Pzena Investment Management LLC Purchases 352,832 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Pzena Investment Management LLC boosted its position in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 122.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 641,667 shares of the real estate investment trust's stock after purchasing an additional 352,832 shares during the quarter. Pzena Investment Management LLC owned approximately 1.66% of Marcus & Millichap worth $20,225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MMI. Norges Bank bought a new position in shares of Marcus & Millichap in the 4th quarter worth about $6,826,000. Schroder Investment Management Group increased its stake in shares of Marcus & Millichap by 2.4% during the fourth quarter. Schroder Investment Management Group now owns 1,099,876 shares of the real estate investment trust's stock valued at $48,043,000 after purchasing an additional 25,982 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Marcus & Millichap by 332.9% during the second quarter. Harbor Capital Advisors Inc. now owns 73,314 shares of the real estate investment trust's stock valued at $2,311,000 after purchasing an additional 56,379 shares during the last quarter. Tributary Capital Management LLC boosted its position in shares of Marcus & Millichap by 10.6% in the 1st quarter. Tributary Capital Management LLC now owns 658,266 shares of the real estate investment trust's stock worth $22,493,000 after purchasing an additional 62,946 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Marcus & Millichap by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 3,841,718 shares of the real estate investment trust's stock worth $167,806,000 after buying an additional 37,821 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company's stock.

Marcus & Millichap Stock Performance

Shares of MMI traded up $0.09 during trading hours on Thursday, hitting $38.36. The company had a trading volume of 55,137 shares, compared to its average volume of 138,009. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -38.21 and a beta of 1.12. The firm has a fifty day moving average price of $36.82 and a 200-day moving average price of $34.43. Marcus & Millichap, Inc. has a 52-week low of $26.81 and a 52-week high of $44.24.

Marcus & Millichap (NYSE:MMI - Get Free Report) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. Marcus & Millichap had a negative net margin of 5.68% and a negative return on equity of 5.50%. The business had revenue of $158.37 million during the quarter.

Marcus & Millichap Dividend Announcement

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a yield of 1.3%. Marcus & Millichap's dividend payout ratio (DPR) is presently -50.00%.

Insider Buying and Selling at Marcus & Millichap

In other news, CEO Hessam Nadji sold 15,000 shares of the business's stock in a transaction on Friday, July 12th. The stock was sold at an average price of $35.27, for a total value of $529,050.00. Following the completion of the transaction, the chief executive officer now owns 224,123 shares in the company, valued at $7,904,818.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 29,700 shares of company stock worth $1,119,675. Insiders own 39.20% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Marcus & Millichap from a "sell" rating to a "hold" rating in a research note on Wednesday, July 24th.

About Marcus & Millichap

Marcus & Millichap, Inc, an investment 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, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.