Blair William & Co. IL lessened its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 20.9% in the third quarter, HoldingsChannel.com reports. The firm owned 17,260 shares of the real estate investment trust’s stock after selling 4,549 shares during the quarter. Blair William & Co. IL’s holdings in Marcus & Millichap were worth $475,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in Marcus & Millichap by 4.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 16,729 shares of the real estate investment trust’s stock valued at $483,000 after buying an additional 644 shares during the last quarter. American International Group Inc. raised its stake in shares of Marcus & Millichap by 4.1% during the second quarter. American International Group Inc. now owns 16,500 shares of the real estate investment trust’s stock valued at $476,000 after acquiring an additional 655 shares during the last quarter. Pitcairn Co. boosted its holdings in shares of Marcus & Millichap by 7.8% during the second quarter. Pitcairn Co. now owns 9,885 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 718 shares during the period. California State Teachers Retirement System grew its stake in shares of Marcus & Millichap by 2.2% in the second quarter. California State Teachers Retirement System now owns 35,452 shares of the real estate investment trust’s stock worth $1,023,000 after purchasing an additional 767 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Marcus & Millichap by 34.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,338 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 1,102 shares during the period. Hedge funds and other institutional investors own 57.45% of the company’s stock.

MMI stock opened at $35.23 on Friday. Marcus & Millichap, Inc. has a fifty-two week low of $21.90 and a fifty-two week high of $39.32. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 35.23 and a beta of 1.03. The business’s 50 day moving average price is $31.65 and its two-hundred day moving average price is $28.87.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.09. The company had revenue of $158.70 million for the quarter, compared to analyst estimates of $133.50 million. Marcus & Millichap had a return on equity of 10.69% and a net margin of 7.15%. The firm’s revenue was down 19.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. Research analysts forecast that Marcus & Millichap, Inc. will post 0.43 earnings per share for the current year.

A number of brokerages have recently weighed in on MMI. Zacks Investment Research lowered Marcus & Millichap from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. ValuEngine raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Monday, October 12th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. Marcus & Millichap has an average rating of “Hold” and an average target price of $29.00.

In other news, CEO Hessam Nadji sold 9,500 shares of the company’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $34.53, for a total value of $328,035.00. Following the sale, the chief executive officer now directly owns 244,319 shares of the company’s stock, valued at approximately $8,436,335.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 41.30% of the company’s stock.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc, an investment 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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