Marcus & Millichap, Inc. (MMI) Stake Lowered by Royce & Associates LP

Royce & Associates LP trimmed its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,759,488 shares of the real estate investment trust’s stock after selling 37,141 shares during the period. Marcus & Millichap comprises approximately 0.7% of Royce & Associates LP’s investment portfolio, making the stock its 16th largest holding. Royce & Associates LP owned 9.86% of Marcus & Millichap worth $101,469,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MMI. Granite Investment Partners LLC bought a new stake in shares of Marcus & Millichap during the 3rd quarter worth $14,391,000. Vivaldi Asset Management LLC raised its stake in shares of Marcus & Millichap by 3,527.7% during 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 purchasing an additional 353,301 shares during the period. New Mountain Vantage Advisers L.L.C. bought a new stake in shares of Marcus & Millichap during the 2nd quarter worth $3,914,000. Dimensional Fund Advisors LP raised its stake in shares of Marcus & Millichap by 18.7% during 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 purchasing an additional 122,885 shares during the period. Finally, Clark Estates Inc. NY bought a new stake in shares of Marcus & Millichap during the 2nd quarter worth $3,163,000. Institutional investors own 45.04% of the company’s stock.

In related news, SVP William E. Hughes sold 2,199 shares of the business’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $27.99, for a total value of $61,550.01. Following the sale, the senior vice president now directly owns 40,540 shares in the company, valued at approximately $1,134,714.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George M. Marcus sold 50,839 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 15,879 shares in the company, valued at $488,279.25. The disclosure for this sale can be found here. Insiders sold a total of 1,692,911 shares of company stock worth $51,631,187 over the last 90 days. 58.30% of the stock is currently owned by company insiders.

A number of research firms have recently commented on MMI. Wells Fargo & Company reiterated a “market perform” rating and set a $31.00 target price (up from $25.00) on shares of Marcus & Millichap in a research note on Wednesday, November 8th. Zacks Investment Research upgraded Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Citigroup upgraded Marcus & Millichap from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $33.00.

Shares of Marcus & Millichap, Inc. (MMI) traded down $0.48 during trading on Wednesday, reaching $31.21. The company had a trading volume of 81,800 shares, compared to its average volume of 147,402. Marcus & Millichap, Inc. has a fifty-two week low of $23.22 and a fifty-two week high of $32.38. The company has a market cap of $1,208.68, a PE ratio of 20.58, a P/E/G ratio of 3.49 and a beta of 1.59. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 0.02.

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

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