Dynamic Technology Lab Private Ltd grew its stake in shares of Marcus & Millichap Inc (NYSE:MMI) by 43.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,181 shares of the real estate investment trust’s stock after acquiring an additional 3,391 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Marcus & Millichap were worth $388,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Aperio Group LLC lifted its holdings in Marcus & Millichap by 22.7% in the second quarter. Aperio Group LLC now owns 20,930 shares of the real estate investment trust’s stock worth $816,000 after buying an additional 3,875 shares during the period. Smith Asset Management Group LP purchased a new position in shares of Marcus & Millichap during the second quarter valued at approximately $1,378,000. Wells Fargo & Company MN lifted its holdings in shares of Marcus & Millichap by 37.5% during the second quarter. Wells Fargo & Company MN now owns 264,912 shares of the real estate investment trust’s stock valued at $10,334,000 after purchasing an additional 72,250 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Marcus & Millichap by 15.9% during the second quarter. Victory Capital Management Inc. now owns 13,465 shares of the real estate investment trust’s stock valued at $525,000 after purchasing an additional 1,847 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Marcus & Millichap by 22.9% during the second quarter. Rhumbline Advisers now owns 18,027 shares of the real estate investment trust’s stock valued at $703,000 after purchasing an additional 3,364 shares during the last quarter. Hedge funds and other institutional investors own 52.05% of the company’s stock.
In other news, Director George M. Marcus sold 150,000 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $34.93, for a total value of $5,239,500.00. Following the sale, the director now directly owns 18,021 shares in the company, valued at approximately $629,473.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George M. Marcus sold 50,000 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $34.95, for a total transaction of $1,747,500.00. Following the completion of the sale, the director now owns 18,021 shares in the company, valued at $629,833.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 900,174 shares of company stock worth $32,512,708. Corporate insiders own 50.10% of the company’s stock.
MMI stock traded down $0.31 during mid-day trading on Friday, hitting $36.59. The company had a trading volume of 167,706 shares, compared to its average volume of 239,038. The stock has a market cap of $1.41 billion, a P/E ratio of 22.59, a PEG ratio of 2.80 and a beta of 1.08. Marcus & Millichap Inc has a 12-month low of $28.89 and a 12-month high of $41.45. The company has a quick ratio of 4.67, a current ratio of 4.67 and a debt-to-equity ratio of 0.02.
Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Wednesday, November 7th. The real estate investment trust reported $0.53 EPS for the quarter, topping the consensus estimate of $0.49 by $0.04. The business had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $192.58 million. Marcus & Millichap had a net margin of 8.83% and a return on equity of 23.36%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. On average, analysts anticipate that Marcus & Millichap Inc will post 2.06 EPS for the current fiscal year.
Several research firms have recently issued reports on MMI. Zacks Investment Research upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Tuesday, November 13th. ValuEngine raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Wednesday, November 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus 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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