Northern Trust Corp Buys 2,858 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Northern Trust Corp grew its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 248,750 shares of the real estate investment trust’s stock after acquiring an additional 2,858 shares during the quarter. Northern Trust Corp owned 0.64% of Marcus & Millichap worth $9,517,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Marcus & Millichap by 104.7% in the third quarter. Barclays PLC now owns 60,379 shares of the real estate investment trust’s stock worth $2,393,000 after purchasing an additional 30,884 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Marcus & Millichap by 10.4% in the third quarter. Franklin Resources Inc. now owns 15,753 shares of the real estate investment trust’s stock worth $580,000 after purchasing an additional 1,478 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Marcus & Millichap by 14.6% in the third quarter. JPMorgan Chase & Co. now owns 76,224 shares of the real estate investment trust’s stock worth $3,021,000 after purchasing an additional 9,722 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Marcus & Millichap by 28.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 30,108 shares of the real estate investment trust’s stock worth $1,152,000 after purchasing an additional 6,687 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of Marcus & Millichap in the fourth quarter worth $66,000. 62.78% of the stock is owned by institutional investors.

Marcus & Millichap Price Performance

MMI stock opened at $29.74 on Friday. Marcus & Millichap, Inc. has a 1-year low of $29.00 and a 1-year high of $42.80. The business has a fifty day moving average price of $32.06 and a 200-day moving average price of $36.36. The stock has a market capitalization of $1.16 billion, a P/E ratio of -92.93 and a beta of 1.24.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.05. The firm had revenue of $145.04 million during the quarter, compared to analysts’ expectations of $140.20 million. Marcus & Millichap had a negative return on equity of 1.98% and a negative net margin of 1.78%.

Insider Activity at Marcus & Millichap

In other Marcus & Millichap news, insider Gregory A. Laberge sold 2,915 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $34.78, for a total value of $101,383.70. Following the completion of the sale, the insider now owns 2,307 shares in the company, valued at $80,237.46. This represents a 55.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 39.20% of the stock is owned by company insiders.

Marcus & Millichap Company Profile

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.