State Board of Administration of Florida Retirement System Has $1.97 Million Stock Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

State Board of Administration of Florida Retirement System trimmed its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 14.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,755 shares of the real estate investment trust’s stock after selling 8,668 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.13% of Marcus & Millichap worth $1,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Captrust Financial Advisors boosted its stake in Marcus & Millichap by 4,128.9% in the 1st quarter. Captrust Financial Advisors now owns 1,903 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 1,858 shares during the period. Ensign Peak Advisors Inc acquired a new position in shares of Marcus & Millichap during the 1st quarter worth about $74,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Marcus & Millichap during the 2nd quarter worth about $212,000. GSA Capital Partners LLP acquired a new position in shares of Marcus & Millichap during the 1st quarter worth about $202,000. Finally, Dupont Capital Management Corp acquired a new position in shares of Marcus & Millichap during the 2nd quarter worth about $295,000. 58.94% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE MMI opened at $39.79 on Friday. Marcus & Millichap, Inc. has a twelve month low of $26.06 and a twelve month high of $41.51. The firm has a fifty day simple moving average of $39.08 and a 200 day simple moving average of $37.62. The company has a market capitalization of $1.57 billion, a PE ratio of 21.05 and a beta of 0.86.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Friday, August 6th. The real estate investment trust reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.38. The business had revenue of $284.90 million for the quarter, compared to analysts’ expectations of $216.90 million. Marcus & Millichap had a net margin of 8.68% and a return on equity of 13.69%. The firm’s revenue for the quarter was up 142.7% on a year-over-year basis.

MMI has been the topic of a number of research analyst reports. TheStreet raised shares of Marcus & Millichap from a “c” rating to a “b-” rating in a report on Friday, August 6th. Zacks Investment Research lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Thursday, July 8th.

In related news, COO John David Parker sold 2,498 shares of the company’s stock in a transaction that occurred on Friday, August 13th. The shares were sold at an average price of $40.00, for a total transaction of $99,920.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Richard D. Matricaria sold 2,739 shares of the business’s stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $39.74, for a total transaction of $108,847.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,595 shares of company stock worth $461,943. Corporate insiders own 40.60% of the company’s stock.

About Marcus & Millichap

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.

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

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