Public Sector Pension Investment Board Trims Stock Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

Public Sector Pension Investment Board cut its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,947 shares of the real estate investment trust’s stock after selling 1,800 shares during the period. Public Sector Pension Investment Board’s holdings in Marcus & Millichap were worth $2,019,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of 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 valued at $233,000 after buying an additional 767 shares in the last quarter. SG Americas Securities LLC increased its stake in Marcus & Millichap by 18.4% during the 2nd quarter. SG Americas Securities LLC now owns 16,147 shares of the real estate investment trust’s stock worth $509,000 after buying an additional 2,508 shares during the period. Hunter Perkins Capital Management LLC lifted its holdings in Marcus & Millichap by 55.9% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 28,875 shares of the real estate investment trust’s stock worth $910,000 after buying an additional 10,350 shares in the last quarter. Reinhart Partners LLC. boosted its position in Marcus & Millichap by 16.1% in the 2nd quarter. Reinhart Partners LLC. now owns 1,706,366 shares of the real estate investment trust’s stock valued at $53,785,000 after buying an additional 236,324 shares during the period. Finally, Scharf Investments LLC increased its position in shares of Marcus & Millichap by 17.9% during the second quarter. Scharf Investments LLC now owns 6,962 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 1,057 shares during the period. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Marcus & Millichap Trading Down 1.8 %

Marcus & Millichap stock opened at $40.88 on Friday. The company has a fifty day simple moving average of $39.22 and a 200-day simple moving average of $36.92. The stock has a market cap of $1.59 billion, a P/E ratio of -51.38 and a beta of 1.15. Marcus & Millichap, Inc. has a 12-month low of $29.93 and a 12-month high of $44.24.

Wall Street Analyst Weigh In

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

Insider Transactions 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 transaction of $44,920.00. Following the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 39.20% of the company’s stock.

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.