Reinhart Partners Inc. Has $3.38 Million Stake in Marcus & Millichap, Inc. (MMI)

Reinhart Partners Inc. increased its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,070 shares of the real estate investment trust’s stock after buying an additional 3,480 shares during the period. Reinhart Partners Inc. owned approximately 0.34% of Marcus & Millichap worth $3,376,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in Marcus & Millichap by 57.9% in the first quarter. Victory Capital Management Inc. now owns 5,123 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 1,878 shares during the last quarter. Legal & General Group Plc raised its stake in Marcus & Millichap by 1.1% in the first quarter. Legal & General Group Plc now owns 5,227 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 57 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Marcus & Millichap by 16.2% in the first quarter. Public Employees Retirement System of Ohio now owns 5,958 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 831 shares during the period. American International Group Inc. increased its position in shares of Marcus & Millichap by 7.1% in the first quarter. American International Group Inc. now owns 8,946 shares of the real estate investment trust’s stock valued at $220,000 after buying an additional 594 shares during the period. Finally, Stevens Capital Management LP increased its position in shares of Marcus & Millichap by 15.6% in the first quarter. Stevens Capital Management LP now owns 9,441 shares of the real estate investment trust’s stock valued at $232,000 after buying an additional 1,276 shares during the period. 42.44% of the stock is owned by hedge funds and other institutional investors.

Marcus & Millichap, Inc. (NYSE MMI) traded down 1.96% during mid-day trading on Friday, hitting $25.46. 185,239 shares of the company were exchanged. The stock’s 50 day moving average is $26.26 and its 200-day moving average is $25.66. The company has a market cap of $970.46 million, a price-to-earnings ratio of 16.64 and a beta of 1.55. Marcus & Millichap, Inc. has a 12-month low of $22.93 and a 12-month high of $30.31.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.07. Marcus & Millichap had a return on equity of 22.56% and a net margin of 8.51%. The firm had revenue of $180.37 million for the quarter, compared to analyst estimates of $177.40 million. During the same period last year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities research analysts predict that Marcus & Millichap, Inc. will post $1.42 EPS for the current year.

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A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday. BidaskClub downgraded shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, ValuEngine downgraded shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $27.00.

In other news, CEO Hessam Nadji sold 8,500 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $24.41, for a total transaction of $207,485.00. Following the completion of the transaction, the chief executive officer now directly owns 305,161 shares in the company, valued at $7,448,980.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 58.30% of the stock is owned by company insiders.

About Marcus & Millichap

Marcus & Millichap, Inc is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services. The Company offers three primary services to its clients: commercial real estate investment brokerage, financing, and ancillary services, including other research, advisory and consulting services.

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

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