Thrivent Financial for Lutherans Trims Position in Marcus & Millichap, Inc. (NYSE:MMI)

Thrivent Financial for Lutherans trimmed its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 5.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 18,850 shares of the real estate investment trust’s stock after selling 1,049 shares during the period. Thrivent Financial for Lutherans’ holdings in Marcus & Millichap were worth $747,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. LRI Investments LLC grew its stake in Marcus & Millichap by 11.0% in the second quarter. LRI Investments LLC now owns 4,706 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 468 shares in the last quarter. Heritage Family Offices LLP bought a new position in shares of Marcus & Millichap during the 2nd quarter worth $207,000. Hsbc Holdings PLC purchased a new position in shares of Marcus & Millichap during the second quarter valued at $212,000. Scharf Investments LLC raised its holdings in shares of Marcus & Millichap by 17.9% in the second quarter. Scharf Investments LLC now owns 6,962 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 1,057 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Marcus & Millichap by 12.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,795 shares of the real estate investment trust’s stock worth $233,000 after acquiring an additional 767 shares during the period. 62.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised their target price on shares of Marcus & Millichap from $20.00 to $30.00 and gave the company an “underweight” rating in a research report on Friday, September 6th.

Insider Buying and Selling at Marcus & Millichap

In other Marcus & Millichap news, Director Norma J. Lawrence sold 1,123 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $40.00, for a total value of $44,920.00. Following the completion of the sale, the director now owns 24,971 shares of the company’s stock, valued at approximately $998,840. This trade represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 39.89% of the stock is owned by insiders.

Marcus & Millichap Price Performance

Shares of MMI stock opened at $41.33 on Wednesday. The stock’s 50-day moving average is $39.15 and its 200 day moving average is $36.85. Marcus & Millichap, Inc. has a 1-year low of $29.93 and a 1-year high of $44.24. The company has a market cap of $1.60 billion, a P/E ratio of -51.02 and a beta of 1.15.

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.