Harbor Capital Advisors Inc. Sells 133,541 Shares of Marcus & Millichap, Inc. $MMI

Harbor Capital Advisors Inc. decreased its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 72.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 52,016 shares of the real estate investment trust’s stock after selling 133,541 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Marcus & Millichap were worth $1,527,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. AlphaQuest LLC lifted its position in Marcus & Millichap by 410.6% during the first quarter. AlphaQuest LLC now owns 2,931 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 2,357 shares during the last quarter. Strs Ohio acquired a new stake in Marcus & Millichap during the 1st quarter worth approximately $145,000. Quantbot Technologies LP bought a new stake in Marcus & Millichap in the 2nd quarter valued at $137,000. Tower Research Capital LLC TRC grew its holdings in Marcus & Millichap by 769.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,286 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 4,678 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in Marcus & Millichap by 16.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,606 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 790 shares in the last quarter. 62.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Marcus & Millichap in a research report on Monday. Wall Street Zen upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Finally, Wells Fargo & Company dropped their price target on shares of Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating for the company in a research report on Friday, October 24th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $29.00.

Marcus & Millichap Stock Down 1.0%

Shares of Marcus & Millichap stock opened at $27.55 on Friday. Marcus & Millichap, Inc. has a 12-month low of $27.10 and a 12-month high of $41.94. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -172.19 and a beta of 1.32. The firm’s 50-day moving average price is $29.10 and its two-hundred day moving average price is $30.28.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Friday, November 7th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. The company had revenue of $193.89 million during the quarter, compared to the consensus estimate of $183.10 million. Marcus & Millichap had a negative net margin of 0.89% and a negative return on equity of 0.58%.

Marcus & Millichap Profile

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.