Aigen Investment Management LP Purchases New Position in Marcus & Millichap, Inc. $MMI

Aigen Investment Management LP purchased a new stake in Marcus & Millichap, Inc. (NYSE:MMI) in the 4th quarter, HoldingsChannel reports. The firm purchased 28,017 shares of the real estate investment trust’s stock, valued at approximately $765,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MMI. AQR Capital Management LLC increased its stake in Marcus & Millichap by 42.8% during the 1st quarter. AQR Capital Management LLC now owns 13,702 shares of the real estate investment trust’s stock worth $472,000 after buying an additional 4,110 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Marcus & Millichap by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 600 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Marcus & Millichap by 12.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,339 shares of the real estate investment trust’s stock worth $2,664,000 after buying an additional 8,369 shares in the last quarter. Jane Street Group LLC increased its stake in Marcus & Millichap by 325.7% during the 1st quarter. Jane Street Group LLC now owns 43,091 shares of the real estate investment trust’s stock worth $1,484,000 after buying an additional 32,968 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Marcus & Millichap during the 1st quarter worth approximately $145,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MMI. Wall Street Zen lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings lowered Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Sell” and an average target price of $28.00.

Marcus & Millichap Price Performance

MMI stock opened at $30.18 on Monday. The business has a 50 day simple moving average of $28.46 and a 200-day simple moving average of $27.47. The firm has a market capitalization of $1.14 billion, a PE ratio of -3,014.79 and a beta of 1.25. Marcus & Millichap, Inc. has a 1 year low of $24.43 and a 1 year high of $33.62.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.08) EPS for the quarter, meeting 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 firm 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 posted ($0.11) earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis.

About Marcus & Millichap

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.