Stone Ridge Asset Management LLC bought a new position in Marcus & Millichap Inc (NYSE:MMI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 21,752 shares of the real estate investment trust’s stock, valued at approximately $709,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisor Group Inc. increased its position in Marcus & Millichap by 98.1% in the fourth quarter. Advisor Group Inc. now owns 3,368 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 1,668 shares during the period. US Bancorp DE increased its position in Marcus & Millichap by 198.3% in the fourth quarter. US Bancorp DE now owns 6,484 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 4,310 shares during the period. Victory Capital Management Inc. increased its position in Marcus & Millichap by 39.5% in the third quarter. Victory Capital Management Inc. now owns 8,407 shares of the real estate investment trust’s stock worth $227,000 after buying an additional 2,380 shares during the period. Russell Investments Group Ltd. acquired a new stake in Marcus & Millichap in the third quarter worth $264,000. Finally, Suntrust Banks Inc. increased its position in Marcus & Millichap by 23.0% in the fourth quarter. Suntrust Banks Inc. now owns 10,448 shares of the real estate investment trust’s stock worth $340,000 after buying an additional 1,951 shares during the period. 44.97% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, major shareholder Phoenix Investments Holdings L sold 199,010 shares of the stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $35.70, for a total value of $7,104,657.00. Following the completion of the transaction, the insider now owns 18,228,350 shares of the company’s stock, valued at $650,752,095. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George M. Marcus sold 47,639 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $36.13, for a total value of $1,721,197.07. Following the completion of the transaction, the director now directly owns 15,879 shares of the company’s stock, valued at approximately $573,708.27. The disclosure for this sale can be found here. In the last three months, insiders sold 679,750 shares of company stock valued at $24,204,890. Company insiders own 58.30% of the company’s stock.

Several equities research analysts have weighed in on MMI shares. JMP Securities raised Marcus & Millichap from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. ValuEngine raised Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Saturday, March 10th. Zacks Investment Research lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Wells Fargo set a $37.00 target price on Marcus & Millichap and gave the stock a “hold” rating in a research report on Wednesday. Finally, William Blair reaffirmed a “market perform” rating on shares of Marcus & Millichap in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Marcus & Millichap currently has a consensus rating of “Buy” and an average price target of $38.50.

Marcus & Millichap Inc (NYSE:MMI) opened at $36.13 on Friday. Marcus & Millichap Inc has a 52 week low of $23.22 and a 52 week high of $36.70. The stock has a market capitalization of $1,363.15, a price-to-earnings ratio of 22.20, a PEG ratio of 3.09 and a beta of 1.47. The company has a quick ratio of 4.62, a current ratio of 3.85 and a debt-to-equity ratio of 0.02.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Thursday, March 8th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.12. Marcus & Millichap had a return on equity of 21.35% and a net margin of 7.16%. The company had revenue of $202.80 million during the quarter, compared to analysts’ expectations of $189.10 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. research analysts expect that Marcus & Millichap Inc will post 1.93 EPS for the current year.

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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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