Marcus & Millichap, Inc. (NYSE:MMI) Stake Raised by Reinhart Partners LLC.

Reinhart Partners LLC. boosted its holdings in Marcus & Millichap, Inc. (NYSE:MMI) by 13.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,162,935 shares of the real estate investment trust’s stock after acquiring an additional 253,444 shares during the quarter. Marcus & Millichap comprises about 2.7% of Reinhart Partners LLC.’s investment portfolio, making the stock its 15th biggest holding. Reinhart Partners LLC. owned 0.06% of Marcus & Millichap worth $74,513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MMI. Barclays PLC raised its position in Marcus & Millichap by 104.7% in the third quarter. Barclays PLC now owns 60,379 shares of the real estate investment trust’s stock worth $2,393,000 after acquiring an additional 30,884 shares in the last quarter. Rhumbline Advisers raised its position in Marcus & Millichap by 2.5% in the fourth quarter. Rhumbline Advisers now owns 73,033 shares of the real estate investment trust’s stock worth $2,794,000 after acquiring an additional 1,805 shares in the last quarter. Principal Financial Group Inc. raised its position in Marcus & Millichap by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 116,694 shares of the real estate investment trust’s stock worth $4,465,000 after acquiring an additional 3,562 shares in the last quarter. Handelsbanken Fonder AB raised its position in Marcus & Millichap by 11.6% in the fourth quarter. Handelsbanken Fonder AB now owns 8,666 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 900 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Marcus & Millichap by 12.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 9,686 shares of the real estate investment trust’s stock worth $371,000 after acquiring an additional 1,035 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Gregory A. Laberge sold 2,915 shares of Marcus & Millichap stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $34.78, for a total value of $101,383.70. Following the transaction, the insider now owns 2,307 shares of the company’s stock, valued at approximately $80,237.46. This trade represents a 55.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 39.20% of the stock is currently owned by company insiders.

Marcus & Millichap Trading Down 0.7%

Shares of Marcus & Millichap stock opened at $29.67 on Friday. The company’s 50-day moving average price is $30.18 and its two-hundred day moving average price is $35.22. The stock has a market cap of $1.16 billion, a PE ratio of -92.70 and a beta of 1.22. Marcus & Millichap, Inc. has a 52 week low of $27.61 and a 52 week high of $42.80.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The firm had revenue of $145.04 million for the quarter, compared to analysts’ expectations of $140.20 million. Marcus & Millichap had a negative return on equity of 1.98% and a negative net margin of 1.78%.

Marcus & Millichap Company Profile

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.