Royce & Associates LP Reduces Stock Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

Royce & Associates LP lowered its position in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 20.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,757,891 shares of the real estate investment trust's stock after selling 440,489 shares during the quarter. Marcus & Millichap comprises 0.7% of Royce & Associates LP's investment portfolio, making the stock its 17th biggest holding. Royce & Associates LP owned about 4.48% of Marcus & Millichap worth $60,559,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Marcus & Millichap in the first quarter valued at $1,122,000. MQS Management LLC bought a new stake in Marcus & Millichap in the first quarter valued at $210,000. Envestnet Asset Management Inc. increased its stake in Marcus & Millichap by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 119,171 shares of the real estate investment trust's stock valued at $4,105,000 after purchasing an additional 4,495 shares in the last quarter. Principal Financial Group Inc. increased its stake in Marcus & Millichap by 2.7% in the first quarter. Principal Financial Group Inc. now owns 119,789 shares of the real estate investment trust's stock valued at $4,127,000 after purchasing an additional 3,095 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in Marcus & Millichap by 11.4% in the first quarter. New York State Teachers Retirement System now owns 23,618 shares of the real estate investment trust's stock valued at $814,000 after purchasing an additional 2,416 shares in the last quarter. Institutional investors own 62.78% of the company's stock.

Analyst Upgrades and Downgrades

MMI has been the subject of several research analyst reports. JMP Securities initiated coverage on shares of Marcus & Millichap in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Citizens Jmp initiated coverage on shares of Marcus & Millichap in a research note on Monday, July 21st. They issued a "market perform" rating for the company.

Marcus & Millichap Price Performance

Shares of NYSE MMI traded up $0.45 during mid-day trading on Friday, reaching $31.81. 59,973 shares of the company's stock traded hands, compared to its average volume of 117,634. The stock has a market cap of $1.24 billion, a P/E ratio of -187.10 and a beta of 1.23. The business has a 50-day simple moving average of $30.44 and a 200 day simple moving average of $33.14. Marcus & Millichap, Inc. has a 1-year low of $27.61 and a 1-year high of $42.80.

Marcus & Millichap (NYSE:MMI - Get Free Report) last released 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. Marcus & Millichap had a negative net margin of 0.95% and a negative return on equity of 1.09%. The business had revenue of $145.04 million for the quarter, compared to analysts' expectations of $140.20 million.

Marcus & Millichap 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.