PNC Financial Services Group Inc. Sells 2,142 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

PNC Financial Services Group Inc. trimmed its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 13.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,617 shares of the real estate investment trust’s stock after selling 2,142 shares during the period. PNC Financial Services Group Inc.’s holdings in Marcus & Millichap were worth $595,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MMI. Charles Schwab Investment Management Inc. grew its holdings in Marcus & Millichap by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 321,202 shares of the real estate investment trust’s stock valued at $9,424,000 after purchasing an additional 18,706 shares during the last quarter. FMR LLC grew its stake in Marcus & Millichap by 132.3% in the 3rd quarter. FMR LLC now owns 816,916 shares of the real estate investment trust’s stock worth $23,968,000 after acquiring an additional 465,237 shares in the last quarter. Natixis Advisors L.P. grew its stake in Marcus & Millichap by 25.3% in the 3rd quarter. Natixis Advisors L.P. now owns 15,967 shares of the real estate investment trust’s stock worth $468,000 after acquiring an additional 3,225 shares in the last quarter. Trexquant Investment LP bought a new position in Marcus & Millichap in the 3rd quarter worth about $405,000. Finally, Quadrature Capital Ltd bought a new position in Marcus & Millichap in the 3rd quarter worth about $293,000. 62.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Monday, May 13th.

Insider Activity

In related news, insider Gregory A. Laberge sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $32.68, for a total transaction of $32,680.00. Following the completion of the sale, the insider now owns 6,050 shares of the company’s stock, valued at $197,714. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO John David Parker sold 1,835 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $35.29, for a total transaction of $64,757.15. Following the completion of the sale, the chief operating officer now owns 13,373 shares of the company’s stock, valued at $471,933.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory A. Laberge sold 1,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $32.68, for a total transaction of $32,680.00. Following the completion of the transaction, the insider now directly owns 6,050 shares of the company’s stock, valued at approximately $197,714. The disclosure for this sale can be found here. Insiders own 39.20% of the company’s stock.

Marcus & Millichap Stock Performance

NYSE MMI opened at $30.85 on Thursday. The firm’s 50 day moving average price is $32.30 and its 200-day moving average price is $35.31. Marcus & Millichap, Inc. has a 52-week low of $26.81 and a 52-week high of $44.24. The company has a market cap of $1.19 billion, a PE ratio of -30.85 and a beta of 1.10.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported ($0.26) earnings per share (EPS) for the quarter. Marcus & Millichap had a negative net margin of 6.16% and a negative return on equity of 5.91%. The business had revenue of $129.10 million for the quarter.

Marcus & Millichap Profile

Marcus & Millichap, Inc, an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.