39,117 Marcus & Millichap, Inc. $MMI Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC trimmed its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 1.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,101,884 shares of the real estate investment trust’s stock after selling 39,117 shares during the period. Pzena Investment Management LLC owned approximately 0.06% of Marcus & Millichap worth $59,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. State of Wyoming grew its holdings in Marcus & Millichap by 176.0% during the third quarter. State of Wyoming now owns 6,801 shares of the real estate investment trust’s stock valued at $193,000 after purchasing an additional 4,337 shares during the period. Inspire Investing LLC lifted its position in shares of Marcus & Millichap by 3.1% during the 3rd quarter. Inspire Investing LLC now owns 22,455 shares of the real estate investment trust’s stock valued at $639,000 after buying an additional 675 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Marcus & Millichap by 283.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,898 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 5,100 shares in the last quarter. Commonwealth Financial Services LLC bought a new position in shares of Marcus & Millichap during the 3rd quarter valued at approximately $290,000. Finally, SteelPeak Wealth LLC bought a new position in shares of Marcus & Millichap during the 3rd quarter valued at approximately $275,000. 62.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on MMI shares. Weiss Ratings upgraded shares of Marcus & Millichap from a “sell (d)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Wall Street Zen lowered shares of Marcus & Millichap from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $28.00.

Marcus & Millichap Stock Up 3.9%

NYSE MMI opened at $29.52 on Thursday. The business has a 50-day moving average price of $29.49 and a 200-day moving average price of $28.77. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 79.77 and a beta of 1.25. Marcus & Millichap, Inc. has a twelve month low of $24.43 and a twelve month high of $33.55.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.07. The business had revenue of $202.91 million during the quarter, compared to the consensus estimate of $194.30 million. Marcus & Millichap had a return on equity of 2.97% and a net margin of 1.77%.

About Marcus & Millichap

Marcus & Millichap, Inc is a commercial real estate brokerage company that specializes in investment sales, financing and advisory services. The company serves owners and investors in a range of property sectors, including multifamily, office, retail, industrial, self-storage, hospitality and land.

Through its brokerage professionals and investment banking platform, Marcus & Millichap helps clients market and acquire commercial properties, arrange financing and evaluate real estate investment opportunities.