Marcus & Millichap, Inc. $MMI Shares Bought by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL raised its position in Marcus & Millichap, Inc. (NYSE:MMI) by 35.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 90,830 shares of the real estate investment trust’s stock after acquiring an additional 23,885 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Marcus & Millichap were worth $2,666,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Tributary Capital Management LLC increased its stake in shares of Marcus & Millichap by 92.4% in the third quarter. Tributary Capital Management LLC now owns 1,339,094 shares of the real estate investment trust’s stock valued at $39,302,000 after purchasing an additional 643,277 shares during the period. Pzena Investment Management LLC increased its stake in shares of Marcus & Millichap by 2.8% in the third quarter. Pzena Investment Management LLC now owns 631,330 shares of the real estate investment trust’s stock valued at $18,530,000 after purchasing an additional 16,920 shares during the period. Deprince Race & Zollo Inc. increased its stake in shares of Marcus & Millichap by 4.8% in the third quarter. Deprince Race & Zollo Inc. now owns 233,138 shares of the real estate investment trust’s stock valued at $6,843,000 after purchasing an additional 10,766 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Marcus & Millichap by 7.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 206,246 shares of the real estate investment trust’s stock valued at $6,053,000 after purchasing an additional 13,496 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Marcus & Millichap by 9.1% in the third quarter. Russell Investments Group Ltd. now owns 183,430 shares of the real estate investment trust’s stock valued at $5,384,000 after purchasing an additional 15,287 shares during the period. Institutional investors and hedge funds own 62.78% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Hessam Nadji sold 1,300 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $25.60, for a total transaction of $33,280.00. Following the completion of the sale, the chief executive officer directly owned 480 shares in the company, valued at approximately $12,288. This trade represents a 73.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 39.20% of the company’s stock.

Marcus & Millichap Stock Performance

Shares of NYSE:MMI opened at $26.15 on Friday. The stock has a market capitalization of $995.53 million, a price-to-earnings ratio of -653.59 and a beta of 1.31. Marcus & Millichap, Inc. has a 1-year low of $24.43 and a 1-year high of $33.62. The company has a 50 day moving average price of $26.10 and a 200 day moving average price of $27.65.

Marcus & Millichap (NYSE:MMI) last issued its earnings results on Friday, February 13th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. The firm had revenue of $243.95 million during the quarter, compared to analysts’ expectations of $229.45 million. Marcus & Millichap had a negative net margin of 0.25% and a positive return on equity of 0.20%.

Marcus & Millichap Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, April 3rd. Investors of record on Friday, March 13th were issued a dividend of $0.25 per share. This represents a yield of 196.0%. The ex-dividend date was Friday, March 13th. Marcus & Millichap’s dividend payout ratio (DPR) is presently -1,250.00%.

Analysts Set New Price Targets

Several equities research analysts have commented on MMI shares. Wells Fargo & Company dropped their price target on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating on the stock in a research note on Monday, February 2nd. Wall Street Zen upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Marcus & Millichap in a research note on Friday, March 27th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus price target of $28.00.

Marcus & Millichap Company 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.