Louisiana State Employees Retirement System Lowers Position in Marcus & Millichap, Inc. (NYSE:MMI)

Louisiana State Employees Retirement System lessened its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 4.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,600 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Marcus & Millichap were worth $460,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in Marcus & Millichap during the first quarter valued at $85,000. EntryPoint Capital LLC purchased a new stake in Marcus & Millichap during the first quarter valued at $85,000. LRI Investments LLC purchased a new stake in Marcus & Millichap during the first quarter valued at $143,000. Heritage Family Offices LLP purchased a new stake in Marcus & Millichap during the second quarter valued at $207,000. Finally, Hsbc Holdings PLC purchased a new stake in Marcus & Millichap during the second quarter valued at $212,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Stock Up 4.4 %

MMI stock opened at $39.61 on Wednesday. Marcus & Millichap, Inc. has a twelve month low of $29.30 and a twelve month high of $44.24. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -43.53 and a beta of 1.14. The firm’s fifty day simple moving average is $38.33 and its two-hundred day simple moving average is $35.70.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. Marcus & Millichap had a negative net margin of 5.68% and a negative return on equity of 5.50%. The business had revenue of $158.37 million for the quarter.

Analyst Ratings Changes

MMI has been the topic of a number of recent research reports. StockNews.com raised shares of Marcus & Millichap from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price target on shares of Marcus & Millichap from $20.00 to $30.00 and gave the company an “underweight” rating in a research note 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 business’s stock in a transaction on Friday, September 13th. The shares were 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 in the company, valued at $998,840. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Hessam Nadji sold 659 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $40.33, for a total value of $26,577.47. Following the transaction, the chief executive officer now directly owns 209,123 shares in the company, valued at approximately $8,433,930.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Norma J. Lawrence sold 1,123 shares of the company’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 completion of the transaction, the director now owns 24,971 shares in the company, valued at approximately $998,840. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,023 shares of company stock worth $603,521 over the last quarter. Insiders own 39.89% 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.