Marcus & Millichap (NYSE:MMI) Upgraded at StockNews.com

StockNews.com upgraded shares of Marcus & Millichap (NYSE:MMI) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

Marcus & Millichap Price Performance

MMI stock opened at $39.87 on Wednesday. Marcus & Millichap has a 12 month low of $26.81 and a 12 month high of $44.24. The company’s 50-day moving average price is $33.08 and its two-hundred day moving average price is $34.36.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.26) earnings per share (EPS) for the quarter. The company had revenue of $129.10 million for the quarter. Marcus & Millichap had a negative net margin of 6.16% and a negative return on equity of 5.91%.

Insider Activity at Marcus & Millichap

In related news, insider Gregory A. Laberge sold 1,000 shares of Marcus & Millichap stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $32.68, for a total transaction of $32,680.00. Following the sale, the insider now directly owns 6,050 shares of the company’s stock, valued at approximately $197,714. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Gregory A. Laberge sold 1,000 shares of Marcus & Millichap stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $32.68, for a total transaction of $32,680.00. Following the sale, the insider now directly owns 6,050 shares of the company’s stock, valued at approximately $197,714. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hessam Nadji sold 15,000 shares of Marcus & Millichap stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $35.27, for a total transaction of $529,050.00. Following the sale, the chief executive officer now directly owns 224,123 shares in the company, valued at $7,904,818.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,635 shares of company stock valued at $658,511. 39.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Marcus & Millichap

Hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC boosted its position in Marcus & Millichap by 109.1% during the 4th quarter. Jennison Associates LLC now owns 466,327 shares of the real estate investment trust’s stock worth $20,369,000 after buying an additional 243,281 shares during the period. Norges Bank acquired a new stake in Marcus & Millichap during the 4th quarter worth approximately $6,826,000. Schroder Investment Management Group lifted its position in shares of Marcus & Millichap by 2.4% in the 4th quarter. Schroder Investment Management Group now owns 1,099,876 shares of the real estate investment trust’s stock worth $48,043,000 after purchasing an additional 25,982 shares during the period. Tributary Capital Management LLC lifted its position in shares of Marcus & Millichap by 10.6% in the 1st quarter. Tributary Capital Management LLC now owns 658,266 shares of the real estate investment trust’s stock worth $22,493,000 after purchasing an additional 62,946 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Marcus & Millichap by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 3,841,718 shares of the real estate investment trust’s stock worth $167,806,000 after purchasing an additional 37,821 shares during the period. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc, an investment brokerage company, provides real estate 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, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.