Marcus & Millichap, Inc. (NYSE:MMI) Shares Sold by Scharf Investments LLC

Scharf Investments LLC decreased its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,777 shares of the real estate investment trust’s stock after selling 750 shares during the quarter. Scharf Investments LLC’s holdings in Marcus & Millichap were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MMI. Deutsche Bank AG increased its position in Marcus & Millichap by 54.1% during the fourth quarter. Deutsche Bank AG now owns 21,494 shares of the real estate investment trust’s stock worth $822,000 after purchasing an additional 7,542 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Marcus & Millichap in the 4th quarter valued at approximately $830,000. JPMorgan Chase & Co. increased its holdings in shares of Marcus & Millichap by 61.5% during the 4th quarter. JPMorgan Chase & Co. now owns 123,089 shares of the real estate investment trust’s stock worth $4,709,000 after buying an additional 46,865 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Marcus & Millichap by 4,330.3% during the 1st quarter. GAMMA Investing LLC now owns 20,911 shares of the real estate investment trust’s stock worth $720,000 after buying an additional 20,439 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Marcus & Millichap by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 403,560 shares of the real estate investment trust’s stock valued at $15,440,000 after buying an additional 18,785 shares during the period. Institutional investors and hedge funds own 62.78% of the company’s stock.

Marcus & Millichap Stock Performance

MMI opened at $30.82 on Monday. The stock has a market capitalization of $1.20 billion, a PE ratio of -181.30 and a beta of 1.23. Marcus & Millichap, Inc. has a one year low of $27.61 and a one year high of $42.80. The business’s 50 day moving average price is $30.03 and its 200 day moving average price is $34.37.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. The business had revenue of $145.04 million for the quarter, compared to analyst estimates of $140.20 million. Marcus & Millichap had a negative return on equity of 1.09% and a negative net margin of 0.95%.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.