Principal Financial Group Inc. Reduces Stake in Marcus & Millichap, Inc. (NYSE:MMI)

Principal Financial Group Inc. cut its stake in Marcus & Millichap, Inc. (NYSE:MMIFree Report) by 10.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,686 shares of the real estate investment trust’s stock after selling 14,250 shares during the quarter. Principal Financial Group Inc. owned about 0.32% of Marcus & Millichap worth $4,226,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Hunter Perkins Capital Management LLC increased its position in Marcus & Millichap by 18.2% during the first quarter. Hunter Perkins Capital Management LLC now owns 18,525 shares of the real estate investment trust’s stock worth $633,000 after purchasing an additional 2,850 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Marcus & Millichap during the 1st quarter valued at approximately $85,000. Tributary Capital Management LLC lifted its holdings in Marcus & Millichap by 10.6% in the first quarter. Tributary Capital Management LLC now owns 658,266 shares of the real estate investment trust’s stock valued at $22,493,000 after acquiring an additional 62,946 shares during the last quarter. Chatham Capital Group Inc. lifted its holdings in Marcus & Millichap by 12.0% in the first quarter. Chatham Capital Group Inc. now owns 33,900 shares of the real estate investment trust’s stock valued at $1,158,000 after acquiring an additional 3,620 shares during the last quarter. Finally, Scharf Investments LLC grew its position in Marcus & Millichap by 18.8% in the first quarter. Scharf Investments LLC now owns 5,905 shares of the real estate investment trust’s stock worth $202,000 after acquiring an additional 933 shares during the period. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Trading Down 0.5 %

Marcus & Millichap stock opened at $31.39 on Friday. Marcus & Millichap, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $44.24. The firm has a 50 day moving average price of $32.21 and a 200 day moving average price of $34.95.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Marcus & Millichap from a “hold” rating to a “sell” rating in a report on Friday, June 28th.

Read Our Latest Stock Report on Marcus & Millichap

Insiders Place Their Bets

In other news, insider Gregory A. Laberge sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $32.68, for a total transaction of $32,680.00. Following the sale, the insider now owns 6,050 shares of the company’s stock, valued at $197,714. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO John David Parker sold 1,835 shares of Marcus & Millichap stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $35.29, for a total value of $64,757.15. Following the completion of the transaction, the chief operating officer now owns 13,373 shares in the company, valued at $471,933.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory A. Laberge sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $32.68, for a total transaction of $32,680.00. Following the transaction, the insider now owns 6,050 shares of the company’s stock, valued at approximately $197,714. The disclosure for this sale can be found here. 39.89% of the stock is owned by company insiders.

About Marcus & Millichap

(Free Report)

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.

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Institutional Ownership by Quarter for Marcus & Millichap (NYSE:MMI)

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