Reinhart Partners LLC. grew its position in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,162,935 shares of the real estate investment trust's stock after acquiring an additional 253,444 shares during the quarter. Marcus & Millichap comprises about 2.7% of Reinhart Partners LLC.'s investment portfolio, making the stock its 15th largest holding. Reinhart Partners LLC. owned about 5.52% of Marcus & Millichap worth $74,513,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of MMI. Sterling Capital Management LLC boosted its holdings in shares of Marcus & Millichap by 807.2% during the fourth quarter. Sterling Capital Management LLC now owns 753 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 670 shares during the period. State of Wyoming acquired a new position in shares of Marcus & Millichap during the fourth quarter valued at $156,000. KLP Kapitalforvaltning AS acquired a new position in shares of Marcus & Millichap during the fourth quarter valued at $172,000. Two Sigma Investments LP acquired a new position in shares of Marcus & Millichap during the fourth quarter valued at $230,000. Finally, Heritage Family Offices LLP boosted its holdings in shares of Marcus & Millichap by 7.9% during the first quarter. Heritage Family Offices LLP now owns 7,586 shares of the real estate investment trust's stock valued at $261,000 after acquiring an additional 556 shares during the period. Institutional investors and hedge funds own 62.78% of the company's stock.
Insider Activity at Marcus & Millichap
In related news, insider Gregory A. Laberge sold 2,915 shares of Marcus & Millichap stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $34.78, for a total transaction of $101,383.70. Following the sale, the insider now directly owns 2,307 shares in the company, valued at $80,237.46. The trade was a 55.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 39.20% of the company's stock.
Marcus & Millichap Stock Performance
Shares of MMI opened at $29.67 on Friday. Marcus & Millichap, Inc. has a 1 year low of $27.61 and a 1 year high of $42.80. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -92.70 and a beta of 1.22. The firm has a fifty day moving average of $30.18 and a 200-day moving average of $35.22.
Marcus & Millichap (NYSE:MMI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.05. Marcus & Millichap had a negative net margin of 1.78% and a negative return on equity of 1.98%. The business had revenue of $145.04 million for the quarter, compared to analysts' expectations of $140.20 million.
Marcus & Millichap Profile
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Free Report)
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.
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