Russell Investments Group Ltd. Grows Stake 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. boosted its position in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,736 shares of the real estate investment trust's stock after buying an additional 12,717 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.43% of Marcus & Millichap worth $5,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its position in Marcus & Millichap by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 753 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 670 shares during the last quarter. State of Wyoming bought a new stake in Marcus & Millichap in the fourth quarter valued at approximately $156,000. Two Sigma Investments LP bought a new stake in Marcus & Millichap in the fourth quarter valued at approximately $230,000. MQS Management LLC bought a new stake in Marcus & Millichap in the first quarter valued at approximately $210,000. Finally, ProShare Advisors LLC bought a new stake in Marcus & Millichap in the fourth quarter valued at approximately $271,000. Institutional investors own 62.78% of the company's stock.

Marcus & Millichap Stock Performance

Shares of Marcus & Millichap stock traded up $1.5980 during midday trading on Friday, reaching $32.3580. 185,861 shares of the company's stock traded hands, compared to its average volume of 125,202. The company has a market cap of $1.26 billion, a PE ratio of -104.38 and a beta of 1.27. The stock has a 50 day moving average of $31.10 and a 200-day moving average of $32.33. Marcus & Millichap, Inc. has a 12 month low of $27.61 and a 12 month high of $42.80.

Marcus & Millichap (NYSE:MMI - Get Free Report) last announced its earnings results on Thursday, August 7th. The real estate investment trust reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.24). The business had revenue of $172.28 million for the quarter, compared to the consensus estimate 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 firm also recently announced a half year 25 dividend, which will be paid on Monday, October 6th. Investors of record on Monday, September 15th will be issued a dividend of $0.25 per share. This represents a dividend yield of 160.0%. The ex-dividend date is Monday, September 15th. Marcus & Millichap's dividend payout ratio is currently -161.29%.

Analysts Set New Price Targets

MMI has been the subject of several recent research reports. Wall Street Zen downgraded Marcus & Millichap from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Citizens Jmp initiated coverage on Marcus & Millichap in a research report on Monday, July 21st. They issued a "market perform" rating for the company. Finally, JMP Securities initiated coverage on Marcus & Millichap in a research report on Monday, July 21st. They issued a "market perform" rating for the company. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $30.00.

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.