Millennium Management LLC Decreases Stake in Marcus & Millichap, Inc. (NYSE:MMI)

Millennium Management LLC lowered its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 67.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 9,751 shares of the real estate investment trust's stock after selling 20,202 shares during the period. Millennium Management LLC's holdings in Marcus & Millichap were worth $373,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sterling Capital Management LLC grew its position in 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 buying an additional 670 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Marcus & Millichap during the 4th quarter valued at about $172,000. Aquatic Capital Management LLC grew its position in shares of Marcus & Millichap by 248.0% during the 4th quarter. Aquatic Capital Management LLC now owns 7,309 shares of the real estate investment trust's stock valued at $280,000 after acquiring an additional 5,209 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Marcus & Millichap by 5.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,756 shares of the real estate investment trust's stock valued at $297,000 after purchasing an additional 421 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Marcus & Millichap by 11.6% in the 4th quarter. Handelsbanken Fonder AB now owns 8,666 shares of the real estate investment trust's stock worth $332,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 62.78% of the company's stock.

Marcus & Millichap Trading Down 4.3%

MMI traded down $1.34 during trading on Friday, hitting $29.54. The company's stock had a trading volume of 70,068 shares, compared to its average volume of 104,740. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -92.31 and a beta of 1.22. Marcus & Millichap, Inc. has a twelve month low of $27.61 and a twelve month high of $42.80. The business's fifty day simple moving average is $30.05 and its 200 day simple moving average is $34.84.

Marcus & Millichap (NYSE:MMI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.05. The firm had revenue of $145.04 million for the quarter, compared to analyst estimates of $140.20 million. Marcus & Millichap had a negative return on equity of 1.98% and a negative net margin of 1.78%.

About Marcus & Millichap

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.