Reinhart Partners Inc. decreased its position in Marcus & Millichap Inc (NYSE:MMI) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 123,280 shares of the real estate investment trust’s stock after selling 4,490 shares during the period. Reinhart Partners Inc. owned about 0.32% of Marcus & Millichap worth $4,020,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Marcus & Millichap by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,274,198 shares of the real estate investment trust’s stock worth $33,588,000 after buying an additional 74,624 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Marcus & Millichap by 12.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 873,709 shares of the real estate investment trust’s stock worth $23,581,000 after acquiring an additional 94,285 shares during the last quarter. Tributary Capital Management LLC grew its position in Marcus & Millichap by 9.7% during the 3rd quarter. Tributary Capital Management LLC now owns 558,106 shares of the real estate investment trust’s stock worth $15,063,000 after acquiring an additional 49,425 shares during the last quarter. Granite Investment Partners LLC bought a new stake in Marcus & Millichap during the 3rd quarter worth approximately $14,391,000. Finally, State Street Corp grew its position in Marcus & Millichap by 8.1% during the 2nd quarter. State Street Corp now owns 273,854 shares of the real estate investment trust’s stock worth $7,218,000 after acquiring an additional 20,583 shares during the last quarter. 42.49% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Martin E. Louie sold 7,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $28.90, for a total transaction of $225,420.00. Following the completion of the sale, the chief financial officer now owns 56,966 shares in the company, valued at $1,646,317.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Hessam Nadji sold 15,196 shares of the business’s 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 sale, the chief executive officer now owns 288,727 shares of the company’s stock, valued at approximately $9,351,867.53. The disclosure for this sale can be found here. Insiders have sold 1,462,353 shares of company stock valued at $44,735,449 in the last quarter. 58.30% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on MMI. William Blair restated a “market perform” rating on shares of Marcus & Millichap in a research report on Thursday, February 1st. Zacks Investment Research lowered Marcus & Millichap from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. JMP Securities upgraded Marcus & Millichap from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Citigroup upgraded Marcus & Millichap from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and set a $31.00 price objective (up previously from $25.00) on shares of Marcus & Millichap in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $33.00.
Marcus & Millichap Inc (NYSE:MMI) traded up $0.79 during trading on Wednesday, reaching $31.72. The company had a trading volume of 157,680 shares, compared to its average volume of 127,774. Marcus & Millichap Inc has a fifty-two week low of $23.22 and a fifty-two week high of $33.30. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.62 and a quick ratio of 4.62. The company has a market capitalization of $1,190.00, a PE ratio of 20.29, a P/E/G ratio of 3.14 and a beta of 1.47.
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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.
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