Lord Abbett & CO. LLC Acquires Shares of 73,055 Marcus & Millichap Inc (MMI)

Lord Abbett & CO. LLC acquired a new stake in Marcus & Millichap Inc (NYSE:MMI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 73,055 shares of the real estate investment trust’s stock, valued at approximately $2,508,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MMI. Bank of New York Mellon Corp increased its position in shares of Marcus & Millichap by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 166,245 shares of the real estate investment trust’s stock worth $6,485,000 after acquiring an additional 7,987 shares in the last quarter. First Trust Advisors LP grew its holdings in Marcus & Millichap by 254.5% during the 3rd quarter. First Trust Advisors LP now owns 47,331 shares of the real estate investment trust’s stock valued at $1,643,000 after purchasing an additional 33,978 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Marcus & Millichap by 25.5% during the 3rd quarter. Victory Capital Management Inc. now owns 16,903 shares of the real estate investment trust’s stock valued at $587,000 after purchasing an additional 3,438 shares in the last quarter. American Century Companies Inc. grew its holdings in Marcus & Millichap by 76.6% during the 3rd quarter. American Century Companies Inc. now owns 87,796 shares of the real estate investment trust’s stock valued at $3,047,000 after purchasing an additional 38,076 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Marcus & Millichap by 137.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,382 shares of the real estate investment trust’s stock valued at $325,000 after purchasing an additional 5,433 shares in the last quarter. 57.49% of the stock is owned by institutional investors.

In other news, CEO Hessam Nadji sold 10,000 shares of Marcus & Millichap stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $38.62, for a total value of $386,200.00. Following the transaction, the chief executive officer now owns 271,280 shares of the company’s stock, valued at $10,476,833.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Mitchell R. Labar sold 787 shares of Marcus & Millichap stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $38.46, for a total transaction of $30,268.02. The disclosure for this sale can be found here. In the last three months, insiders sold 26,914 shares of company stock worth $1,056,297. Insiders own 50.10% of the company’s stock.

A number of analysts have issued reports on the stock. Zacks Investment Research cut shares of Marcus & Millichap from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 23rd. ValuEngine upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th.

NYSE MMI opened at $37.91 on Friday. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 3.03 and a beta of 1.25. Marcus & Millichap Inc has a 12-month low of $30.66 and a 12-month high of $41.45.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.13. Marcus & Millichap had a net margin of 10.71% and a return on equity of 23.51%. The company had revenue of $230.30 million for the quarter, compared to analyst estimates of $209.75 million. During the same quarter last year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, analysts anticipate that Marcus & Millichap Inc will post 2.15 EPS for the current fiscal year.

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Marcus & Millichap Profile

Marcus & Millichap, Inc operates as a brokerage company specializing in commercial real estate investment sales, financing, research, and advisory services. The company provides investment brokerage and financing services to investors of all sizes and types of commercial real estate properties. It serves clients with one property, multiple properties, and investment portfolios.

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

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