Janney Montgomery Scott LLC Has $928,000 Stock Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

Janney Montgomery Scott LLC raised its holdings in Marcus & Millichap, Inc. (NYSE:MMI) by 6.3% during the third quarter, HoldingsChannel reports. The firm owned 23,421 shares of the real estate investment trust’s stock after acquiring an additional 1,392 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Marcus & Millichap were worth $928,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hunter Perkins Capital Management LLC grew its position in shares of Marcus & Millichap by 14.0% in the 3rd quarter. Hunter Perkins Capital Management LLC now owns 32,910 shares of the real estate investment trust’s stock valued at $1,304,000 after buying an additional 4,035 shares during the last quarter. Creative Planning grew its stake in shares of Marcus & Millichap by 100.2% in the 3rd quarter. Creative Planning now owns 15,689 shares of the real estate investment trust’s stock worth $622,000 after acquiring an additional 7,853 shares in the last quarter. Inspire Investing LLC bought a new position in shares of Marcus & Millichap during the 3rd quarter worth approximately $416,000. Reinhart Partners LLC. increased its position in shares of Marcus & Millichap by 7.6% during the 3rd quarter. Reinhart Partners LLC. now owns 1,835,699 shares of the real estate investment trust’s stock valued at $72,749,000 after purchasing an additional 129,333 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Marcus & Millichap by 5.2% in the second quarter. The Manufacturers Life Insurance Company now owns 15,220 shares of the real estate investment trust’s stock valued at $480,000 after acquiring an additional 750 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.

Analysts Set New Price Targets

MMI has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Marcus & Millichap from $20.00 to $30.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. StockNews.com raised Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th.

Insiders Place Their Bets

In related news, Director Norma J. Lawrence sold 1,123 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $40.00, for a total value of $44,920.00. Following the sale, the director now owns 24,971 shares in the company, valued at $998,840. This represents a 4.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Hessam Nadji sold 13,241 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $40.18, for a total transaction of $532,023.38. Following the completion of the transaction, the chief executive officer now owns 209,782 shares in the company, valued at approximately $8,429,040.76. The trade was a 5.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,023 shares of company stock worth $603,521. 39.20% of the stock is currently owned by company insiders.

Marcus & Millichap Stock Down 1.4 %

Shares of Marcus & Millichap stock opened at $40.63 on Friday. Marcus & Millichap, Inc. has a 12-month low of $29.93 and a 12-month high of $44.24. The firm has a market cap of $1.58 billion, a PE ratio of -50.16 and a beta of 1.14. The company’s fifty day simple moving average is $38.72 and its two-hundred day simple moving average is $36.23.

About Marcus & Millichap

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.