Envestnet Asset Management Inc. Boosts Position in Marcus & Millichap Inc (MMI)

Envestnet Asset Management Inc. raised its holdings in shares of Marcus & Millichap Inc (NYSE:MMI) by 28.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,934 shares of the real estate investment trust’s stock after acquiring an additional 3,502 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Marcus & Millichap were worth $429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of MMI. Alps Advisors Inc. boosted its position in Marcus & Millichap by 0.3% during the second quarter. Alps Advisors Inc. now owns 18,396 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 48 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Marcus & Millichap by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 51,379 shares of the real estate investment trust’s stock valued at $1,355,000 after acquiring an additional 285 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Marcus & Millichap by 2.1% during the second quarter. Teachers Advisors LLC now owns 34,161 shares of the real estate investment trust’s stock valued at $900,000 after acquiring an additional 689 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of Marcus & Millichap by 1.9% during the second quarter. Pacific Ridge Capital Partners LLC now owns 39,150 shares of the real estate investment trust’s stock valued at $1,032,000 after acquiring an additional 720 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Marcus & Millichap by 17.6% during the second quarter. Victory Capital Management Inc. now owns 6,027 shares of the real estate investment trust’s stock valued at $159,000 after acquiring an additional 904 shares during the last quarter. 41.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of Marcus & Millichap Inc (MMI) opened at $31.98 on Friday. The firm has a market cap of $1,207.16, a PE ratio of 20.77, a price-to-earnings-growth ratio of 3.48 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. Marcus & Millichap Inc has a fifty-two week low of $23.22 and a fifty-two week high of $32.38.

In related news, Director George M. Marcus sold 50,839 shares of the firm’s 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 sale, the director now owns 15,879 shares in the company, valued at $488,279.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William E. Hughes sold 6,000 shares of the stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $28.00, for a total transaction of $168,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,692,911 shares of company stock worth $51,631,187. Corporate insiders own 58.30% of the company’s stock.

Several equities analysts have recently commented on MMI shares. Citigroup raised shares of Marcus & Millichap from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research raised shares of Marcus & Millichap from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Wednesday, November 22nd. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $31.00 price objective (up previously from $25.00) on shares of Marcus & Millichap in a report on Wednesday, November 8th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $33.00.

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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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