Trade Report: The Prudential Financial Inc. invests in 3,390 by purchasing Marcus & Millichap Inc. (MMI) shares

The Prudential Financial Inc. invests in 3,390 by purchasing Marcus & Millichap Inc. (MMI) shares

Prudential Financial Inc. increased its position in Marcus & Millichap Inc. (NYSE:MMI) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 208,320 shares of the real estate investment trust’s stock after buying an additional 3,390 shares during the period. Prudential Financial Inc. owned approximately 0.55% of Marcus & Millichap worth $5,294,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MMI. Royce & Associates LP raised its stake in Marcus & Millichap by 48.0% in the second quarter. Royce & Associates LP now owns 2,365,410 shares of the real estate investment trust’s stock worth $60,105,000 after buying an additional 767,478 shares in the last quarter. New Amsterdam Partners LLC NY purchased a new position in shares of Marcus & Millichap during the second quarter worth approximately $4,617,000. Oxford Asset Management increased its position in shares of Marcus & Millichap by 392.2% in the second quarter. Oxford Asset Management now owns 151,296 shares of the real estate investment trust’s stock worth $3,844,000 after buying an additional 120,557 shares during the last quarter. Kennedy Capital Management Inc. increased its position in shares of Marcus & Millichap by 37.0% in the first quarter. Kennedy Capital Management Inc. now owns 251,783 shares of the real estate investment trust’s stock worth $6,393,000 after buying an additional 67,975 shares during the last quarter. Finally, Spark Investment Management LLC increased its position in shares of Marcus & Millichap by 69.0% in the first quarter. Spark Investment Management LLC now owns 135,500 shares of the real estate investment trust’s stock worth $3,440,000 after buying an additional 55,300 shares during the last quarter. 35.28% of the stock is currently owned by institutional investors and hedge funds.

Marcus & Millichap Inc. (NYSE:MMI) opened at 23.59 on Friday. Marcus & Millichap Inc. has a 1-year low of $18.77 and a 1-year high of $49.97. The firm has a 50-day moving average of $25.48 and a 200 day moving average of $25.76. The firm has a market cap of $887.15 million, a P/E ratio of 13.72 and a beta of 1.46.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.06. The company had revenue of $183.38 million for the quarter, compared to analyst estimates of $171.25 million. Marcus & Millichap had a net margin of 9.41% and a return on equity of 34.19%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that Marcus & Millichap Inc. will post $1.75 EPS for the current year.

Separately, Zacks Investment Research downgraded shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $37.50.

In other news, CEO Hessam Nadji sold 4,500 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $28.65, for a total value of $128,925.00. Following the transaction, the chief executive officer now owns 361,271 shares of the company’s stock, valued at approximately $10,350,414.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP William E. Hughes sold 5,000 shares of the firm’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $26.17, for a total transaction of $130,850.00. The disclosure for this sale can be found here. 61.80% of the stock is currently owned by company insiders.

About Marcus & Millichap

Marcus & Millichap, Inc is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. The Company also offers market research, consulting and advisory services to its clients. It also offers two services to its clients, such as commercial real estate investment brokerage, and financing and ancillary services.

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