Pzena Investment Management LLC Increases Position in Marcus & Millichap, Inc. (NYSE:MMI)

Pzena Investment Management LLC increased its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 3.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,835 shares of the real estate investment trust’s stock after purchasing an additional 10,529 shares during the quarter. Pzena Investment Management LLC owned 0.75% of Marcus & Millichap worth $9,869,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in Marcus & Millichap by 21.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,910 shares of the real estate investment trust’s stock valued at $612,000 after acquiring an additional 3,210 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Marcus & Millichap by 27.5% during the 1st quarter. BNP Paribas Financial Markets now owns 14,382 shares of the real estate investment trust’s stock valued at $491,000 after acquiring an additional 3,101 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Marcus & Millichap during the 1st quarter valued at about $85,000. Hunter Perkins Capital Management LLC boosted its stake in shares of Marcus & Millichap by 18.2% during the 1st quarter. Hunter Perkins Capital Management LLC now owns 18,525 shares of the real estate investment trust’s stock worth $633,000 after purchasing an additional 2,850 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its stake in shares of Marcus & Millichap by 10.6% during the 1st quarter. Tributary Capital Management LLC now owns 658,266 shares of the real estate investment trust’s stock worth $22,493,000 after purchasing an additional 62,946 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Trading Up 1.0 %

Shares of Marcus & Millichap stock traded up $0.31 during mid-day trading on Wednesday, hitting $32.05. 68,230 shares of the stock were exchanged, compared to its average volume of 148,130. Marcus & Millichap, Inc. has a twelve month low of $26.81 and a twelve month high of $44.24. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -32.05 and a beta of 1.12. The company has a 50-day simple moving average of $32.20 and a 200 day simple moving average of $34.71.

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

Insider Buying and Selling

In other Marcus & Millichap news, insider Gregory A. Laberge sold 1,000 shares of Marcus & Millichap stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $32.68, for a total transaction of $32,680.00. Following the transaction, the insider now directly owns 6,050 shares of the company’s stock, valued at $197,714. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, COO John David Parker sold 1,835 shares of Marcus & Millichap stock in a transaction that occurred 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 sale, the chief operating officer now owns 13,373 shares in the company, valued at $471,933.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory A. Laberge sold 1,000 shares of Marcus & Millichap stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $32.68, for a total transaction of $32,680.00. Following the sale, the insider now owns 6,050 shares in the company, valued at approximately $197,714. The disclosure for this sale can be found here. Corporate insiders own 39.89% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Friday, June 28th.

Marcus & Millichap Profile

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.