Comerica Bank lowered its stake in shares of Marcus & Millichap Inc (NYSE:MMI) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,045 shares of the real estate investment trust’s stock after selling 2,100 shares during the quarter. Comerica Bank owned about 0.06% of Marcus & Millichap worth $723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Bank of Montreal Can boosted its position in Marcus & Millichap by 63.2% during the first quarter. Bank of Montreal Can now owns 775 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 300 shares in the last quarter. NumerixS Investment Technologies Inc raised its stake in shares of Marcus & Millichap by 4,100.0% in the first quarter. NumerixS Investment Technologies Inc now owns 4,200 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 4,100 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Marcus & Millichap by 286.0% in the first quarter. BNP Paribas Arbitrage SA now owns 4,775 shares of the real estate investment trust’s stock worth $194,000 after purchasing an additional 3,538 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Marcus & Millichap in the first quarter worth about $202,000. Finally, Piedmont Investment Advisors Inc. purchased a new position in shares of Marcus & Millichap in the first quarter worth about $217,000. 59.00% of the stock is currently owned by institutional investors.
In other Marcus & Millichap news, CEO Hessam Nadji sold 10,000 shares of Marcus & Millichap stock in a transaction on Monday, August 19th. The stock was sold at an average price of $35.47, for a total value of $354,700.00. Following the sale, the chief executive officer now owns 262,792 shares in the company, valued at $9,321,232.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 41.70% of the stock is owned by insiders.
MMI has been the topic of several analyst reports. ValuEngine raised Marcus & Millichap from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Zacks Investment Research raised Marcus & Millichap from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Saturday, August 10th.
Shares of NYSE:MMI traded down $0.13 during trading on Friday, reaching $37.37. The stock had a trading volume of 105,668 shares, compared to its average volume of 146,361. Marcus & Millichap Inc has a 1-year low of $29.49 and a 1-year high of $43.50. The stock has a market cap of $1.48 billion, a PE ratio of 16.83, a PEG ratio of 3.21 and a beta of 1.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.36 and a current ratio of 4.36. The business has a fifty day moving average price of $34.54 and a 200-day moving average price of $35.73.
Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.11. Marcus & Millichap had a return on equity of 20.13% and a net margin of 10.35%. The firm had revenue of $209.59 million for the quarter, compared to the consensus estimate of $188.33 million. During the same quarter last year, the business posted $0.56 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts expect that Marcus & Millichap Inc will post 1.96 earnings per share for the current year.
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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