Paloma Partners Management Co trimmed its holdings in Marcus & Millichap Inc (NYSE:MMI) by 76.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,653 shares of the real estate investment trust’s stock after selling 31,749 shares during the quarter. Paloma Partners Management Co’s holdings in Marcus & Millichap were worth $377,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MMI. BlackRock Inc. increased its holdings in shares of Marcus & Millichap by 82.9% in the 2nd quarter. BlackRock Inc. now owns 1,943,505 shares of the real estate investment trust’s stock valued at $75,817,000 after acquiring an additional 880,988 shares during the period. Dimensional Fund Advisors LP increased its stake in Marcus & Millichap by 11.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,079,535 shares of the real estate investment trust’s stock valued at $38,928,000 after buying an additional 106,974 shares during the period. Renaissance Technologies LLC increased its stake in Marcus & Millichap by 39.4% in the 2nd quarter. Renaissance Technologies LLC now owns 348,600 shares of the real estate investment trust’s stock valued at $13,599,000 after buying an additional 98,600 shares during the period. Prudential Financial Inc. increased its stake in Marcus & Millichap by 206.4% in the 1st quarter. Prudential Financial Inc. now owns 134,401 shares of the real estate investment trust’s stock valued at $4,846,000 after buying an additional 90,531 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Marcus & Millichap by 189.3% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 138,278 shares of the real estate investment trust’s stock valued at $5,394,000 after buying an additional 90,478 shares during the period. 50.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of MMI opened at $34.57 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.69 and a current ratio of 5.69. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.92 and a beta of 1.25. Marcus & Millichap Inc has a 1 year low of $26.06 and a 1 year high of $41.45.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Tuesday, August 7th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.04. Marcus & Millichap had a net margin of 8.44% and a return on equity of 23.06%. The business had revenue of $199.40 million for the quarter, compared to analysts’ expectations of $194.60 million. equities research analysts expect that Marcus & Millichap Inc will post 1.99 EPS for the current year.

In other news, major shareholder Phoenix Investments Holdings L sold 123,425 shares of the company’s stock in a transaction on Wednesday, July 18th. The shares were sold at an average price of $40.53, for a total transaction of $5,002,415.25. Following the transaction, the insider now directly owns 16,818,340 shares of the company’s stock, valued at approximately $681,647,320.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director George M. Marcus sold 8,914 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $35.51, for a total transaction of $316,536.14. Following the transaction, the director now directly owns 18,021 shares in the company, valued at $639,925.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,269,328 shares of company stock worth $49,369,447. Corporate insiders own 50.10% of the company’s stock.

Several equities analysts have issued reports on MMI shares. Zacks Investment Research cut shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Saturday, August 11th. JMP Securities cut shares of Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 22nd. Finally, Citigroup boosted their price objective on shares of Marcus & Millichap to $46.00 and gave the company a “buy” rating in a research note on Monday, July 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $42.67.

About Marcus & Millichap

Marcus & Millichap, Inc, a brokerage firm, provides 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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