State of Alaska Department of Revenue Trims Stock Position in Marcus & Millichap, Inc. (NYSE:MMI)

State of Alaska Department of Revenue decreased its position in Marcus & Millichap, Inc. (NYSE:MMI) by 2.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,698 shares of the real estate investment trust’s stock after selling 376 shares during the period. State of Alaska Department of Revenue’s holdings in Marcus & Millichap were worth $542,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Hunter Perkins Capital Management LLC lifted its holdings 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 worth $1,304,000 after buying an additional 4,035 shares during the period. Creative Planning lifted its stake in Marcus & Millichap by 100.2% in the third 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 during the period. Inspire Investing LLC purchased a new stake in Marcus & Millichap in the third quarter worth about $416,000. Reinhart Partners LLC. grew its holdings in 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 worth $72,749,000 after acquiring an additional 129,333 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Marcus & Millichap by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,220 shares of the real estate investment trust’s stock valued at $480,000 after purchasing an additional 750 shares during the period. Institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Price Performance

MMI opened at $40.18 on Friday. The firm has a market capitalization of $1.56 billion, a PE ratio of -44.15 and a beta of 1.14. The business’s 50-day moving average is $38.40 and its two-hundred day moving average is $35.82. Marcus & Millichap, Inc. has a 1 year low of $29.30 and a 1 year high of $44.24.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $158.37 million for the quarter.

Insiders Place Their Bets

In other news, Director Norma J. Lawrence sold 1,123 shares of the stock in a transaction on 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 sale, the director now owns 24,971 shares in the company, valued at approximately $998,840. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Norma J. Lawrence sold 1,123 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $40.00, for a total value of $44,920.00. Following the completion of the transaction, the director now directly owns 24,971 shares of the company’s stock, valued at $998,840. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hessam Nadji sold 13,241 shares of Marcus & Millichap stock in a transaction that occurred on 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 sale, the chief executive officer now owns 209,782 shares of the company’s stock, valued at $8,429,040.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,023 shares of company stock valued at $603,521. 39.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective 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. StockNews.com raised Marcus & Millichap from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th.

Marcus & Millichap Company 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.