Royce & Associates LP boosted its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,525,623 shares of the real estate investment trust’s stock after buying an additional 108,713 shares during the period. Royce & Associates LP owned 0.07% of Marcus & Millichap worth $67,485,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Marcus & Millichap during the third quarter valued at about $131,000. Wells Fargo & Company MN raised its stake in shares of Marcus & Millichap by 5.6% in the third quarter. Wells Fargo & Company MN now owns 5,622 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 300 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Marcus & Millichap during the third quarter valued at about $368,000. Midas Management Corp purchased a new stake in shares of Marcus & Millichap during the third quarter valued at about $393,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Marcus & Millichap during the fourth quarter valued at about $471,000. Institutional investors and hedge funds own 34.26% of the company’s stock.
Marcus & Millichap, Inc. (NYSE:MMI) traded up 0.19% during trading on Tuesday, reaching $26.30. 226,713 shares of the company’s stock traded hands. Marcus & Millichap, Inc. has a 12 month low of $18.92 and a 12 month high of $30.31. The firm has a market cap of $989.30 million, a PE ratio of 15.29 and a beta of 1.57. The firm has a 50 day moving average price of $25.76 and a 200-day moving average price of $26.04.
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Several analysts recently issued reports on MMI shares. TheStreet upgraded Marcus & Millichap from a “hold” rating to a “buy” rating in a report on Monday, October 31st. Zacks Investment Research upgraded Marcus & Millichap from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Tuesday, November 8th. Wells Fargo & Company reiterated a “hold” rating and set a $27.00 price objective on shares of Marcus & Millichap in a report on Thursday, December 1st. Finally, Citigroup Inc. started coverage on Marcus & Millichap in a report on Tuesday, December 20th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $27.00.
In other Marcus & Millichap news, SVP William E. Hughes sold 5,500 shares of Marcus & Millichap stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $27.51, for a total value of $151,305.00. Following the sale, the senior vice president now owns 40,540 shares of the company’s stock, valued at $1,115,255.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Hessam Nadji sold 13,500 shares of Marcus & Millichap stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $25.90, for a total transaction of $349,650.00. Following the completion of the transaction, the chief executive officer now owns 355,233 shares of the company’s stock, valued at approximately $9,200,534.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,224 shares of company stock worth $2,064,149. Insiders own 61.80% of the company’s stock.
About Marcus & Millichap
Marcus & Millichap, Inc is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. The Company also offers market research, consulting and advisory services to its clients. It also offers two services to its clients, such as commercial real estate investment brokerage, and financing and ancillary services.
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