Emerald Advisers Inc. PA cut its position in Marcus & Millichap Inc. (NYSE:MMI) by 14.3% during the second quarter, Holdings Channel reports. The fund owned 284,488 shares of the real estate investment trust’s stock after selling 47,350 shares during the period. Emerald Advisers Inc. PA’s holdings in Marcus & Millichap were worth $7,229,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in Marcus & Millichap during the second quarter worth approximately $122,000. Strs Ohio raised its stake in Marcus & Millichap by 1.6% in the second quarter. Strs Ohio now owns 25,900 shares of the real estate investment trust’s stock worth $658,000 after buying an additional 400 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its stake in Marcus & Millichap by 48.3% in the second quarter. Prescott Group Capital Management L.L.C. now owns 33,761 shares of the real estate investment trust’s stock worth $858,000 after buying an additional 11,000 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Marcus & Millichap during the first quarter worth about $1,252,000. Finally, BlackRock Inc. raised its stake in Marcus & Millichap by 7.8% in the first quarter. BlackRock Inc. now owns 66,131 shares of the real estate investment trust’s stock worth $1,679,000 after buying an additional 4,791 shares in the last quarter. Institutional investors and hedge funds own 35.28% of the company’s stock.
Marcus & Millichap Inc. (NYSE:MMI) traded down 1.68% on Friday, reaching $25.17. 91,219 shares of the company’s stock traded hands. The stock’s 50 day moving average is $25.81 and its 200 day moving average is $25.79. The firm has a market cap of $946.57 million, a price-to-earnings ratio of 14.63 and a beta of 1.46. Marcus & Millichap Inc. has a 52-week low of $18.77 and a 52-week high of $49.97.
Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Thursday, August 4th. The real estate investment trust reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. Marcus & Millichap had a net margin of 9.41% and a return on equity of 34.19%. The firm had revenue of $183.38 million for the quarter, compared to analyst estimates of $171.25 million. The business’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts predict that Marcus & Millichap Inc. will post $1.75 EPS for the current fiscal year.
Separately, Zacks Investment Research lowered shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.50.
In other Marcus & Millichap news, SVP William E. Hughes sold 13,300 shares of the stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $27.61, for a total transaction of $367,213.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Hessam Nadji sold 4,500 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $28.65, for a total transaction of $128,925.00. Following the sale, the chief executive officer now directly owns 361,271 shares in the company, valued at approximately $10,350,414.15. The disclosure for this sale can be found here. Company insiders own 61.80% of the company’s stock.
Marcus & Millichap Company Profile
Marcus & Millichap, Inc is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. The Company also offers market research, consulting and advisory services to its clients. It also offers two services to its clients, such as commercial real estate investment brokerage, and financing and ancillary services.
Want to see what other hedge funds are holding MMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marcus & Millichap Inc. (NYSE:MMI).
Receive News & Ratings for Marcus & Millichap Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marcus & Millichap Inc. and related companies with MarketBeat.com's FREE daily email newsletter.