Marcus & Millichap (NYSE:MMI) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Marcus & Millichap (NYSE:MMI) from a sell rating to a hold rating in a research report released on Wednesday.

Marcus & Millichap Trading Up 1.1 %

NYSE MMI opened at $39.87 on Wednesday. Marcus & Millichap has a 12 month low of $26.81 and a 12 month high of $44.24. The company’s fifty day moving average price is $33.08 and its two-hundred day moving average price is $34.34.

Marcus & Millichap (NYSE:MMI) last issued its earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.26) earnings per share for the quarter. The business had revenue of $129.10 million for the quarter. Marcus & Millichap had a negative return on equity of 5.91% and a negative net margin of 6.16%.

Insiders Place Their Bets

In other Marcus & Millichap news, COO John David Parker sold 1,835 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $35.29, for a total transaction of $64,757.15. Following the sale, the chief operating officer now directly owns 13,373 shares of the company’s stock, valued at $471,933.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marcus & Millichap news, COO John David Parker sold 1,835 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $35.29, for a total transaction of $64,757.15. Following the sale, the chief operating officer now directly owns 13,373 shares of the company’s stock, valued at $471,933.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hessam Nadji sold 15,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $35.27, for a total transaction of $529,050.00. Following the sale, the chief executive officer now directly owns 224,123 shares in the company, valued at $7,904,818.21. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,635 shares of company stock valued at $658,511. Company insiders own 39.20% of the company’s stock.

Institutional Trading of Marcus & Millichap

A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of Marcus & Millichap by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 216,244 shares of the real estate investment trust’s stock worth $6,816,000 after acquiring an additional 1,836 shares during the period. LRI Investments LLC increased its holdings in shares of Marcus & Millichap by 11.0% in the 2nd quarter. LRI Investments LLC now owns 4,706 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 468 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Marcus & Millichap by 2.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the real estate investment trust’s stock worth $381,000 after acquiring an additional 300 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Marcus & Millichap by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 21,744 shares of the real estate investment trust’s stock worth $685,000 after acquiring an additional 473 shares during the period. Finally, Scharf Investments LLC increased its holdings in shares of Marcus & Millichap by 17.9% in the 2nd quarter. Scharf Investments LLC now owns 6,962 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 1,057 shares during the period. Institutional investors and hedge funds own 62.78% of the company’s stock.

About Marcus & Millichap

Marcus & Millichap, Inc, an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.