Bowling Portfolio Management LLC Has $1.02 Million Stake in Marcus & Millichap Inc (MMI)

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Bowling Portfolio Management LLC lowered its stake in Marcus & Millichap Inc (NYSE:MMI) by 44.1% during the third quarter, HoldingsChannel.com reports. The firm owned 29,239 shares of the real estate investment trust’s stock after selling 23,023 shares during the period. Bowling Portfolio Management LLC’s holdings in Marcus & Millichap were worth $1,015,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Summit Global Investments lifted its stake in shares of Marcus & Millichap by 8.6% in the 2nd quarter. Summit Global Investments now owns 17,700 shares of the real estate investment trust’s stock valued at $690,000 after purchasing an additional 1,400 shares during the period. Schroder Investment Management Group lifted its stake in shares of Marcus & Millichap by 7.0% in the 2nd quarter. Schroder Investment Management Group now owns 22,001 shares of the real estate investment trust’s stock valued at $862,000 after purchasing an additional 1,436 shares during the period. Victory Capital Management Inc. raised its stake in Marcus & Millichap by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 13,465 shares of the real estate investment trust’s stock worth $525,000 after buying an additional 1,847 shares during the period. Russell Investments Group Ltd. raised its stake in Marcus & Millichap by 6.3% during the 1st quarter. Russell Investments Group Ltd. now owns 35,276 shares of the real estate investment trust’s stock worth $1,272,000 after buying an additional 2,083 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in Marcus & Millichap by 4.6% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 60,628 shares of the real estate investment trust’s stock worth $2,365,000 after buying an additional 2,660 shares during the period. 50.87% of the stock is currently owned by institutional investors.

In other Marcus & Millichap news, Director George M. Marcus sold 8,000 shares of Marcus & Millichap stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $35.40, for a total value of $283,200.00. Following the sale, the director now owns 18,021 shares of the company’s stock, valued at approximately $637,943.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George M. Marcus sold 1,420 shares of Marcus & Millichap stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $36.81, for a total value of $52,270.20. Following the completion of the sale, the director now directly owns 18,021 shares in the company, valued at approximately $663,353.01. The disclosure for this sale can be found here. Insiders have sold a total of 946,460 shares of company stock worth $36,305,970 in the last ninety days. 58.30% of the stock is currently owned by company insiders.

MMI has been the topic of several research analyst reports. Zacks Investment Research downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Saturday, August 11th. JMP Securities downgraded Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 22nd. ValuEngine downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Citigroup raised their price objective on Marcus & Millichap to $46.00 and gave the stock a “buy” rating in a research note on Monday, July 2nd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $42.67.

Shares of Marcus & Millichap stock opened at $32.27 on Monday. The firm has a market cap of $1.25 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. Marcus & Millichap Inc has a 12 month low of $26.65 and a 12 month high of $41.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.69 and a current ratio of 5.69.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Tuesday, August 7th. The real estate investment trust reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.04. The business had revenue of $199.40 million for the quarter, compared to the consensus estimate of $194.60 million. Marcus & Millichap had a return on equity of 23.06% and a net margin of 8.44%. On average, analysts expect that Marcus & Millichap Inc will post 1.99 EPS for the current year.

Marcus & Millichap Profile

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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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Institutional Ownership by Quarter for Marcus & Millichap (NYSE:MMI)

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