Russell Investments Group Ltd. Decreases Stock Position in Marcus & Millichap, Inc. (NYSE:MMI)

Russell Investments Group Ltd. cut its holdings in Marcus & Millichap, Inc. (NYSE:MMI – Get Rating) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,366 shares of the real estate investment trust’s stock after selling 1,155 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of Marcus & Millichap worth $1,391,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. acquired a new position in shares of Marcus & Millichap in the fourth quarter valued at about $25,000. Point72 Hong Kong Ltd acquired a new position in shares of Marcus & Millichap in the second quarter valued at about $58,000. Captrust Financial Advisors increased its holdings in shares of Marcus & Millichap by 23.1% in the second quarter. Captrust Financial Advisors now owns 1,825 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 342 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Marcus & Millichap by 78.7% in the third quarter. Lazard Asset Management LLC now owns 3,145 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 1,385 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Marcus & Millichap by 46.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,243 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 1,033 shares during the period. 61.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com assumed coverage on Marcus & Millichap in a report on Thursday, May 18th. They issued a “hold” rating on the stock. TheStreet lowered Marcus & Millichap from a “b-” rating to a “c+” rating in a report on Monday, April 24th. Finally, Wells Fargo & Company dropped their target price on Marcus & Millichap from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Friday, January 27th.

Insider Buying and Selling at Marcus & Millichap

In other Marcus & Millichap news, COO John David Parker sold 4,974 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $30.96, for a total value of $153,995.04. Following the sale, the chief operating officer now directly owns 5,932 shares of the company’s stock, valued at $183,654.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 39.20% of the stock is owned by corporate insiders.

Marcus & Millichap Stock Down 2.3 %

Marcus & Millichap stock opened at $29.51 on Thursday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 18.22 and a beta of 1.04. Marcus & Millichap, Inc. has a 52 week low of $27.49 and a 52 week high of $42.15. The business’s 50-day moving average price is $30.62 and its 200 day moving average price is $33.94.

Marcus & Millichap (NYSE:MMI – Get Rating) last issued its quarterly earnings data on Friday, May 5th. The real estate investment trust reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.38). Marcus & Millichap had a net margin of 5.77% and a return on equity of 9.25%. The business had revenue of $154.79 million during the quarter. During the same quarter in the prior year, the firm posted $0.81 earnings per share.

Marcus & Millichap declared that its board has authorized a stock repurchase plan on Thursday, May 4th that permits the company to repurchase $70.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Marcus & Millichap Company Profile

(Get Rating)

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.