Wellington Management Group LLP Trims Stock Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

Wellington Management Group LLP lessened its holdings in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 6.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 369,112 shares of the real estate investment trust's stock after selling 26,173 shares during the period. Wellington Management Group LLP owned about 0.94% of Marcus & Millichap worth $14,122,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Barclays PLC increased its stake in Marcus & Millichap by 104.7% during the 3rd quarter. Barclays PLC now owns 60,379 shares of the real estate investment trust's stock valued at $2,393,000 after purchasing an additional 30,884 shares in the last quarter. Deutsche Bank AG increased its stake 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 valued at $822,000 after purchasing an additional 7,542 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Marcus & Millichap during the 4th quarter valued at approximately $830,000. JPMorgan Chase & Co. increased its stake in Marcus & Millichap by 61.5% during the 4th quarter. JPMorgan Chase & Co. now owns 123,089 shares of the real estate investment trust's stock valued at $4,709,000 after purchasing an additional 46,865 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Marcus & Millichap by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 403,560 shares of the real estate investment trust's stock valued at $15,440,000 after purchasing an additional 18,785 shares in the last quarter. Hedge funds and other institutional investors own 62.78% of the company's stock.

Marcus & Millichap Price Performance

Marcus & Millichap stock traded up $0.49 during mid-day trading on Thursday, reaching $29.90. 199,357 shares of the company traded hands, compared to its average volume of 105,314. Marcus & Millichap, Inc. has a fifty-two week low of $27.61 and a fifty-two week high of $42.80. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -93.44 and a beta of 1.24. The firm's fifty day moving average is $30.29 and its two-hundred day moving average is $35.29.

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) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. The company had revenue of $145.04 million for the quarter, compared to analyst estimates of $140.20 million. Marcus & Millichap had a negative net margin of 1.78% and a negative return on equity of 1.98%.

Insider Transactions at Marcus & Millichap

In other news, insider Gregory A. Laberge sold 2,915 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $34.78, for a total value of $101,383.70. Following the completion of the transaction, the insider now owns 2,307 shares of the company's stock, valued at approximately $80,237.46. This trade represents a 55.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 39.20% of the company's stock.

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.