Bank of New York Mellon Corp Has $4.04 Million Holdings in Marcus & Millichap Inc (NYSE:MMI)

Bank of New York Mellon Corp boosted its stake in shares of Marcus & Millichap Inc (NYSE:MMI) by 50.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 149,714 shares of the real estate investment trust’s stock after purchasing an additional 50,182 shares during the period. Bank of New York Mellon Corp owned about 0.39% of Marcus & Millichap worth $4,040,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MMI. New York State Common Retirement Fund lifted its position in shares of Marcus & Millichap by 175.5% in the third quarter. New York State Common Retirement Fund now owns 65,742 shares of the real estate investment trust’s stock valued at $1,774,000 after acquiring an additional 41,876 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of Marcus & Millichap in the third quarter valued at about $677,000. Victory Capital Management Inc. lifted its position in shares of Marcus & Millichap by 39.5% in the third quarter. Victory Capital Management Inc. now owns 8,407 shares of the real estate investment trust’s stock valued at $227,000 after acquiring an additional 2,380 shares in the last quarter. Tributary Capital Management LLC lifted its position in shares of Marcus & Millichap by 9.7% in the third quarter. Tributary Capital Management LLC now owns 558,106 shares of the real estate investment trust’s stock valued at $15,063,000 after acquiring an additional 49,425 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Marcus & Millichap by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 13,515 shares of the real estate investment trust’s stock valued at $356,000 after acquiring an additional 967 shares in the last quarter. Institutional investors own 41.01% of the company’s stock.

Marcus & Millichap Inc (NYSE MMI) opened at $30.88 on Thursday. The company has a market capitalization of $1,220.00, a P/E ratio of 20.05, a PEG ratio of 3.26 and a beta of 1.59. Marcus & Millichap Inc has a 52 week low of $23.22 and a 52 week high of $32.72. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.62 and a current ratio of 4.62.

MMI has been the topic of several research analyst reports. Zacks Investment Research downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup upgraded Marcus & Millichap from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $31.00 target price (up from $25.00) on shares of Marcus & Millichap in a research report on Wednesday, November 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $33.00.

In related news, CEO Hessam Nadji sold 15,196 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $32.39, for a total value of $492,198.44. Following the transaction, the chief executive officer now owns 288,727 shares of the company’s stock, valued at $9,351,867.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Martin E. Louie sold 13,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $32.00, for a total value of $416,000.00. Following the completion of the transaction, the chief financial officer now directly owns 62,518 shares in the company, valued at approximately $2,000,576. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,706,908 shares of company stock worth $52,147,895. Insiders own 58.30% of the company’s stock.

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Marcus & Millichap Company Profile

Marcus & Millichap, Inc is a brokerage company specializing in commercial real estate investment sales, financing, research and advisory services. The Company offers three primary services to its clients: commercial real estate investment brokerage, financing, and ancillary services, including other research, advisory and consulting services.

Institutional Ownership by Quarter for Marcus & Millichap (NYSE:MMI)

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