Marcus & Millichap, Inc. (NYSE:MMI) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 6.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 369,112 shares of the real estate investment trust’s stock after selling 26,173 shares during the quarter. Wellington Management Group LLP’s holdings in Marcus & Millichap were worth $14,122,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in Marcus & Millichap by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 597,338 shares of the real estate investment trust’s stock valued at $22,859,000 after purchasing an additional 2,193 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Marcus & Millichap by 4.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 403,560 shares of the real estate investment trust’s stock valued at $15,440,000 after purchasing an additional 18,785 shares during the last quarter. Jennison Associates LLC raised its position in shares of Marcus & Millichap by 21.1% in the fourth quarter. Jennison Associates LLC now owns 264,435 shares of the real estate investment trust’s stock valued at $10,117,000 after buying an additional 46,154 shares during the last quarter. Northern Trust Corp raised its position in shares of Marcus & Millichap by 1.2% in the fourth quarter. Northern Trust Corp now owns 248,750 shares of the real estate investment trust’s stock valued at $9,517,000 after buying an additional 2,858 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Marcus & Millichap by 61.5% in the fourth quarter. JPMorgan Chase & Co. now owns 123,089 shares of the real estate investment trust’s stock valued at $4,709,000 after buying an additional 46,865 shares during the last quarter. Institutional investors and hedge funds own 62.78% of the company’s stock.

Insider Activity at Marcus & Millichap

In other Marcus & Millichap news, insider Gregory A. Laberge sold 2,915 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $34.78, for a total value of $101,383.70. Following the completion of the sale, the insider now directly owns 2,307 shares of the company’s stock, valued at $80,237.46. This trade represents a 55.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 39.20% of the company’s stock.

Marcus & Millichap Stock Up 1.2%

Shares of NYSE MMI opened at $28.87 on Monday. The firm has a 50-day simple moving average of $30.73 and a 200-day simple moving average of $35.53. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -90.22 and a beta of 1.24. Marcus & Millichap, Inc. has a 52 week low of $27.61 and a 52 week high of $42.80.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. The company had revenue of $145.04 million during the quarter, compared to the consensus estimate of $140.20 million. Marcus & Millichap had a negative net margin of 1.78% and a negative return on equity of 1.98%.

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.