Paloma Partners Management Co Purchases Shares of 53,000 Marcus & Millichap Inc (NYSE:MMI)

Paloma Partners Management Co purchased a new position in shares of Marcus & Millichap Inc (NYSE:MMI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 53,000 shares of the real estate investment trust’s stock, valued at approximately $1,728,000. Paloma Partners Management Co owned 0.14% of Marcus & Millichap at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MMI. Advisor Group Inc. lifted its holdings in shares of Marcus & Millichap by 98.1% during the fourth quarter. Advisor Group Inc. now owns 3,368 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 1,668 shares during the period. US Bancorp DE lifted its holdings in shares of Marcus & Millichap by 198.3% during the fourth quarter. US Bancorp DE now owns 6,484 shares of the real estate investment trust’s stock worth $212,000 after purchasing an additional 4,310 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Marcus & Millichap by 39.5% during the third quarter. Victory Capital Management Inc. now owns 8,407 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 2,380 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Marcus & Millichap during the second quarter worth $249,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Marcus & Millichap during the third quarter worth $264,000. 44.97% of the stock is owned by hedge funds and other institutional investors.

How to Become a New Pot Stock Millionaire

Several brokerages recently weighed in on MMI. Wells Fargo set a $37.00 price target on Marcus & Millichap and gave the stock a “hold” rating in a report on Wednesday, March 21st. Zacks Investment Research raised Marcus & Millichap from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday, March 14th. ValuEngine raised Marcus & Millichap from a “hold” rating to a “buy” rating in a report on Saturday, March 10th. William Blair reissued a “market perform” rating on shares of Marcus & Millichap in a report on Thursday, February 1st. Finally, JMP Securities raised Marcus & Millichap from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $38.50.

Marcus & Millichap stock opened at $34.73 on Friday. Marcus & Millichap Inc has a one year low of $23.40 and a one year high of $36.70. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.85 and a quick ratio of 3.85. The firm has a market capitalization of $1,365.82, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Thursday, March 8th. The real estate investment trust reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12. Marcus & Millichap had a return on equity of 21.35% and a net margin of 7.16%. The company had revenue of $202.80 million during the quarter, compared to the consensus estimate of $189.10 million. During the same quarter last year, the company earned $0.44 earnings per share. Marcus & Millichap’s quarterly revenue was up 7.2% compared to the same quarter last year. analysts predict that Marcus & Millichap Inc will post 1.93 earnings per share for the current year.

In other news, Director George M. Marcus sold 28,015 shares of Marcus & Millichap stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $35.88, for a total transaction of $1,005,178.20. Following the completion of the transaction, the director now owns 15,879 shares of the company’s stock, valued at approximately $569,738.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George M. Marcus sold 47,639 shares of Marcus & Millichap stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $36.13, for a total value of $1,721,197.07. Following the transaction, the director now directly owns 15,879 shares of the company’s stock, valued at approximately $573,708.27. The disclosure for this sale can be found here. Insiders have sold a total of 679,569 shares of company stock valued at $24,301,869 in the last ninety days. Corporate insiders own 58.30% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another site, it was stolen and republished in violation of U.S. & international copyright legislation. The legal version of this story can be read at https://www.dispatchtribunal.com/2018/04/07/paloma-partners-management-co-invests-1-73-million-in-marcus-millichap-inc-mmi-stock.html.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc, a brokerage firm, provides investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.

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

Receive News & Ratings for Marcus & Millichap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marcus & Millichap and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply