Pzena Investment Management LLC Raises Holdings in Marcus & Millichap, Inc. $MMI

Pzena Investment Management LLC raised its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 227.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,012,763 shares of the real estate investment trust’s stock after buying an additional 1,398,441 shares during the period. Pzena Investment Management LLC owned about 5.29% of Marcus & Millichap worth $53,519,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Kestra Advisory Services LLC bought a new stake in shares of Marcus & Millichap during the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Marcus & Millichap by 79,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,598 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,596 shares during the period. Quantbot Technologies LP bought a new stake in shares of Marcus & Millichap during the 2nd quarter valued at $137,000. Strs Ohio bought a new position in shares of Marcus & Millichap during the 1st quarter valued at approximately $145,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Marcus & Millichap by 769.4% during 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. Institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Stock Performance

NYSE MMI opened at $31.79 on Thursday. Marcus & Millichap, Inc. has a 52-week low of $24.43 and a 52-week high of $33.62. The firm’s 50 day moving average price is $29.31 and its 200-day moving average price is $27.56. The company has a market cap of $1.20 billion, a PE ratio of -3,175.72 and a beta of 1.23.

Marcus & Millichap (NYSE:MMI) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). Marcus & Millichap had a positive return on equity of 0.43% and a negative net margin of 0.08%.The company had revenue of $171.47 million for the quarter, compared to analyst estimates of $162.20 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year.

Analyst Ratings Changes

Several analysts recently issued reports on MMI shares. Weiss Ratings downgraded Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus price target of $28.00.

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.