First Trust Advisors LP lessened its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 16.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,297 shares of the real estate investment trust’s stock after selling 8,034 shares during the quarter. First Trust Advisors LP owned 0.11% of Marcus & Millichap worth $1,142,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vivaldi Asset Management LLC boosted its holdings in Marcus & Millichap by 3,527.7% in the 2nd quarter. Vivaldi Asset Management LLC now owns 363,316 shares of the real estate investment trust’s stock worth $9,577,000 after acquiring an additional 353,301 shares during the period. Royce & Associates LP boosted its holdings in Marcus & Millichap by 9.0% in the 2nd quarter. Royce & Associates LP now owns 3,796,629 shares of the real estate investment trust’s stock worth $100,079,000 after acquiring an additional 313,305 shares during the period. New Mountain Vantage Advisers L.L.C. purchased a new position in Marcus & Millichap in the 2nd quarter worth approximately $3,914,000. Dimensional Fund Advisors LP boosted its holdings in Marcus & Millichap by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 779,424 shares of the real estate investment trust’s stock worth $20,546,000 after acquiring an additional 122,885 shares during the period. Finally, Clark Estates Inc. NY purchased a new position in Marcus & Millichap in the 2nd quarter worth approximately $3,163,000. 45.04% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on MMI. Wells Fargo & Company restated a “market perform” rating and issued a $31.00 price target (up previously from $25.00) on shares of Marcus & Millichap in a report on Wednesday, November 8th. Zacks Investment Research upgraded Marcus & Millichap from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Citigroup upgraded Marcus & Millichap from a “neutral” rating to a “buy” rating in a report on Tuesday, November 14th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $33.00.
In other news, SVP William E. Hughes sold 6,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $26.99, for a total transaction of $161,940.00. Following the completion of the transaction, the senior vice president now directly owns 40,540 shares in the company, valued at approximately $1,094,174.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director George M. Marcus sold 50,839 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $30.75, for a total value of $1,563,299.25. Following the transaction, the director now owns 15,879 shares of the company’s stock, valued at $488,279.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,692,911 shares of company stock valued at $51,631,187. Company 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.
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