Marcus & Millichap (NYSE:MMI) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Marcus & Millichap (NYSE:MMI) from a sell rating to a hold rating in a report released on Wednesday.

Marcus & Millichap Price Performance

Shares of MMI stock opened at $39.87 on Wednesday. Marcus & Millichap has a 52 week low of $26.81 and a 52 week high of $44.24. The firm has a 50 day moving average of $33.08 and a two-hundred day moving average of $34.34.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.26) EPS for the quarter. Marcus & Millichap had a negative net margin of 6.16% and a negative return on equity of 5.91%. The business had revenue of $129.10 million during the quarter.

Insider Activity

In other news, CEO Hessam Nadji sold 800 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.03, for a total value of $32,024.00. Following the sale, the chief executive officer now directly owns 223,323 shares in the company, valued at approximately $8,939,619.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Hessam Nadji sold 800 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.03, for a total value of $32,024.00. Following the sale, the chief executive officer now directly owns 223,323 shares in the company, valued at approximately $8,939,619.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John David Parker sold 1,835 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $35.29, for a total transaction of $64,757.15. Following the completion of the sale, the chief operating officer now owns 13,373 shares in the company, valued at $471,933.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,635 shares of company stock worth $658,511. 39.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Marcus & Millichap

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Marcus & Millichap by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 216,244 shares of the real estate investment trust’s stock worth $6,816,000 after acquiring an additional 1,836 shares in the last quarter. LRI Investments LLC raised its stake in Marcus & Millichap by 11.0% during the 2nd quarter. LRI Investments LLC now owns 4,706 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 468 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Marcus & Millichap by 2.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the real estate investment trust’s stock worth $381,000 after acquiring an additional 300 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in Marcus & Millichap by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 21,744 shares of the real estate investment trust’s stock worth $685,000 after acquiring an additional 473 shares in the last quarter. Finally, Scharf Investments LLC raised its stake in Marcus & Millichap by 17.9% during the 2nd quarter. Scharf Investments LLC now owns 6,962 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 1,057 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.

About Marcus & Millichap

Marcus & Millichap, Inc, an investment brokerage company, provides real estate 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, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.