Marcus & Millichap Inc (MMI) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. lifted its position in Marcus & Millichap Inc (NYSE:MMI) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,607 shares of the real estate investment trust’s stock after acquiring an additional 6,726 shares during the period. Prudential Financial Inc. owned 0.49% of Marcus & Millichap worth $6,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Royal Bank of Canada lifted its position in Marcus & Millichap by 1,029.1% during the first quarter. Royal Bank of Canada now owns 5,160 shares of the real estate investment trust’s stock worth $186,000 after buying an additional 4,703 shares in the last quarter. Zacks Investment Management purchased a new position in Marcus & Millichap during the second quarter worth approximately $246,000. California Public Employees Retirement System purchased a new position in Marcus & Millichap during the second quarter worth approximately $246,000. WINTON GROUP Ltd purchased a new position in Marcus & Millichap during the second quarter worth approximately $295,000. Finally, Envestnet Asset Management Inc. purchased a new position in Marcus & Millichap during the second quarter worth approximately $317,000. 52.05% of the stock is currently owned by hedge funds and other institutional investors.

In other Marcus & Millichap news, Director George M. Marcus sold 20,202 shares of Marcus & Millichap stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $37.01, for a total value of $747,676.02. Following the sale, the director now owns 18,021 shares in the company, valued at $666,957.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George M. Marcus sold 50,000 shares of Marcus & Millichap stock in a transaction on Monday, November 12th. The shares were sold at an average price of $37.31, for a total value of $1,865,500.00. Following the completion of the sale, the director now owns 18,021 shares in the company, valued at approximately $672,363.51. The disclosure for this sale can be found here. Insiders sold 1,036,894 shares of company stock worth $37,357,231 in the last 90 days. Company insiders own 58.30% of the company’s stock.

Shares of Marcus & Millichap stock opened at $34.82 on Friday. Marcus & Millichap Inc has a one year low of $28.89 and a one year high of $41.45. The company has a market cap of $1.37 billion, a P/E ratio of 17.18, a P/E/G ratio of 2.94 and a beta of 1.15. The company has a current ratio of 4.67, a quick ratio of 4.67 and a debt-to-equity ratio of 0.02.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings data on Wednesday, November 7th. The real estate investment trust reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.04. Marcus & Millichap had a return on equity of 23.36% and a net margin of 8.83%. The firm had revenue of $210.60 million for the quarter, compared to the consensus estimate of $192.58 million. During the same quarter last year, the business posted $0.40 earnings per share. The firm’s revenue was up 14.9% compared to the same quarter last year. On average, research analysts predict that Marcus & Millichap Inc will post 2.01 earnings per share for the current year.

MMI has been the topic of a number of analyst reports. Zacks Investment Research downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Saturday, August 11th. ValuEngine upgraded Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Wednesday, November 7th. Finally, JMP Securities downgraded Marcus & Millichap from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $41.67.

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Marcus & Millichap Company 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.

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

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