Comerica Bank purchased a new stake in Marcus & Millichap Inc (NYSE:MMI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 22,312 shares of the real estate investment trust’s stock, valued at approximately $861,000. Comerica Bank owned approximately 0.06% of Marcus & Millichap as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. LS Investment Advisors LLC purchased a new stake in Marcus & Millichap in the fourth quarter valued at approximately $82,000. Quantamental Technologies LLC purchased a new stake in Marcus & Millichap in the fourth quarter valued at approximately $99,000. SG Americas Securities LLC purchased a new stake in Marcus & Millichap in the fourth quarter valued at approximately $121,000. D.A. Davidson & CO. purchased a new stake in Marcus & Millichap in the fourth quarter valued at approximately $208,000. Finally, State of Alaska Department of Revenue purchased a new stake in Marcus & Millichap in the fourth quarter valued at approximately $243,000. Institutional investors own 57.96% of the company’s stock.
In other news, CFO Martin E. Louie sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $39.98, for a total transaction of $279,860.00. Following the completion of the sale, the chief financial officer now owns 78,964 shares in the company, valued at $3,156,980.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mitchell R. Labar sold 9,127 shares of the company’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 disclosure for this sale can be found here. Insiders have sold 26,127 shares of company stock valued at $1,026,029 in the last 90 days. Company insiders own 50.10% of the company’s stock.
Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.13. Marcus & Millichap had a return on equity of 23.51% and a net margin of 10.71%. The business had revenue of $230.30 million during the quarter, compared to analysts’ expectations of $209.75 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marcus & Millichap Inc will post 2.15 EPS for the current fiscal year.
MMI has been the subject of a number of research reports. ValuEngine upgraded Marcus & Millichap from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th. Zacks Investment Research cut Marcus & Millichap from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $41.67.
TRADEMARK VIOLATION NOTICE: This article was originally published by Ticker Report and is owned by of Ticker Report. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.tickerreport.com/banking-finance/4222465/22312-shares-in-marcus-millichap-inc-mmi-purchased-by-comerica-bank.html.
About Marcus & Millichap
Marcus & Millichap, Inc operates as a brokerage company specializing in commercial real estate investment sales, financing, research, and advisory services. The company provides investment brokerage and financing services to investors of all sizes and types of commercial real estate properties. It serves clients with one property, multiple properties, and investment portfolios.
Featured Article: Can individual investors take part in an IPO?
Receive News & Ratings for Marcus & Millichap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marcus & Millichap and related companies with MarketBeat.com's FREE daily email newsletter.