Russell Investments Group Ltd. Has $5.81 Million Stock Holdings in Marcus & Millichap, Inc. $MMI

Key Points

• Russell Investments Group Ltd. increased its stake in Marcus & Millichap by 8.2% to own approximately 0.43% of the company, with holdings valued at $5.81 million.
• Wall Street analysts have recently downgraded Marcus & Millichap’s stock rating to "sell" and issued an average price target of $30.00, reflecting caution among investors.
• The company reported a loss of $0.28 earnings per share for the last quarter, which was significantly below the analysts' consensus estimate, resulting in a negative net margin.

Russell Investments Group Ltd. increased its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 168,736 shares of the real estate investment trust's stock after purchasing an additional 12,717 shares during the quarter. Russell Investments Group Ltd. owned 0.43% of Marcus & Millichap worth $5,813,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. raised its position 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 worth $4,127,000 after acquiring an additional 3,095 shares in the last quarter. New York State Teachers Retirement System increased its position in Marcus & Millichap by 11.4% during the 1st quarter. New York State Teachers Retirement System now owns 23,618 shares of the real estate investment trust's stock worth $814,000 after purchasing an additional 2,416 shares in the last quarter. Deutsche Bank AG increased its position in Marcus & Millichap by 54.1% during the 4th quarter. Deutsche Bank AG now owns 21,494 shares of the real estate investment trust's stock worth $822,000 after purchasing an additional 7,542 shares in the last quarter. GAMMA Investing LLC increased its position in Marcus & Millichap by 4,330.3% during the 1st quarter. GAMMA Investing LLC now owns 20,911 shares of the real estate investment trust's stock worth $720,000 after purchasing an additional 20,439 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Marcus & Millichap in the 1st quarter worth about $1,122,000. 62.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MMI. Citizens Jmp began coverage on Marcus & Millichap in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. JMP Securities started coverage on Marcus & Millichap in a research report on Monday, July 21st. They set a "market perform" rating on the stock. Finally, Wall Street Zen lowered Marcus & Millichap from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $30.00.

Marcus & Millichap Stock Up 0.1%

MMI stock traded up $0.03 during trading on Tuesday, reaching $32.56. 95,294 shares of the company's stock were exchanged, compared to its average volume of 133,451. The firm has a market cap of $1.27 billion, a PE ratio of -105.01 and a beta of 1.27. The company's fifty day moving average price is $31.18 and its 200-day moving average price is $32.26. 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 announced its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.24). The firm had revenue of $172.28 million during the quarter, compared to analyst estimates of $172.60 million. Marcus & Millichap had a negative net margin of 1.69% and a negative return on equity of 1.99%.

Marcus & Millichap Announces Dividend

The company also recently disclosed a half year 25 dividend, which will be paid on Monday, October 6th. Stockholders of record on Monday, September 15th will be issued a $0.25 dividend. The ex-dividend date is Monday, September 15th. This represents a dividend yield of 160.0%. Marcus & Millichap's dividend payout ratio is -161.29%.

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.