Pzena Investment Management LLC grew its holdings in Marcus & Millichap, Inc. (NYSE:MMI – Free Report) by 227.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,012,763 shares of the real estate investment trust’s stock after acquiring an additional 1,398,441 shares during the period. Pzena Investment Management LLC owned about 0.05% of Marcus & Millichap worth $53,519,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Inspire Investing LLC lifted its stake in shares of Marcus & Millichap by 12.2% in the 1st quarter. Inspire Investing LLC now owns 19,244 shares of the real estate investment trust’s stock valued at $512,000 after purchasing an additional 2,092 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Marcus & Millichap by 30.4% in the first quarter. Janney Montgomery Scott LLC now owns 12,727 shares of the real estate investment trust’s stock worth $338,000 after buying an additional 2,964 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Marcus & Millichap during the 1st quarter worth approximately $282,000. Caitong International Asset Management Co. Ltd boosted its stake in Marcus & Millichap by 79,800.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,598 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,596 shares during the last quarter. Finally, State of Tennessee Department of Treasury grew its holdings in shares of Marcus & Millichap by 113.6% in the fourth quarter. State of Tennessee Department of Treasury now owns 13,070 shares of the real estate investment trust’s stock valued at $356,000 after purchasing an additional 6,952 shares during the period. 62.78% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have commented on MMI. Wall Street Zen upgraded Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Weiss Ratings downgraded shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Sell” and an average price target of $28.00.
Marcus & Millichap Stock Performance
Shares of MMI stock opened at $31.79 on Thursday. The stock has a market capitalization of $1.20 billion, a P/E ratio of -3,175.72 and a beta of 1.23. The company has a 50 day moving average price of $29.31 and a 200 day moving average price of $27.56. Marcus & Millichap, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $33.62.
Marcus & Millichap (NYSE:MMI – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $171.47 million for the quarter, compared to the consensus estimate of $162.20 million. Marcus & Millichap had a positive return on equity of 0.43% and a negative net margin of 0.08%.Marcus & Millichap’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.11) EPS.
Marcus & Millichap Company Profile
Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.
The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.
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