AlphaQuest LLC Increases Position in Marcus & Millichap, Inc. $MMI

AlphaQuest LLC raised its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 301.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 46,764 shares of the real estate investment trust’s stock after buying an additional 35,115 shares during the period. AlphaQuest LLC’s holdings in Marcus & Millichap were worth $1,276,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. LRI Investments LLC grew its holdings in Marcus & Millichap by 316.2% in the 3rd quarter. LRI Investments LLC now owns 3,484 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 2,647 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Marcus & Millichap in the 2nd quarter valued at $137,000. Strs Ohio purchased a new stake in Marcus & Millichap in the 1st quarter valued at $145,000. Tower Research Capital LLC TRC grew its holdings in Marcus & Millichap by 769.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,286 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 4,678 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Marcus & Millichap by 17.5% in the 3rd quarter. SG Americas Securities LLC now owns 6,263 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 931 shares in the last quarter. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

Marcus & Millichap Stock Performance

NYSE:MMI opened at $28.45 on Friday. The stock has a market capitalization of $1.08 billion, a P/E ratio of -2,842.26 and a beta of 1.25. The company has a 50 day moving average price of $27.61 and a 200 day moving average price of $27.43. Marcus & Millichap, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $33.62.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). Marcus & Millichap had a positive return on equity of 0.43% and a negative net margin of 0.08%.The company had revenue of $171.47 million for the quarter, compared to analysts’ expectations of $162.20 million. During the same period in the prior year, the firm earned ($0.11) earnings per share. The firm’s revenue was up 18.3% compared to the same quarter last year.

Analyst Ratings Changes

Several analysts have issued reports on MMI shares. Wall Street Zen cut Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings cut shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company dropped their price target on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Marcus & Millichap has a consensus rating of “Sell” and an average target price of $28.00.

Insiders Place Their Bets

In other Marcus & Millichap news, CEO Hessam Nadji sold 1,300 shares of Marcus & Millichap stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $25.60, for a total value of $33,280.00. Following the completion of the transaction, the chief executive officer directly owned 480 shares of the company’s stock, valued at $12,288. The trade was a 73.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 39.20% of the stock is currently owned by corporate insiders.

Marcus & Millichap Profile

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.