s stock after purchasing an additional 273,022 shares during the period. Millennium Management LLC’s holdings in Marcus & Millichap were worth $11,344,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MMI. Advisor Group Inc. lifted its stake in shares of Marcus & Millichap by 98.1% in the fourth quarter. Advisor Group Inc. now owns 3,368 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 1,668 shares in the last quarter. US Bancorp DE lifted its stake in shares of Marcus & Millichap by 198.3% in the fourth quarter. US Bancorp DE now owns 6,484 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 4,310 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Marcus & Millichap in the third quarter worth about $264,000. Suntrust Banks Inc. lifted its stake in shares of Marcus & Millichap by 23.0% in the fourth quarter. Suntrust Banks Inc. now owns 10,448 shares of the real estate investment trust’s stock worth $340,000 after buying an additional 1,951 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Marcus & Millichap by 70.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,900 shares of the real estate investment trust’s stock worth $355,000 after buying an additional 4,500 shares in the last quarter. 44.97% of the stock is currently owned by hedge funds and other institutional investors.

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In other Marcus & Millichap news, Director George M. Marcus sold 47,639 shares of Marcus & Millichap stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $36.13, for a total transaction of $1,721,197.07. Following the completion of the sale, the director now directly owns 15,879 shares in the company, valued at $573,708.27. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Martin E. Louie sold 7,800 shares of Marcus & Millichap stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $28.90, for a total transaction of $225,420.00. Following the sale, the chief financial officer now owns 56,966 shares of the company’s stock, valued at $1,646,317.40. The disclosure for this sale can be found here. Insiders have sold 679,569 shares of company stock worth $24,301,869 over the last ninety days. 58.30% of the stock is owned by insiders.

A number of brokerages have commented on MMI. William Blair reaffirmed a “market perform” rating on shares of Marcus & Millichap in a research note on Thursday, February 1st. Zacks Investment Research raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, March 14th. JMP Securities raised shares of Marcus & Millichap from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 24th. ValuEngine raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a research note on Saturday, March 10th. Finally, Wells Fargo set a $37.00 target price on shares of Marcus & Millichap and gave the stock a “hold” rating in a research note on Wednesday, March 21st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.50.

Shares of MMI stock opened at $34.73 on Friday. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 0.02. Marcus & Millichap Inc has a 12 month low of $23.40 and a 12 month high of $36.70. The stock has a market cap of $1,365.82, a price-to-earnings ratio of 21.44, a PEG ratio of 3.09 and a beta of 1.31.

Marcus & Millichap (NYSE:MMI) last issued its earnings results on Thursday, March 8th. The real estate investment trust reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.12. Marcus & Millichap had a net margin of 7.16% and a return on equity of 21.35%. The company had revenue of $202.80 million for the quarter, compared to the consensus estimate of $189.10 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Marcus & Millichap’s quarterly revenue was up 7.2% compared to the same quarter last year. research analysts anticipate that Marcus & Millichap Inc will post 1.93 EPS for the current fiscal year.

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Marcus & Millichap Company Profile

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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