Marcus & Millichap, Inc. (MMI) Shares Sold by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC cut its position in Marcus & Millichap, Inc. (NYSE:MMI) by 15.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,322 shares of the real estate investment trust’s stock after selling 14,702 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.22% of Marcus & Millichap worth $2,196,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. grew its stake in Marcus & Millichap by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 51,379 shares of the real estate investment trust’s stock valued at $1,355,000 after buying an additional 285 shares during the last quarter. Vivaldi Asset Management LLC grew its stake in Marcus & Millichap by 3,527.7% in the 2nd quarter. Vivaldi Asset Management LLC now owns 363,316 shares of the real estate investment trust’s stock valued at $9,577,000 after buying an additional 353,301 shares during the last quarter. Jennison Associates LLC grew its stake in Marcus & Millichap by 1.7% in the 2nd quarter. Jennison Associates LLC now owns 296,327 shares of the real estate investment trust’s stock valued at $7,811,000 after buying an additional 4,850 shares during the last quarter. Sprott Inc. grew its stake in Marcus & Millichap by 22.2% in the 2nd quarter. Sprott Inc. now owns 110,000 shares of the real estate investment trust’s stock valued at $2,900,000 after buying an additional 20,000 shares during the last quarter. Finally, Swiss National Bank grew its stake in Marcus & Millichap by 19.0% in the 2nd quarter. Swiss National Bank now owns 28,200 shares of the real estate investment trust’s stock valued at $743,000 after buying an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 42.06% of the company’s stock.

A number of research firms recently issued reports on MMI. BidaskClub lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Zacks Investment Research upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $27.00.

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Marcus & Millichap, Inc. (MMI) opened at 27.90 on Tuesday. The company has a 50-day moving average of $26.67 and a 200-day moving average of $25.91. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 18.24 and a beta of 1.55. Marcus & Millichap, Inc. has a 1-year low of $22.93 and a 1-year high of $30.31.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.07. Marcus & Millichap had a net margin of 8.51% and a return on equity of 22.56%. The firm had revenue of $180.37 million for the quarter, compared to analyst estimates of $177.40 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict that Marcus & Millichap, Inc. will post $1.43 earnings per share for the current year.

In other Marcus & Millichap news, SVP William E. Hughes sold 5,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $26.34, for a total value of $131,700.00. Following the transaction, the senior vice president now directly owns 40,540 shares in the company, valued at $1,067,823.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William E. Hughes sold 6,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $26.99, for a total transaction of $161,940.00. Following the completion of the transaction, the senior vice president now owns 40,540 shares in the company, valued at $1,094,174.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,199 shares of company stock worth $523,190. Corporate insiders own 58.30% of the company’s stock.

Marcus & Millichap Profile

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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