24,029 Shares in Marcus & Millichap, Inc. (NYSE:MMI) Acquired by HRT Financial LP

Posted by Defense World Staff on Jun 2nd, 2023

HRT Financial LP purchased a new position in shares of Marcus & Millichap, Inc. (NYSE:MMI – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,029 shares of the real estate investment trust’s stock, valued at approximately $827,000. HRT Financial LP owned about 0.06% of Marcus & Millichap as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MMI. Asset Management One Co. Ltd. bought a new stake in Marcus & Millichap during the 4th quarter valued at $25,000. Point72 Hong Kong Ltd purchased a new position in shares of Marcus & Millichap in the 2nd quarter valued at $58,000. Captrust Financial Advisors increased its holdings in shares of Marcus & Millichap by 23.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,825 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 342 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Marcus & Millichap by 78.7% in the 3rd quarter. Lazard Asset Management LLC now owns 3,145 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 1,385 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Marcus & Millichap by 46.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,243 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 1,033 shares during the period. 61.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MMI shares. StockNews.com started coverage on Marcus & Millichap in a report on Thursday, May 18th. They issued a “hold” rating on the stock. TheStreet downgraded Marcus & Millichap from a “b-” rating to a “c+” rating in a report on Monday, April 24th.

Insiders Place Their Bets

In other news, COO John David Parker sold 4,974 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $30.96, for a total value of $153,995.04. Following the completion of the transaction, the chief operating officer now owns 5,932 shares of the company’s stock, valued at approximately $183,654.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 39.20% of the stock is currently owned by insiders.

Marcus & Millichap Price Performance

Shares of MMI stock opened at $29.73 on Friday. Marcus & Millichap, Inc. has a 1-year low of $27.49 and a 1-year high of $41.51. The stock’s fifty day moving average price is $30.45 and its 200 day moving average price is $33.68. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 18.35 and a beta of 1.04.

Marcus & Millichap (NYSE:MMI – Get Rating) last announced its earnings results on Friday, May 5th. The real estate investment trust reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.38). Marcus & Millichap had a return on equity of 9.25% and a net margin of 5.77%. The business had revenue of $154.79 million for the quarter. During the same quarter last year, the business posted $0.81 EPS.

Marcus & Millichap declared that its board has authorized a share repurchase program on Thursday, May 4th that allows the company to repurchase $70.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Marcus & Millichap Company Profile

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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.