Tudor Investment Corp ET AL Purchases 23,885 Shares of Marcus & Millichap, Inc. $MMI
by Sarita Garza · The Markets DailyTudor Investment Corp ET AL lifted its position in shares of Marcus & Millichap, Inc. (NYSE:MMI – Free Report) by 35.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,830 shares of the real estate investment trust’s stock after purchasing an additional 23,885 shares during the quarter. Tudor Investment Corp ET AL owned 0.23% of Marcus & Millichap worth $2,666,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in Marcus & Millichap by 42.8% during the first quarter. AQR Capital Management LLC now owns 13,702 shares of the real estate investment trust’s stock worth $472,000 after acquiring an additional 4,110 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Marcus & Millichap by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of 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 valued at $2,664,000 after purchasing an additional 8,369 shares in the last quarter. Jane Street Group LLC grew its position in shares of Marcus & Millichap by 325.7% in the 1st quarter. Jane Street Group LLC now owns 43,091 shares of the real estate investment trust’s stock valued at $1,484,000 after purchasing an additional 32,968 shares during the period. Finally, Strs Ohio bought a new stake in Marcus & Millichap during the 1st quarter worth approximately $145,000. Institutional investors own 62.78% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on MMI shares. Wells Fargo & Company reduced their price target on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a report on Monday, February 2nd. Wall Street Zen upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marcus & Millichap in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Sell” and an average price target of $28.00.
Read Our Latest Research Report on MMI
Insider Buying and Selling
In related news, CEO Hessam Nadji sold 1,300 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $25.60, for a total transaction of $33,280.00. Following the completion of the transaction, the chief executive officer directly owned 480 shares of the company’s stock, valued at approximately $12,288. This represents a 73.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 39.20% of the company’s stock.
Marcus & Millichap Stock Down 1.2%
NYSE MMI opened at $25.75 on Friday. The firm’s 50 day moving average is $26.20 and its 200-day moving average is $28.06. The company has a market capitalization of $980.34 million, a PE ratio of -643.61 and a beta of 1.32. Marcus & Millichap, Inc. has a 12-month low of $24.43 and a 12-month high of $35.64.
Marcus & Millichap (NYSE:MMI – Get Free Report) last issued its quarterly earnings results on Friday, February 13th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.12. Marcus & Millichap had a negative net margin of 0.25% and a positive return on equity of 0.20%. The firm had revenue of $243.95 million for the quarter, compared to analyst estimates of $229.45 million.
Marcus & Millichap Dividend Announcement
The business also recently announced a dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 13th will be issued a dividend of $0.25 per share. This represents a yield of 196.0%. The ex-dividend date is Friday, March 13th. Marcus & Millichap’s dividend payout ratio is presently -1,250.00%.
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.
See Also
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