Pitcairn Co. Has $567,000 Stake in Marcus & Millichap, Inc. (NYSE:MMI)

Pitcairn Co. reduced its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,295 shares of the real estate investment trust’s stock after selling 464 shares during the quarter. Pitcairn Co.’s holdings in Marcus & Millichap were worth $567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Louisiana State Employees Retirement System lifted its holdings in Marcus & Millichap by 2.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the real estate investment trust’s stock valued at $381,000 after purchasing an additional 300 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Marcus & Millichap by 2.1% in the 2nd quarter. Natixis Advisors LLC now owns 18,482 shares of the real estate investment trust’s stock worth $583,000 after acquiring an additional 374 shares in the last quarter. LRI Investments LLC grew its position in Marcus & Millichap by 11.0% during the 2nd quarter. LRI Investments LLC now owns 4,706 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 468 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in Marcus & Millichap by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 21,744 shares of the real estate investment trust’s stock valued at $685,000 after purchasing an additional 473 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Marcus & Millichap by 6.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 8,651 shares of the real estate investment trust’s stock valued at $343,000 after purchasing an additional 530 shares during the last quarter. 62.78% of the stock is owned by institutional investors.

Marcus & Millichap Trading Up 2.5 %

Shares of NYSE MMI opened at $42.22 on Tuesday. Marcus & Millichap, Inc. has a 1-year low of $29.93 and a 1-year high of $44.24. The company has a 50-day moving average of $38.97 and a two-hundred day moving average of $36.59. The company has a market cap of $1.64 billion, a PE ratio of -52.12 and a beta of 1.14.

Insider Activity at Marcus & Millichap

In other Marcus & Millichap 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 value of $44,920.00. Following the transaction, the director now directly owns 24,971 shares in the company, valued at approximately $998,840. This trade represents a 4.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 39.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.