Swiss National Bank grew its position in shares of Marcus & Millichap, Inc. (NYSE:MMI – Get Rating) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,700 shares of the real estate investment trust’s stock after purchasing an additional 2,800 shares during the period. Swiss National Bank owned about 0.16% of Marcus & Millichap worth $2,160,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its stake in Marcus & Millichap by 1.5% during the fourth quarter. SummerHaven Investment Management LLC now owns 20,987 shares of the real estate investment trust’s stock worth $723,000 after purchasing an additional 311 shares during the last quarter. 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 worth $68,000 after buying an additional 342 shares during the period. Amalgamated Bank increased its holdings in shares of Marcus & Millichap by 3.4% in the third quarter. Amalgamated Bank now owns 12,255 shares of the real estate investment trust’s stock worth $402,000 after buying an additional 406 shares during the period. Federated Hermes Inc. increased its holdings in shares of Marcus & Millichap by 0.3% in the first quarter. Federated Hermes Inc. now owns 129,699 shares of the real estate investment trust’s stock worth $6,833,000 after buying an additional 406 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Marcus & Millichap by 10.6% in the third quarter. SG Americas Securities LLC now owns 4,248 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 407 shares during the period. Institutional investors own 61.56% of the company’s stock.
Insiders Place Their Bets
In other Marcus & Millichap news, COO John David Parker sold 4,974 shares of the company’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 transaction of $153,995.04. Following the transaction, the chief operating officer now owns 5,932 shares in the company, valued at approximately $183,654.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 39.20% of the company’s stock.
Marcus & Millichap Price Performance
Marcus & Millichap (NYSE:MMI – Get Rating) last announced its quarterly earnings results on Friday, May 5th. The real estate investment trust reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter. During the same quarter in the previous year, the company posted $0.81 EPS.
Marcus & Millichap declared that its board has authorized a share repurchase program on Thursday, May 4th that permits the company to buyback $70.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.
Analysts Set New Price Targets
MMI has been the topic of several analyst reports. TheStreet downgraded Marcus & Millichap from a “b-” rating to a “c+” rating in a report on Monday, April 24th. StockNews.com initiated coverage on Marcus & Millichap in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company reduced their price target on Marcus & Millichap from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Friday, January 27th.
About Marcus & Millichap
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.
- Get a free copy of the StockNews.com research report on Marcus & Millichap (MMI)
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