Vaughan Nelson Investment Management L.P. lessened its position in Marcus & Millichap, Inc. (NYSE:MMI) by 10.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,004,063 shares of the real estate investment trust’s stock after selling 114,395 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 2.55% of Marcus & Millichap worth $27,632,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Bank of Montreal Can increased its stake in Marcus & Millichap by 301.7% during the 2nd quarter. Bank of Montreal Can now owns 4,395 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 3,301 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Marcus & Millichap by 34.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,338 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 1,102 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Marcus & Millichap by 211.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,880 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 3,993 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in shares of Marcus & Millichap during the 1st quarter worth about $168,000. Finally, Royal Bank of Canada grew its holdings in shares of Marcus & Millichap by 230.0% in the 1st quarter. Royal Bank of Canada now owns 9,566 shares of the real estate investment trust’s stock valued at $259,000 after acquiring an additional 6,667 shares in the last quarter. 57.45% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on MMI. Zacks Investment Research lowered Marcus & Millichap from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. ValuEngine raised Marcus & Millichap from a “hold” rating to a “buy” rating in a report on Monday, October 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. Marcus & Millichap currently has a consensus rating of “Hold” and a consensus price target of $29.00.
In other Marcus & Millichap news, CEO Hessam Nadji sold 9,500 shares of the business’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $34.53, for a total transaction of $328,035.00. Following the completion of the sale, the chief executive officer now owns 244,319 shares of the company’s stock, valued at $8,436,335.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 41.30% of the stock is currently owned by insiders.
NYSE:MMI opened at $35.25 on Tuesday. Marcus & Millichap, Inc. has a twelve month low of $21.90 and a twelve month high of $39.32. The firm’s fifty day simple moving average is $31.03 and its 200 day simple moving average is $28.75. The stock has a market cap of $1.39 billion, a P/E ratio of 35.25 and a beta of 1.03.
Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.09. The company had revenue of $158.70 million for the quarter, compared to the consensus estimate of $133.50 million. Marcus & Millichap had a return on equity of 10.69% and a net margin of 7.15%. The firm’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 EPS. Analysts predict that Marcus & Millichap, Inc. will post 0.43 earnings per share for the current fiscal year.
About Marcus & Millichap
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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