American Century Companies Inc. Raises Stake in Marcus & Millichap Inc (MMI)
American Century Companies Inc. lifted its position in shares of Marcus & Millichap Inc (NYSE:MMI) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 89,886 shares of the real estate investment trust’s stock after purchasing an additional 2,090 shares during the period. American Century Companies Inc.’s holdings in Marcus & Millichap were worth $3,086,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. LS Investment Advisors LLC acquired a new position in shares of Marcus & Millichap during the fourth quarter worth approximately $82,000. Quantamental Technologies LLC acquired a new position in shares of Marcus & Millichap during the fourth quarter worth approximately $99,000. SG Americas Securities LLC acquired a new position in shares of Marcus & Millichap during the fourth quarter worth approximately $121,000. Advisor Group Inc. raised its position in shares of Marcus & Millichap by 8.5% during the fourth quarter. Advisor Group Inc. now owns 4,590 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 359 shares during the period. Finally, Gotham Asset Management LLC acquired a new position in shares of Marcus & Millichap during the fourth quarter worth approximately $205,000. 58.19% of the stock is currently owned by institutional investors.
In related news, CFO Martin E. Louie sold 7,000 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $39.98, for a total value of $279,860.00. Following the completion of the sale, the chief financial officer now directly owns 78,964 shares of the company’s stock, valued at approximately $3,156,980.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Mitchell R. Labar sold 9,127 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $39.44, for a total value of $359,968.88. The disclosure for this sale can be found here. Insiders sold a total of 26,914 shares of company stock valued at $1,056,297 over the last three months. 41.70% of the stock is currently owned by insiders.
NYSE MMI opened at $42.67 on Tuesday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 19.22, a P/E/G ratio of 3.36 and a beta of 1.25. Marcus & Millichap Inc has a 12 month low of $30.66 and a 12 month high of $43.33. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.02.
Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. The business had revenue of $230.30 million during the quarter, compared to analyst estimates of $209.75 million. Marcus & Millichap had a return on equity of 23.51% and a net margin of 10.71%. Marcus & Millichap’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. Equities analysts expect that Marcus & Millichap Inc will post 2.14 EPS for the current year.
About Marcus & Millichap
Marcus & Millichap, Inc, a brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.
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