Dimensional Fund Advisors LP increased its stake in Marcus & Millichap Inc (NYSE:MMI) by 12.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 873,709 shares of the real estate investment trust’s stock after purchasing an additional 94,285 shares during the quarter. Dimensional Fund Advisors LP owned 2.29% of Marcus & Millichap worth $23,581,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its holdings in Marcus & Millichap by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 51,379 shares of the real estate investment trust’s stock worth $1,355,000 after purchasing an additional 285 shares during the last quarter. Swiss National Bank boosted its holdings in Marcus & Millichap by 19.0% in the second quarter. Swiss National Bank now owns 28,200 shares of the real estate investment trust’s stock worth $743,000 after purchasing an additional 4,500 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Marcus & Millichap by 94.1% in the third quarter. Wells Fargo & Company MN now owns 91,429 shares of the real estate investment trust’s stock worth $2,468,000 after purchasing an additional 44,329 shares during the last quarter. New Mountain Vantage Advisers L.L.C. purchased a new position in shares of Marcus & Millichap during the 2nd quarter worth $3,914,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Marcus & Millichap by 118.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 63,400 shares of the real estate investment trust’s stock worth $1,671,000 after acquiring an additional 34,400 shares during the last quarter. Institutional investors own 42.49% of the company’s stock.
Several research analysts have recently weighed in on the stock. William Blair reiterated a “market perform” rating on shares of Marcus & Millichap in a research note on Thursday, February 1st. Zacks Investment Research cut shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. JMP Securities upgraded shares of Marcus & Millichap from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Citigroup upgraded shares of Marcus & Millichap from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Wells Fargo & Co restated a “market perform” rating and set a $31.00 price objective (up from $25.00) on shares of Marcus & Millichap in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Marcus & Millichap presently has an average rating of “Hold” and an average price target of $33.00.
Shares of Marcus & Millichap Inc (NYSE MMI) traded up $0.55 during midday trading on Monday, reaching $30.76. 163,258 shares of the company’s stock were exchanged, compared to its average volume of 128,123. Marcus & Millichap Inc has a one year low of $23.22 and a one year high of $33.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.62 and a current ratio of 4.62. The company has a market cap of $1,152.23, a P/E ratio of 19.95, a P/E/G ratio of 3.08 and a beta of 1.47.
In related news, CFO Martin E. Louie sold 13,000 shares of Marcus & Millichap stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $32.00, for a total transaction of $416,000.00. Following the completion of the transaction, the chief financial officer now directly owns 62,518 shares of the company’s stock, valued at approximately $2,000,576. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Phoenix Investments Holdings L sold 569,087 shares of Marcus & Millichap stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $30.63, for a total transaction of $17,431,134.81. Following the transaction, the insider now directly owns 18,988,795 shares of the company’s stock, valued at $581,626,790.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,595,654 shares of company stock worth $48,792,444. Insiders own 58.30% of the company’s stock.
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About Marcus & Millichap
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.
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