Jennison Associates LLC cut its stake in Marcus & Millichap Inc (NYSE:MMI) by 37.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,149 shares of the real estate investment trust’s stock after selling 16,205 shares during the quarter. Jennison Associates LLC’s holdings in Marcus & Millichap were worth $1,106,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Marcus & Millichap by 0.7% in the 1st quarter. BlackRock Inc. now owns 3,783,020 shares of the real estate investment trust’s stock valued at $154,082,000 after acquiring an additional 26,719 shares during the last quarter. Royce & Associates LP increased its stake in shares of Marcus & Millichap by 3.8% in the 4th quarter. Royce & Associates LP now owns 3,057,930 shares of the real estate investment trust’s stock valued at $104,979,000 after acquiring an additional 112,212 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Marcus & Millichap by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,261,381 shares of the real estate investment trust’s stock valued at $51,375,000 after acquiring an additional 41,873 shares during the last quarter. Tributary Capital Management LLC increased its stake in shares of Marcus & Millichap by 12.9% in the 1st quarter. Tributary Capital Management LLC now owns 666,217 shares of the real estate investment trust’s stock valued at $27,135,000 after acquiring an additional 76,320 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Marcus & Millichap in the 4th quarter valued at about $13,004,000. 57.50% of the stock is owned by institutional investors.

A number of research firms recently issued reports on MMI. Zacks Investment Research cut Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. ValuEngine cut Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th.

In related news, VP Mitchell R. Labar sold 10,586 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $31.24, for a total transaction of $330,706.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 41.70% of the stock is currently owned by corporate insiders.

NYSE MMI traded down $0.02 during trading hours on Wednesday, reaching $31.10. 1,043 shares of the company’s stock were exchanged, compared to its average volume of 211,878. Marcus & Millichap Inc has a one year low of $29.71 and a one year high of $43.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.64 and a current ratio of 4.64. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 2.78 and a beta of 1.45.

Marcus & Millichap (NYSE:MMI) last posted its earnings results on Tuesday, May 7th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Marcus & Millichap had a return on equity of 21.53% and a net margin of 10.60%. The business had revenue of $160.70 million for the quarter, compared to the consensus estimate of $178.13 million. During the same period in the previous year, the company posted $0.46 earnings per share. Marcus & Millichap’s revenue for the quarter was down 7.9% compared to the same quarter last year. On average, analysts predict that Marcus & Millichap Inc will post 1.86 EPS for the current year.

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Marcus & Millichap Company Profile

Marcus & Millichap, Inc, a 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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