Marcus & Millichap, Inc. (NYSE:MMI) Shares Sold by Quest Partners LLC

Quest Partners LLC lowered its position in Marcus & Millichap, Inc. (NYSE:MMI) by 42.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,755 shares of the real estate investment trust’s stock after selling 8,023 shares during the period. Quest Partners LLC’s holdings in Marcus & Millichap were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in shares of Marcus & Millichap in the first quarter valued at approximately $143,000. Heritage Family Offices LLP acquired 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 in the 2nd quarter valued at about $212,000. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 767 shares during the period. Finally, Scharf Investments LLC boosted its holdings in 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 buying an additional 1,057 shares in the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Insider Activity at Marcus & Millichap

In other Marcus & Millichap news, Director Norma J. Lawrence sold 1,123 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were 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 of the company’s stock, valued at $998,840. This represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 39.20% of the stock is owned by corporate insiders.

Marcus & Millichap Stock Performance

Marcus & Millichap stock opened at $41.20 on Monday. Marcus & Millichap, Inc. has a fifty-two week low of $29.93 and a fifty-two week high of $44.24. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -50.86 and a beta of 1.14. The stock’s fifty day moving average is $38.93 and its two-hundred day moving average is $36.53.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lifted their price target 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.

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.