Marcus & Millichap, Inc. (MMI) Position Cut by Alliancebernstein L.P.
Alliancebernstein L.P. cut its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,300 shares of the real estate investment trust’s stock after selling 100 shares during the period. Alliancebernstein L.P.’s holdings in Marcus & Millichap were worth $278,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Sprott Inc. bought a new stake in Marcus & Millichap during the first quarter valued at approximately $2,212,000. Stevens Capital Management LP increased its stake in Marcus & Millichap by 15.6% in the first quarter. Stevens Capital Management LP now owns 9,441 shares of the real estate investment trust’s stock valued at $232,000 after buying an additional 1,276 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Marcus & Millichap by 7.3% in the first quarter. Bank of New York Mellon Corp now owns 96,052 shares of the real estate investment trust’s stock valued at $2,361,000 after buying an additional 6,576 shares during the last quarter. First Trust Advisors LP increased its stake in Marcus & Millichap by 29.9% in the first quarter. First Trust Advisors LP now owns 57,419 shares of the real estate investment trust’s stock valued at $1,411,000 after buying an additional 13,213 shares during the last quarter. Finally, Reinhart Partners Inc. increased its stake in Marcus & Millichap by 21.3% in the first quarter. Reinhart Partners Inc. now owns 124,590 shares of the real estate investment trust’s stock valued at $3,062,000 after buying an additional 21,870 shares during the last quarter. Institutional investors own 42.80% of the company’s stock.
Shares of Marcus & Millichap, Inc. (NYSE MMI) traded down 0.92% on Tuesday, hitting $25.85. 3,194 shares of the company traded hands. The stock’s 50-day moving average price is $26.29 and its 200-day moving average price is $25.67. The company has a market capitalization of $985.32 million, a PE ratio of 16.90 and a beta of 1.55. Marcus & Millichap, Inc. has a 12 month low of $22.93 and a 12 month high of $30.31.
Marcus & Millichap (NYSE:MMI) last released its earnings results on Tuesday, August 8th. The real estate investment trust reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.07. Marcus & Millichap had a net margin of 8.51% and a return on equity of 22.56%. The company had revenue of $180.37 million during the quarter, compared to analysts’ expectations of $177.40 million. During the same quarter last year, the business earned $0.45 EPS. The business’s revenue was down 1.6% on a year-over-year basis. On average, equities analysts predict that Marcus & Millichap, Inc. will post $1.42 earnings per share for the current year.
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Several research firms have recently commented on MMI. ValuEngine downgraded shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub downgraded shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Zacks Investment Research upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.00.
In other news, CEO Hessam Nadji sold 8,500 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $24.41, for a total value of $207,485.00. Following the completion of the sale, the chief executive officer now owns 305,161 shares in the company, valued at approximately $7,448,980.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 58.30% of the stock is currently owned by company insiders.
Marcus & Millichap Company Profile
Marcus & Millichap, Inc is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services. The Company offers three primary services to its clients: commercial real estate investment brokerage, financing, and ancillary services, including other research, advisory and consulting services.
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